Mutual fund sales declined to $10 billion in September from $11 billion in the same month last year and $13.4 billion in August, the Investment Company Institute said.
Treasury-note yields fell. The Treasury auctioned two-year notes at an average discount of 7.84 percent, the lowest since 7.71 percent in December 1989.
Unocal is taking advantage of higher oil prices to drill new oil wells in the United States and Canada. An official said the company will spend $33 million to drill 93 new wells this year.
Mobil unveiled an advertising and public relations program to encourage consumers to bring their used motor oil to Mobil stations for recycling.
IBM introduced two new workstations designed to perform up to 2 1/2 times faster than the previous top-of-the-line personal computer.
AT&T extended to residential customers a foreign language interpretation service it offered businesses last year. For $3.50 per minute, customers will be able to get an AT&T interpreter on the line to translate a phone conversation with a third party.
Dow Jones & Co.'s debt was downgraded slightly by Moody's Investors Service, citing lower ad revenue at the company's publications and lower revenue from its electronic information services.
United Airlines will raise fares on most domestic flights by 5.8 percent today, joining other major carriers.
America West Airlines will freeze hiring and eliminate some flights after reporting a $22 million loss for the third quarter of 1990.
Mario Gabelli-led companies increased their stake in Affiliated Publications to 12.26 percent of the common shares outstanding. In a filing with the SEC, the group said it holds almost 6 million shares in Affiliated.
General Cinema, taking advantage of its large pool of available cash, said it would acquire from the public the 40 percent stake in Neiman Marcus Group it doesn't already own. The company said it would pay $14.40 per share for the stock in the specialty retailer.
Atlantic Research of Springfield acquired two Canadian engineering firms, AMTEK Management and AMTEK Testware. Terms were not disclosed.
Warren E. Buffett sold his 50 percent interest in the National Corporation for Housing Partnerships for "slightly in excess" of its $72 million book value to Harvard University Endowment's management company, a Harvard spokesman said. The corporation is the largest owner and operator of low- and moderate-income housing in the nation.
Polly Peck's offices in London were raided by fraud investigators. British newspapers said the raiders were looking into alleged efforts to support the stock price of the conglomerate, which last week sought bankruptcy protection while it sorts out its debt problems.
Virginia Power trimmed its request for higher rates for a third time as a State Corporation Commission hearing examiner opened three days of testimony on the case.
American Airlines urged the Department of Transportation to reconsider its decision of awarding the Chicago-Tokyo route to United Airlines.
A Control Data unit won a competition to provide the Canadian armed forces with a communications system valued at more than $1 billion.