TAX REFORMS asked by Eisenhower are taking shape in committee and are almost sure to be passed this session. Among the benefits to business: faster write-offs, permission to carry back losses for two years instead of one. To individuals: a cut in dividend taxation, bigger deductions for doctors' bills.

TURBOCRUISER, a gas-turbine passenger bus, is being road-tested by General Motors Corp., but mass production of the bus is a long way off. Chief advantages of the vehicles: light weight, little vibration, use of a wide range of fuels, and clutchless operation. Drawbacks: high fuel consumption and scarcity of heat-resistant metals needed, such as nickel, cobalt and molybdenum.

FLOYD ODLUM, who just completed an oil deal with the Argentine government of Juan Peron, is now discussing the formation of a new holding and investment company, Atlas Corp., Argentina, to push Argentine industrial development. U.S. companies' pesos frozen in Argentina would be used as operating capital at the start, and the stock would be listed on the New York Stock Exchange so that U.S. investors could buy in later.

SELLING STUNTS of the big soap and flour companies will be investigated by the Federal Trade Commission. Specific target: cross-couponing, the system under which one company gives away coupons redeemable in another company's products. FTC will decide whether such combinations between big companies hurt smaller competitors.

PENN CENTER office and residential development in Philadelphia, which was started last year by Manhattan's Uris Bros. (TIME, June 1, 1953), is getting a big addition. For $35 million, Philadelphia Contractor Matthew McCloskey bought the 24-story Pennsylvania Suburban Station Building, will build a four-or five-story transportation center nearby, topped by an eight-story tower for offices for the Pennsylvania Railroad.

Another McCloskey project, also part of the Penn Center deal: a 500-unit apartment house.

CIGARETTE-SMOKING in the first quarter of 1954 was down 5% from last year. Philip Morris & Co. predicts 3% to 5% drop in unit cigarette sales for all of 1954, but dollar sales "almost equal to the industry's best year (1953)."

PAN AMERICAN World Airways hopes to cash in on West Germany's fabulous economic revival by starting direct flights between Berlin and New York. Scheduled time is 17 hrs., 11 min., including stops at Hamburg, Prestwick Airport, Scotland, and occasionally Gander, Nfld. Fare. $343.40 one way.

RAILROAD COACH FARES cheaper than bus rates will be tried out by the Missouri-Kansas-Texas Railroad on the most heavily traveled section of its main line in Texas. Round-trip rates from San Antonio to Dallas will be cut from $13.20 to $8.80, v. the bus fare of $11.35. If a six-month trial works, the cut will be extended through the entire system, which has suffered a big drop in passenger revenues.

TRADE WITH CHINA is being pushed hard by Britain, which has issued a new list of "nonstrategic" items that can be exported. Among Britain's allowable exports: metal-working machinery, conveyers, mathematical and drawing instruments, antibiotics.

STOCKPILING PROGRAM for lead and zinc, aimed at helping the mining industry, will be extended to other strategic metals after July 1. Total purchases are expected to reach $2 billion.

SEARS, ROEBUCK, which has always plugged its own Kenmore line of home appliances, will add G.E., Westinghouse and other national brands to its fall-winter catalogue. The mail order house's theory is that if a product is selling well, Sears should sell it.

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