T-bill yields were mixed at the government's delayed weekly auction. The Treasury auctioned 13-week bills at an average discount of 7.20 percent and 26-week bills at an average of 7.16 percent.
Mutual fund assets fell $673.1 million in the latest week, the Investment Company Institute said. The decline to $414.44 billion in the seven-day period ended Wednesday followed a $3.76 billion increase in fund assets the previous week.
Eastern Air Lines received a bid from Carl Icahn, the TWA chairman, for Eastern's Atlanta hub and its maintenance base in Miami, according to a press report. Icahn told the Kansas City Star his offer includes more than 50 gates in Atlanta but declined to say what he would pay for the assets.
Avon hired an investment firm, James D. Wolfensohn Inc., to advise the cosmetics company on ways to increase the value of its stock for shareholders. Avon has been under pressure to increase the value of its stock from Chartwell Associates, which has a 20 percent share of the company's voting stock.
GM's Delco Electronics division will add 550 jobs as part of a $41 million expansion in Kokomo, Ind.
Lufthansa will resume its service to Berlin for the first time in 50 years Sunday and will operate more than 300 domestic and international flights weekly out of the German capital. Allied regulations have barred the airline from flying to the city where the carrier was founded in 1926.
The Senate passed a bill to create a high-speed data transmission network, National Research and Education Network, using fiber optics to link computers scattered around the country.
The Chicago Board Options Exchange has been cleared by regulators to trade stocks and other securities instruments in addition to options.
Bank of Boston posted a $255 million loss in the third quarter.
Tenneco reported third-quarter income rose 1 percent.
Whirlpool's third-quarter profits advanced nearly 28 percent, the result of the sale of a Kentucky plant.
Xerox reported a 14.8 percent drop in third-quarter earnings.
Garth Ancier, hired by Walt Disney Co. 1 1/2 years ago to strengthen Disney's television department, has resigned as head of network production amid reports of a power struggle within the company.