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Reports that Goldman Sachs & Co. and Allianz AG of Germany are in talks to acquire a one-billion dollar stake in China's largest state-owned bank, the Industrial and Commercial Bank of China. Author's view that the talks come at a time when some of the world's biggest financial institutions are rushing into China to acquire states in some of the country's largest state-owned banks ahead of planned initial public offerings in the next few years; Review of recent deals involving state-owned banks and Bank of America Corp. and UBS AG; Comments on the deals from Jack J. T. Huang, overseer of China coverage for the law firm Jones Day in Taipei, Taiwan.

Reports that UFJ Holdings, the Japanese bank, posted a loss for its fiscal first half. Financial information; Efforts to reduce its bad loans ahead of a planned takeover by the Mitsubishi Tokyo Financial Group; Analysts' expectation of a loss; Views of industry experts; Outlook for a net loss for the year; Comments of UFJ's president, Ryosuke Tamakoshi; Decline of the bank's corporate lending due to Japan's economic slump.

Focuses on James L. Dimon, chief executive at Bank One. Implications of the merger of J.P. Morgan Chase and Bank One, which will create the second-largest bank in the U.S.; Biographical and career details; Comparison of Dimon with William B. Harrison, chief executive of J.P. Morgan; Dimon's eventual role as chief executive of the merged companies; Dimon's operational expertise as an executive under Sanford I. Weill, chairman of Citigroup; Outlook for the new banking giant.

Reports on the merger of two of France's biggest banks, Crédit Agricole and Crédit Lyonnais. Breadth and scope of the combined bank; Details of the merger; Focus on retail banking, specialized financial services and asset management; Possible challenges the banks may face integrating themselves; Outlook for the banks' credit ratings; Reactions of the French government, analysts and investors.

Reports the October 20, 1998 announcement by David Coulter, president of the newly merged BankAmerica Corp., of his resignation. The company's announcement of losses because of a loan to a hedge fund and disappointing third-quarter earnings; Comments from industry analysts about a rift between Coulter, who came from the old BankAmerica before the merger with Nationsbank, and chief executive Hugh L. McColl.