US Sprint announced an agreement establishing the first commercial, international video-conferencing service in the Soviet Union. The pact between US Sprint and the Soviet Ministry of Communications provides for interconnection between US Sprint's Meeting Channel network and a newly constructed digital video-conferencing room in Moscow.
Consumer credit advanced $3.9 billion in May at an annual growth rate of 6.5 percent on an increase in revolving credit, the Federal Reserve Board said. The modest April increase in consumer credit was revised down to $390 million from $584 million and followed an increase of nearly $2.6 billion in March, the Fed said.
Baltimore Gas & Electric's credit rating is being reviewed by Moody's Investor Service for possible downgrading. Moody's said its action, which affects about $2.5 billion of securities, was prompted by continued outages at the Calvert Cliffs nuclear units, which represent about 47 percent of BG&E's power generation.
Japanese developer Yoshiaki Tsutsumi topped the Forbes magazine list of the world's richest people for the fourth year. Forbes estimated his net worth at $16 billion, up about $1 billion from last year. The annual tally also has one conspicuous deletion this year: Donald Trump.
Tempest Technologies of Herndon has signed Signal Processing Systems Inc. as its exclusive sales agent to the National Security Agency. SPSI is a Maryland-based company specializing in digital signal processing and security-related systems. Tempest designs and manufactures modifications for computer and peripheral equipment.