FINANCE

Westinghouse Revamps Ailing Unit: Westinghouse Electric Corp., cleaning up its troubled financial services unit, arranged to sell more than $700 million worth of assets in the fourth quarter, a spokesman said. Westinghouse Financial Services has been dogged by bad loans and was forced to take a huge write-down in the third quarter, leading to a $1.48-billion loss. Investors, who had taken the stock down to a 52-week low on the losses at the company, cheered the announcement and sent Westinghouse shares up $1.375 to $19.50 on the New York Stock Exchange.