Also. . .

* Avon Products Inc., the world’s biggest seller of perfumes and cosmetics directly to consumers, won permission from China to resume sales--though only through retail stores--following a recent ban. China banned all direct sellers on April 21 on concern about the growing number of fraudulent companies. New York-based Avon will be allowed as of June 15 to wholesale its merchandise to retail stores. The company also plans to convert its 75 branches into retail stores. Avon had $75 million in sales from China in 1997, about 1.5% of its total $5.1 billion in sales.

* Broadway Federal Bank, the 12th-largest African American-owned bank in the nation, will move its headquarters to mid-Wilshire from the Crenshaw area. With $128.4 million in assets, Broadway currently has five bank branches and will be opening two more. The mortgage lender was founded in 1947 at 45th and Broadway, but the original headquarters burned down during the 1992 riots.

* Cleveland-based Diebold Inc., the leading U.S. maker of automated teller machines, said it would cut about 8.5% of its work force and may take a charge because the banking industry’s recent consolidation wave and a focus by its customers on so-called year 2000 computer problems has slowed ATM demand.

* Long Beach-based Mikasa Inc., a maker of fine china and gift ware, plans to take a $2.4-million pretax charge in the second quarter to close one of its two East Coast office and distribution centers and cut 218 jobs.

* Sweden’s Astra is close to buying Whitehouse Station, N.J.-based Merck & Co.’s half of their U.S. sales venture, according to people familiar with the deal. Astra, which is expected to announce the deal next week, will first pay up to $3 billion for Astra Merck Inc., with further payments over 10 years. Astra makes the ulcer medicine Losec.