BUSINESS BRIEFS.(A)

MARKETS

M&A activity slowest since 1991

So far in the U.S. this year, 801 M&A deals have been announced, down 24% from the same span in '02, and 56% from the peak in early '00, said Thomson Financial. War fears, low stock prices and weak earnings are all culprits. The value of announced mergers is $45.3 bil, the worst Jan.-Feb. period since '95 and off 88% from 2000, when stocks were near their peak.

S&P: post-junk comebacks rare

Standard & Poor's says only one in four companies cut to junk ever regain their investment grade rating. A record 67 companies were cut to junk status last year. The firms have a harder time borrowing and must …