Supermarket food prices have increased faster than expected so far this year -- an average of nearly 7 percent -- but should moderate during the rest of 1990, said Denis Dunham, an economist with the U.S. Department of Agriculture. At the same time, price increasingly is a factor in consumer decisions about where to shop, according to a survey by the Food Marketing Institute, a nonprofit trade group.
Cable News Network plans to move its Washington studios from the Union Labor Life Building at 111 Massachusetts Ave. NW to an office building soon to bear the CNN name at 820 First St. NE, near Union Station. The Atlanta-based cable network has leased the top 2 1/2 floors of the 11-story building, which is being developed by Greenebaum and Rose Associates.
U.S. crude oil futures contracts increased by nearly $1 a barrel in a last minute buying surge following a report that Saudi Arabia would cut its output to shore up depressed prices. On the New York Mercantile Exchange, the benchmark West Texas Intermediate grade for August delivery shot up 99 cents to settle at $18.46 a barrel.
Maryland's unemployment rate was unchanged in May at 3.3 percent, but the rate for the state's Washington suburbs climbed slightly, from 2.3 percent to 2.4 percent, the Maryland Department of Economics and Employment Development said. The rate, not adjusted for seasonal factors, was lower than it was in May 1989.
IBM and Diebold will combine their automated teller machine operations and market the products worldwide under a joint venture. No dollar value was placed on the deal.
Goodyear and Bridgestone-Firestone announced tire price increases of 2 percent to 4 percent for August and September. The companies said the price boosts are needed to cover the increased business costs.