SMALL CAR FOR CHRYSLER is in the works. Chrysler wants to import and distribute French Simcas, is dickering to buy Ford's 15% interest in Simca, plus big block of stock from Simca treasury. Price of Simca sedans in U.S.: $1,645 to $2,200.

PAY TV is off for another year at least. FCC will issue no permits for toll systems until next August, will give Congress plenty of time to act on several pending bills to outlaw paid video.

OLDER U.S. WHISKY will finally get a crack at luxury markets, long dominated by Scotch (and some Canadian brands), if all goes well. Senate Finance Committee voted 9-2 to allow domestic distillers to hold whisky in tax-free storage up to 20 years (current limit: eight years), and full Congress is expected to approve. Biggest gainer will be Schenley Industries, which holds by far largest stock of whisky older than six years.

10% AIR FARE CUT will be asked on flights in Europe by British European Airways to spur lagging sales.

If International Air Transport Association approves, other lines will have to follow suit.

LIFE-INSURANCE boom is stalled by recession. First-half sales fell 3% below last year, to $32,455,000,000.

JET CERTIFICATION for Boeing 707 is well ahead of schedule, will be completed by CAA about Sept. 1. Pan American will start first scheduled flights two months later.

TAX BREAK OF $260 million for small businessmen has been approved by House, is expected to pass Senate. Small businessmen may take 20% first-year depreciation on first $10,000 worth of investment in new equipment, will get more liberal tax reductions on business losses.

PER CAPITA DEBT in U.S. is now $4,310, has climbed 24% in last five years to "almost unbelievably large" total of $750 billion, says Chase Manhattan Bank. Yet debt is only 1.7 times the value of gross national product--no more, no less than average ratio since 1900.

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