Donald Trump said his bank lenders were "very close" to agreeing on a plan that would bail him out of his cash squeeze, and bank sources said several Japanese banks that had been blocking the deal seemed to have changed their minds and were willing to support it.
Durable goods orders jumped 3.9 percent in May after falling 4.2 percent in April, the Commerce Department said. Analysts said it was evidence the economy's sluggish manufacturing sector may be bouncing back. Durable goods are items such as automobiles and appliances that are expected to last at least three years.
Martin Marietta was scheduled to attempt to launch a $150 million Intelsat communications satellite this morning from Cape Canaveral. A bungled launch by Martin Marietta in March left an earlier satellite stranded in a useless orbit.
C&P Telephone, echoing tactics used by other regional phone companies, said it might consider a three- to five-year freeze on basic residential telephone rates in the District in exchange for the ability to set its own prices for competitive services such as Centrex, yellow pages directories and pay phones.
Northrop unveiled the twin-tail, twin-engine YF-23, its version of the supersonic Advanced Tactical Fighter, a prototype competing against Lockheed for a shrinking share of defense dollars.
A federal appeals court reinstated a potential multibillion-dollar lawsuit by the states of California, Arizona, Oregon and Washington that accuses seven oil companies of conspiring to fix prices and contrive a gasoline shortage in the early 1970s. The suit was dismissed in 1986 by a judge who said the states had failed to present evidence of a conspiracy.
Lisa Ann Jones, a former Drexel Burnham Lambert trading assistant who was convicted for lying to a grand jury investigating Wall Street corruption, was resentenced to 10 months in prison and a $25,000 fine after an appeals court found her original sentence, 18 months in prison and a $50,000 fine, was too stiff.