GSA said implementation of the FTS-2000 federal telephone system will be completed this weekend, two weeks ahead of schedule.
Ames Department Stores is being investigated by the state of Maine for alleged antitrust violations as a result of Ames's October 1988 purchase of Zayre Stores, Ames said in an SEC filing.
GTE Northwest telephone workers in Washington, Oregon and Northern California went on strike for higher wages after talks on a new contract broke down.
USX Corp. expects to sell three blocks of Texas Oil and Gas properties, generating about $400 million that will be used to buy back shares and reduce debt, said Chairman Charles A. Corry.
USAir's $500 million shelf registration filed June 20 was given a preliminary Triple-B-Minus rating by Standard & Poor's.
Mortgage rates were mixed this week. Rates on 30-year fixed mortgages increased to an average 10.16 percent from 10.12 percent last week, while one-year adjustable-rate mortgages held steady at 8.50 percent, the Federal Home Loan Mortgage Corp. said.
Orbital Sciences of Fairfax won four contracts worth $20 million with the Army, the Air Force, the Strategic Defense Initiative Organization and Titan Corp. for suborbital launch vehicle activities.
Bankruptcy law got a boost as the New York law firm of Levin & Weintraub, Crames & Edelman announced it will join the firm of Kaye, Scholer, Fierman, Hays & Handler to form one of the largest bankruptcy departments in the country.
Rep. Edward Markey (D-Mass.) released a draft of proposed legislation to re-regulate cable television rates. Similar to a bill passed by the Senate Commerce Committee, the draft would give the FCC authority to review rate hikes, but has no specific proposal to let telephone companies enter the cable business.