AT&T will cut prices charged to the federal government for calls on the FTS-2000 telecommunications network by more than 10 percent next month.
Mortgage rates fell this week. Fixed-rate mortgages averaged 10.19 percent, down from 10.24 percent last week, while one-year adjustable rate mortgages averaged an initial rate of 8.29 percent, down from 8.30 percent last week, the Federal Home Loan Mortgage Corp. said.
Crude oil futures ended lower on the New York Mercantile Exchange as traders took profits yesterday. Light sweet crude for October delivery fell $1.39 to $30.04 per barrel, but October crude was up $2.58 per barrel for the week.
Federal regulators can subpoena Michael R. Wise, the former head of Silverado Savings and Loan, to appear at a hearing this month about whether Neil Bush violated conflict of interest rules, an administrative law judge ruled. Wise plans to assert his fifth amendment privilege not to testify at the hearing, said his attorney, Bettina M. Lawton.
The IRS ruled that employers cannot unilaterally cut off medical insurance coverage for military reservists called to Middle East duty.
Bethlehem Steel said it will make $100 million in improvements at its Johnstown, Pa., plant if it obtains concessions from the United Steelworkers union.
Airbus Industrie continues to receive subsidies from Western European governments that lead to unfair international competition posing a "significant long-term risk" to U.S. commercial aircraft makers, a Commerce Department official said.
McDonald's said more than 6,000 applicants this week flooded the office in southern China where it is hiring people for its first restaurant in the country. The company plans to open a 500-seat restaurant in the economic boom town of Shenzhen, near Hong Kong, on Oct. 8.
The Federal Reserve, for the first time in four years, did not intervene in foreign exchange markets last quarter in an attempt to affect the value of the dollar. During that time, the dollar fell 8 percent against the yen, 5 percent against the mark and 12 percent against the pound, but Fed officials said the decline did not pose a threat that needed to be countered.
Alaska Airlines and Horizon Air will raise ticket prices 4.7 percent Oct. 1, putting Alaska Air Group out front in the industry's second round of fare increases since the Persian Gulf crisis began.
Goodyear said it expects to lose $65 million in the third quarter ending Sept. 30 and plans to lay off 1,180 people in Europe by mid-1992.
Olsten Corp. agreed to buy Upjohn HealthCare Services. The subsidiary of Upjohn Co. had about $182 million in sales last year and accounted for 6 percent of Upjohn's total sales. The price was not disclosed.