The delinquency rate of consumer loans increased in the April-to-June quarter after falling the previous two quarters, said the American Bankers Association. A survey of 800 banks showed the delinquency rate on consumer loans at 2.55 percent.
1/2.S. workers' productivity rebounded in 1990's second quarter, rising at an annual rate of 1.5 percent for the first such increase in 18 months, the government said.
The manufacturing sector slowed during August for the second straight month as production and new orders dropped to 47.0 percent from 47.4 percent in July, according to a survey of purchasing executives.
Electronic Data Systems reached agreement with an affiliate of the billionaire Pritzker family to acquire Westwood Equities, whose holdings include Ticor Title Insurance Cos. of California, one of the nation's largest title insurance companies. Terms were not disclosed.
K mart and its subsidiary, K mart Taiwan Ltd., agreed to pay a $6 million fine levied by the U.S. Customs Service on charges of violating quota controls on textile imports from Taiwan and South Korea.
PacifiCorp of Oregon dropped its pursuit of Phoenix-based Pinnacle West Capital but is getting the power exchange it wants. The companies announced an agreement that allows PacifiCorp to buy part of the Cholla power plant and exchange power during differing peak use seasons.
Shannon Fairbanks, executive vice president of the American Real Estate Group of Irvine, Calif., was appointed by President Bush to the board of the Federal Home Loan Mortgage Corp. Fairbanks, former executive director of the Federal Home Loan Bank Board, is the fourth of five presidential appointees to Freddie Mac's board.