Federal Reserve Chairman Alan Greenspan said that despite signs the U.S. economy is slowing there is no evidence of fundamental deterioration that would require action to lower interest rates. ''There are no indications of building up of inventories or cumulative layoffs in any of the data we see," Greenspan said at the close of the International Monetary Conference.
Money market mutual fund yields were mixed in the latest reporting week. The Donoghue Organization said average seven-day simple yields dropped to 7.67 percent, from 7.68 percent, and 30-day simple yields rose to 7.69 percent from 7.68.
Commerce Secretary Robert Mosbacher and Justice Department antitrust chief James Rill wrote to Congress opposing a bill that would re-regulate cable TV rates. Introduction of competition would better serve consumers, they said.
An FCC ruling that states cannot regulate so-called "enhanced services" offered over telephone lines, such as access to on-line computer databases, has been overturned by a federal court in San Francisco.
A bill to halt future JOAs has been introduced by Rep. Carl Pursell (R-Mich.). The bill would repeal the 20-year-old law that allows competing newspapers in the same city to merge their business operations under pacts known as joint operating agreements. Leaders of Citizens for an Independent Press, an organization whose members include publishers of small newspapers, endorsed the bill.
Businessland Inc. announced a long-awaited deal to sell personal computers in Japan through a $20 million joint venture with five major Japanese electronics manufacturers and distributors. Businessland will hold a 54 percent equity stake in the venture, to be called Businessland Japan Co.
Infotechnology, the New York holding company, increased its stake in Hadron, a Fairfax-based engineering and computer services firm, 12.64 percent, or 1.8 million common shares, from 10.8 percent. Infotechnology said it may buy more Hadron shares periodically.
The Sakowitz specialty stores, with the exception of the one in Cincinnati, were slated for liquidation after no bids were received for the Texas-based retailer at a bankruptcy court hearing. The chain, which also includes four stores in Houston and one in Dallas, is 80 percent owned by the bankrupt L.J. Hooker Corp.
Sears is offering to fix anything in a customer's house, regardless of manufacturer or seller, for one annual fee -- $598. This ''super service contract,'' being tested in Chicago, Minneapolis and other markets, is one of several ways in which the retailer is seeking to broaden what analysts say is a profitable extended-warranty business.
MCI Communications and Hotelecopy Inc. said they have agreed on a joint marketing program designed to increase usage of a fax mail service and to allow MCI to compete in the hotel industry. MCI will transmit all of Hotelecopy's facsimile traffic from self-service fax-mail terminals installed in airports and other public locations.
Visix Software of Reston announced distribution agreements with BIM Corp. of Belgium, the Lionel Singer Co. of Australia and Workgroup Technologies Corp. of Massachusetts. Under the agreements, Visix's Looking Glass, an icon- and mouse-driven graphical interface for Unix, will be marketed and distributed by these companies in Belgium, Australia, Canada and the United States.
The National Geographic Society and Imax Systems Corp. of Canada said they were starting a joint venture to produce giant-screen motion pictures. The movies will be about natural history, science, exploration and peoples of the world.
Rolls-Royce reached an agreement in principle under which a Japanese conglomerate will produce 5 percent of the parts for the Rolls-Royce engines to be used in Boeing's as-yet-undeveloped 777 jetliner. The Japanese firm is Ishikawajima-Harima Heavy Industries.
France's Cabinet voted to ban all tobacco advertising by 1993 in what would be one of the world's toughest anti-smoking laws. The proposed legislation also would severely restrict advertising for alcoholic beverages.
Switzerland requested membership in the International Monetary Fund and the World Bank, part of the United Nations system. Switzerland has never joined the U.N.
Hewlett-Packard signed a three-year contract to supply up to $400 million worth of computer workstations to Mentor Graphics Corp.
Martin Marietta and TRW won NASA contracts to prepare designs for a support module, which would be used to refuel and repair satellites in space.
Robert A. Schoelhorn, former chairman of Abbott Laboratories, has asked a judge to force the company to pay him $21,700 in dividends and remove restrictions preventing him from selling shares in Abbott.