The Treasury increased the size of its weekly offering of three- and six-month bills to $18 billion, with the three-month bill trading at 7.71 percent and the six-month bill at 7.60 percent. The notes go on sale next week. Also next week, the Treasury plans to sell $8 billion in seven-year notes, and The Resolution Funding Corp. will sell $5 billion in 30-year bonds on Tuesday to help the thrift rescue. The new bonds will be dated July 17 and will mature July 15, 2020.
Factory orders increased 2.1 percent in May, the Commerce Department reported. Analysts said the gain, coming in the wake of a 2.1 percent decline in April, could be an indication that American industry is starting to recover from its slump.
The Comptroller of the Currency, which oversees national banks, proposed increasing its assessments on the institutions by 8 percent and raising other fees to meet its rising operating costs.
Exxon plans to build a plant in Lynchburg, Va., to produce its Taffen composite material. Construction of the plant, which initially will produce 15 million pounds of the material a year, is scheduled for start-up early next year.
The Discovery Channel has leased new office space at 7700 Wisconsin Ave. in Bethesda, a development of Polinger Co. and Tower Cos. The cable television outfit plans to move its headquarters from Landover in December.
Donasphere Ltd., a Springfield-based computer retailer, has signed a letter of intent to establish a distribution center to service a 24-store Hungarian state-owned computer company under the Entre Computer Center. A recent license agreement also gives Donasphere the rights to service the Entre network in Czechoslovakia and Poland.
GE formed a partnership with SNECMA of France to develop a high-thrust jet engine, the companies announced. GE expects the engine to be the most powerful commercial engine ever developed, and hopes to have it in use by the middle of the decade.
Foremost Corp., the largest U.S. insurer of mobile homes and recreational vehicles, abandoned its five-month attempt to find a buyer. The decision was made after FAI Traders Insurance of Australia said it was no longer interested in buying the Grand Rapids, Mich., firm.
ABC has signed with Panamsat, operator of the world's first privately owned international telecommunications satellite, to distribute programming from the United States to Europe. Terms were not disclosed.
United Employee Acquisition, the union-led group seeking to acquire United Airlines, named John Edwardson as its chief financial officer. Edwardson formerly was executive vice president and chief financial officer at NWA, parent of Northwest Airlines.
United Parcel Service acquired Seabourne European Express Parcels for an undisclosed amount in an effort to develop a Pan-European ground delivery network. Seabourne European Express is a division of Seabourne Express Ltd., a transportation company with headquarters in Belgium.
Global economic growth is likely to slow further in 1990, and growth in Eastern Europe and the Soviet Union is virtually at a standstill, according to the 1990 World Economic Survey by the U.N. Department of International Economic and Social Affairs.
SSI Services, Sverdrup Technology and Calspan Corp. received Air Force contracts totaling $1.1 billion for rocket testing and support at Arnold Air Force Base in Tullahoma, Tenn.
American Management Systems, an Arlington-based information technology firm, has been awarded a multi-year contract by Rochester (N.Y.) Telephone Corp. to develop a new customer information system. Terms of the contract were not disclosed.
Lockheed received a $188.4 million Air Force contract for C-130-H aircraft.
STC Submarine Systems received a $40 million Navy contract for fiber-optic cables.
Rockwell International received a $39.8 million Air Force contract for communications equipment.
James L. Arnold, vice president and general counsel of Fairfax-based Hadron Inc., has been elected chairman, the company said.