Money market fund assets rose $865 million in the latest week to a new record of $410 billion, the Investment Company Institute said.


Bass, the British brewer, said it will invest $1 billion in its Holiday Inn hotel chain over the next three years.

Blockbuster Entertainment said it will team with the Japanese company Fujita to develop and franchise Blockbuster video superstores in Japan.

James Madison, the parent firm of Madison National Bank, will close its equipment leasing subsidiary. A company spokesman said it was not sufficiently profitable.

Nova Pharmaceutical received a research grant from the National Institute of Mental Health to develop corticotropin-releasing factor antagonists, chemical agents that may be useful in the treatment of anxiety and depression.

United Airlines employees moved closer to their proposed buyout of parent UAL after a Dutch bank agreed to join four U.S. banks in lending the employees' group $350 million each. The development brought the total tentative commitments to $1.75 billion, still short of the $2 billion in bank loans the workers need, according to one person familiar with the situation.


The European Community adopted a $45.5 million program to help cut energy use by 12 percent over the next five years. Program SAVE, as the plan is known, calls for several steps to encourage more efficient energy use, including regulatory measures and financial support of conservation techniques.


Pipeline companies that allegedly profited illegally from higher natural gas prices in the early 1980s agreed to a $432 million settlement in an antitrust suit brought by utilities. Agreeing to the settlement were Amoco Production, Oxy USA and Williams Natural Gas.


The Bank of New York purchased Bank of New England Associates, the investment banking subsidiary of the Bank of New England, for an undisclosed price. The subsidiary will be renamed Bank of New York Associates, officials said.

Media General took off of the market its 220,000-ton newsprint recycling mill in Garfield, N.J., after receiving no acceptable offers.

Reynolds Metals agreed to buy a 75 percent interest in an aluminum wheel plant at Collingwood, Ontario, but declined to state the price.


Andersen Consulting of Dallas won a 10-year, $200 million contract from Sun Refining and Marketing to provide computer processing and network services to the energy company and its affiliates.

General Dynamics received $75.5 million in Air Force contracts for F-16 aircraft testing and development of the X-30 national aerospace plane.


Howard Buschman III, the judge in charge of the Drexel Burnham Lambert bankruptcy, has removed himself from the case. Buschman said he is considering taking a job with a creditor in the case.

Pehr G. Gyllenhammar, chief executive of Volvo, resigned. Gyllenhammar will assume the position of executive chairman of Volvo's board and will hand his former position over to Christer Zetterberg, currently chief operations officer.


Speaker phones aren't as popular as might be expected, as a survey by the temporary-worker agency Accountemps found that nearly 50 percent of executives said they hated the devices.