Orders to factories for manufactured goods were up 1.8 percent in August, in part because of rising oil prices resulting from the Persian Gulf crisis, the government said. Analysts said the oil-inflated boost disguised the industrial sector's weakness.
Money-market mutual fund yields were unchanged or higher in the latest reporting week, with average seven-day simple yields at 7.48 percent, up from 7.47 the previous week, and 30-day simple yields unchanged at 7.47 percent.
Merger and acquisition activity in the United States continues to decline, falling 52 percent for the third quarter and 47 percent for the nine months from year-earlier periods, IDD Information Services said.
Goldman, Sachs formed a large fund to invest in debt-laden companies, joining a growing list of prominent Wall Street brokerages to see opportunity in the excesses of the 1980s. The firm said that since April, it has raised $683 million for the fund, called the Water Street Corp. Recovery Fund I, L.P.
Singapore Airlines agreed to buy 30 Boeing 747-300 airliners for a total of $5.5 billion.
Delta Air Lines agreed to buy two McDonnell Douglas MD-11 tri-jets and 26 MD-90-30 medium-range twin jets. Delta also took options on 22 additional MD88s.
Rowland Worldwide, the public relations subsidiary of Saatchi & Saatchi, and the fifth-largest public relations firm in the world, acquired Dyson Communications, a Swiss public relations firm with offices in Zurich and Geneva. Terms were not disclosed.
The Tisch brothers raised their stake in Continental Bank to 8.5 percent of the common shares outstanding. An investment group, led by Laurence and Preston Tisch, told the SEC it owns 4.2 million shares.
The New York Public Service Commission will conduct a study on a possible reorganization of Nynex Corp. The move was prompted by the results of an investigation in a rate case.
The Justice Department confirmed it would not intervene in a lawsuit against US Sprint by two former employees, the Kansas City Star reported.
HUD will take over a Chicago luxury high-rise development that borrowed almost $159 million in federally backed money in what officials called the biggest federal mortgage insurance program bailout.
Dai-Ichi Kangyo Bank, in the latest sign that Japan's ability to provide financing for global growth is diminishing, is sharply curbing growth of overseas lending. The bank, Japan's largest, said it plans to slow the growth in its foreign loans to 6 percent in the fiscal year ending March 31, down from 18 percent the previous year.
McDonnell Douglas won a $124.9 million Navy contract for 125 Standoff missiles.
David L. Brinson resigned as president of Trustbank Savings F.S.B. of Tysons Corner, 10 months after being named to the post. Trustbank Chairman William L. Walde will assume his duties.
Salt Lake City, with its well-skilled workers, convenient transportation and low taxes, was rated the best city for doing business in a Fortune Magazine survey.