COMPANIES

Amdahl Corp. announced a new line it said includes the most powerful computers ever for the IBM-compatible market. The top model of the 10-model line will include eight processors -- two more than IBM says will be in its next-generation mainframe due out next year.

Businessland, which sells computers primarily to large corporations, said it would lay off 370 workers, or about 10 percent of the company's work force, in a cost-cutting move aimed at reversing three straight quarters of losses.

Sony will market a car digital audio tape player and a DAT Walkman personal stereo recorder-player by the end of the year. The car player will sell for $1,100 and the portable machine for about $850.

Ralston-Purina will close its pet food plant in Mechanicsburg, Pa., by early December, continuing a streamlining effort.

Harris Corp. said it will invest about $225 million to build a semiconductor manufacturing facility in Plymouth, England, that will begin serving the company's European customers by the mid-1990s.

Waste Management's directors authorized the repurchase of up to 25 million common shares over the next 24 months. The firm has about 486 million shares outstanding.

COURTS

Hearst Corp.'s constitutional challenge to an Iowa tax law was rejected by the state's Supreme Court. The court said it found "no censorial threat, motive or element" in the law, which applies a 4 percent sales tax to magazines while exempting newspapers.

Chevron's lawsuit accusing Pennzoil Co. of concealing its intentions when it bought 8.8 percent of Chevron's stock was dismissed by a federal judge.

Bolar Pharmaceutical said a class-action suit has been filed against it alleging violations of federal racketeering and securities laws in connection with the company's application to make and market a generic version of Marion Laboratories's drug Cardizem.

REGULATION

Shearson Lehman Hutton and three smaller brokerages have agreed to pay $3 million to three New York Teamster pension and welfare funds to settle a Labor Department complaint. The department had accused the brokerages of manipulating the funds' accounts to benefit themselves and in some cases individual brokers and their friends and relatives.

The FCC, reversing an earlier stand, said it would not renew the license of a Chicago television station that had eliminated its local public affairs programming. The FCC awarded the license for WSNS, Channel 44, to Monroe Communications Corp. of Chicago. Monroe in April won a court challenge to the FCC's original decision to renew the license held by a group of Chicago-area investors.

CONTRACTS

ERC Environmental & Energy Services of Fairfax was selected for negotiations for the Naval Facilities Engineering Command in Pearl Harbor for its comprehensive environmental action program.

Communications Resource Group of Columbia, Md., received telephone contracts worth $9.5 million from the General Services Administration.

PEOPLE

Legent Corp. of Vienna named John F. Burton president, chief operating officer and member of the board of directors, replacing Peter J. Barriss, who resigned to "simplify the management structure" of the company.