U.S. HOUSE PLAN SEEKS TO BAR FOREIGN TAKEOVERS A House subcommittee voted to give President Reagan authority to block foreign takeovers of U.S. companies similar to the takeover of Schlumberger Ltd's <SLB> Fairchild Semiconductor Corp by Fujitsu Ltd which was withdrawn. The House Energy and Commerce Subcommittee on Commerce approved as an amendment to the overall House trade bill a provision giving Reagan the power to block sales to foreign companies if the sale was not in the national or economic interest. The takeover provision was sent to the full Energy and Commerce Committee for consideration as part of the overall trade bill which is being written by several House committees. The subcommittee's bill would bar imports of digital audio recording equipment that is not made with anti-copying chips. This provision is designed to protect U.S. companies from the unauthorized use of U.S. designs in foreign products. The bill calls for an investigation of whether U.S. engineering and construction firms are given adequate opportunity to bid on Japan's civil works procurement practices including the construction of the Kansai airport. The Energy and Commerce subcommitte rejected a plan offered by Rep. William Dannemeyer, a California Republican, to require the U.S. to pay investors one pct for the right to hold their gold investments in government storage. His amendment called for the government to sell gold coins and gold-backed bonds with maturities of 30 to 50 years to investors to reduce the federal debt.