Mortgage rates rose this week. Fixed-rate mortgages averaged 10.16 percent, up from 10.13 percent last week, while one-year adjustable-rate mortgages averaged an initial rate of 8.30 percent, up from 8.26 percent, the Federal Home Loan Mortgage Corp. said.
Chile and its major bank lenders last night reached an agreement to postpone until 1995 repayment of about $1.8 billion in loans that mature in the next several years. The banks and the country also announced a $320 million bond offering that Chilean Finance Minister Alejandro Foxley said will satisfy most of Chile's anticipated foreign reserve needs for the next three years.
Ford of Canada and the Canadian Auto Workers union reached a tentative contract agreement that, if ratified, would end a week-long strike over wages at nine of Ford's Canadian plants.
SEC nominee Richard Y. Roberts said during confirmation hearings that stepped-up enforcement of securities laws will help bring small investors back to the nation's financial markets and that his top enforcement priorities would be rooting out insider trading and penalizing fraudulent investment advisers.
Resolution Trust Corp.'s oversight board instructed staff members to review whether the federal government should provide more financing for buyers of failed S&Ls, and also to review the 1988 and 1989 sales of failed thrifts by the now-defunct Federal Savings and Loan Insurance Corp.
The New York Stock Exchange is seeking SEC permission for a rule change to alleviate market volatility when stock-index futures and options expire each month, an NYSE spokesman said. The rule could curb certain types of program trading.
ABC News will buy a majority interest in Worldwide Television News, a London-based news agency with 1,000 clients, including CBS News and Cable News Network. Terms were not disclosed.
Japan, ending months of talks with the United States, has agreed to buy for test purposes 32,000 power transformers that contain an American-made high-tech material known as amorphous metal. The agreement settles a complaint brought by Allied-Signal, which charged that Japanese officials and companies were blocking imports of the material.
RJR Nabisco's international tobacco unit said it will ship an additional 3.2 billion cigarettes to the Soviet Union. The unit already had agreed to supply 14 billion cigarettes to the Soviets.
A computer virus named after one of author J.R.R. Tolkien's characters from "The Lord of the Rings" trilogy is scheduled to activate itself today, destroying files in some personal computers with the message "Frodo Lives," the Computer Virus Industry Association said. Sept. 22 is Frodo's birthday.