Telerate Inc. reported 6% drop in second-quarter net income, apparently first quarterly decline in earnings firm has posted. Net slumped to $21.8 million, despite 13% jump in sales to $126.7 million. Firm attributes profit drop to capital spending on computer enhancements and start-up costs related to Telerate International Quotations system and Telerate Trading Service.

Ian P. Sharp quit as president and chief executive of Reuters Holdings PLC's I.P. Sharp Associates subsidiary. Chairman Pet

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