Also. . .

* The Senate Banking Committee unanimously approved SEC Chairman Arthur Levitt Jr. for a rare second term. The nomination now moves to the Senate, where approval is expected.

* W.R. Grace & Co. agreed to acquire Crosfield Group from Britain’s Imperial Chemical Group for $445 million, bringing it catalysts, silicas and other mineral products that fit with its Davison unit.

* Woolworth Corp. is changing its name to Venator Group and said it plans to spend more than $1 billion in the next three years to open or renovate 4,387 stores, many in its core athletic businesses, including Foot Locker and Champs. Venator means “sportsman” in Latin.

* Interferon Sciences Inc. said a “major restructuring” of its operations will probably be necessary after the Food and Drug Administration rejected its application seeking approval of its Alferon N drug for patients with HIV.

* Kohlberg Kravis Roberts & Co. said it has made an equity investment in Boyds Collection Ltd., a privately held distributor of collectible stuffed animals and other toys. The leveraged buyout company did not disclose terms of the deal.

* Procter & Gamble Co. plans to invest $300 million in its plants in Mexico over two years to expand production and improve quality of its products, such as table napkins, tissues and toilet paper.