Motorola today will unveil technology, dubbed Wireless In-building Network, to send data between computers over radio frequencies. Apple Computer also recently notified the FCC it is interested in using the airwaves to transmit data between PCs. NCR announced a wireless network in September.
Kansas City Power and Light extended its $875 million tender offer for Kansas Gas and Electric stock until Nov. 30, keeping alive the first hostile takeover effort involving two major U.S. utilities. It said 47 percent of Kansas Gas and Electric's common stock has been tendered.
Hughes Network Systems of Germantown and McCaw Cellular Communications have formed a partnership to build a nationwide communications system that would allow airline passengers to make and receive telephone calls in flight as well as send or receive faxes and computer data. The system would require federal approval.
Nintendo, which has strictly controlled the manufacture of games for its entertainment systems, has offered U.S. companies that design the games the chance to manufacture them. The Japanese company said the experimental offer was unrelated to an FTC investigation of Nintendo for possible anti-competitive practices.
Eastman Kodak today will announce new products and standards intended to make full-color photographs and graphics more popular in desktop computer publishing. It said the products will build upon a system it unveiled last month that stores photographs electronically on compact discs and displays them on television screens.
MGM-UA Communications Co.'s long-delayed sale neared completion when Italian financier Giancarlo Parretti's Pathe Communications Corp. delivered the $967 million balance of the purchase price.
American Exploration, an independent oil and gas company, will acquire Conquest Exploration in a cash-and-stock transaction valued at $160 million.
The Open Software Foundation, an international computer software consortium whose members include IBM, Digital Equipment and Groupe Bull, was to announce today a new operating system designed to help users share information among different makes of computers.
Peru, seeking private capital for money-losing government-owned companies, has begun talks with U.S. and European airlines with the aim of selling part of national airline AeroPeru, the airline's president said.
Congressional conferees approved a trade measure that would require negotiations with nations deemed to hamper the activities of U.S. banks, brokerage firms and financial advisers. It is aimed primarily at Japan.
LTV asked a federal judge not to make it responsible for more than $2 billion in terminated employee pension plans despite a Supreme Court ruling that held the steel giant liable. The firm said the high court had decided only legal issues and had not taken into account LTV's weak financial situation.
A special court rejected a Conrail request that it decide whether the Delaware & Hudson Railway has the right to run its trains on a short stretch of Conrail tracks between Buffalo and Niagara Falls, N.Y. The 15-mile stretch is essential to a $25 million offer by Canadian Pacific to buy the ailing D&H.
Atlantic Richfield said third-quarter earnings rose 22 percent.
Phillips Petroleum reported third-quarter profits more than doubled from a year ago.
Ashland Oil said earnings more than doubled in its fiscal year. In its fourth quarter it had earnings of $59 million compared with a loss of $39 million in last year's quarter.
American Express reported that third-quarter earnings were up 4 percent.
Time Warner reported a $91 million loss in the third quarter, compared with a $180 million loss in the year-ago period.
Bankers Trust earned $170 million in the third quarter compared with a $1.42 billion loss in the same period last year.
Blockbuster Entertainment said third-quarter earnings were up 47 percent.
Union Carbide reported a 35 percent earnings drop in the third quarter.
Minnesota Mining & Manufacturing said third-quarter earnings rose 9 percent.
A Drexel junk bond customer with close ties to Michael Milken has agreed to plead guilty to criminal charges related to dealings with the firm, a federal prosecutor said. The government is expected to use the plea by Richard Grassgreen, who resigned last week as chairman of Enstar Group, to bolster its case at a pre-sentencing hearing on new allegations against Milken.
Colorado businesses will try to slash legal costs and reduce work-time losses by using negotiation and mediation before taking their disagreements to court. The new program, called "Colorado Pledge," involves the state bar association, the Denver Chamber of Commerce, the Colorado Association of Commerce and Industry and the National Federation of Independent Business.