Saatchi & Saatchi, the London-based advertising conglomerate, sold its U.S. consultancy Gartner Group for $70 million. Information Partners, a Boston-based investment group, will pay cash and a promissory note or shares for Gartner.
Nomura Securities Co. placed Max Chapman, former president of Kidder, Peabody and Co., on its board of directors, making him the first American to be appointed to the board of a Japanese financial company, Nomura officials said.
In Australia, a run on deposits forced the state of Victoria to close a group of lending institutions to prevent a chain reaction. The move involved so-called building societies, which are similar to S&Ls in the United States, owned by Farrow Corp., the southeastern state's largest such institution.
A former NCR employee pleaded guilty to two counts of fraud for plotting to steal trade secrets from his employer and sell them to Unisys. Anthony S. Latchoo, 29, a former products manager at NCR, which also makes computers, faces a potential 10 years in prison and a $500,000 fine.
Japan is reportedly putting pressure on the Bush administration to ease restrictions on log exports. The Oregonian, a Portland, Ore., newspaper said Ryohei Murata, Japanese ambassador to the United States, wrote to U.S. Trade Representative Carla Hills asking the government to oppose tougher export restrictions.
Bechtel Investments sold Dual Drilling -- one of the world's largest offshore drilling contractors with extensive overseas operations -- to Norway's Mosvold Shipping for $170 million.
The World Bank and its affiliate, the International Development Association, approved a total of $20.7 billion in loans to developing nations in the 1990 fiscal year, $600 million less than the prior year, according to a new report.
Many oil companies are expanding their emphasis on foreign exploration and development and increasing their overseas energy reserves, according to an Arthur Andersen Oil & Gas survey. Foreign exploration and development exceeded spending on domestic exploration for the first time, the survey found.