RETAILING

Tosco Lowers Offer for Circle K: The Stamford, Conn.-based oil refining and marketing company said it will reduce its $900-million offer for the Phoenix-based convenience store chain after a Houston jury awarded a total of $18.2 million to four former Vietnamese managers who claimed they were fired because of race discrimination. Tosco Corp. said it will lower the amount it will pay Circle K Corp.’s largest shareholder, Bahrain-based Investcorp, by an unspecified amount to cover damages in several similar pending legal cases. A Tosco spokesman said the decision will not affect the amount Circle K’s public shareholders receive in the transaction. Tosco shares rose $1.125 to $51.25. Circle K added 25 cents to $31.375. Both trade on the New York Stock Exchange.