T-bill yields fell. The Treasury sold 13-week bills at an average discount of 7.07 percent, down from 7.12 percent last week, and 26-week bills at an average discount of 7.05 percent, down from 7.13 percent. The investment rate was 7.30 percent on the three-month bills and 7.41 percent on the six-month bills.
The Big Three automakers' sales of North American-made cars and light trucks rose 5.3 percent in late October and were up 2.7 percent for the first month of the 1991 model year.
Working oil and gas rigs in the United States have increased by 37 to 1,144, the highest count in nearly three years, oil toolmaker Baker Hughes reported.
United Press International said it will be forced into liquidation in less than two weeks unless union employees accept a 90-day pay cut of 35 percent. The union said it is urging rejection of the demand.
General Cinema canceled plans to buy the 40 percent of the Neiman Marcus Group that it does not already own for about $240 million. General Cinema said it took the action because a committee of the Neiman Marcus board withdrew its support for the tender offer.
Navistar International reached a settlement ending a strike by 8,000 employees in six states.
Hanger Orthopedic Group of Bethesda plans to raise as much as $22 million with an initial public offering of 2.25 million common shares. Hanger will use the proceeds to retire debt and for general corporate purposes, according to an SEC filing.
Delta Air Lines said it will expand its service to Japan this week with flights to Tokyo through Los Angeles and to Nagoya through Portland, Ore.
Zapata Corp. said it began tender offers for outstanding debentures as part of a restructuring plan that, if unsuccessful, would likely lead Zapata to seek protection under federal bankruptcy law.
IBM, Northern Telecom and Nynex are collaborating on computer equipment and software that will display information about incoming telephone calls. The systems match the number of an incoming call with a computer file. The file then pops up on a screen, using the same technology as residential "caller ID" systems.
Intel announced new chips that should cut the cost of adding video technology to personal computers.
Chrysler's tentative three-year contract reached last week with the UAW was approved by a UAW council. The union expects voting by rank-and-file workers to be completed within two weeks.
Robert Glauber, Treasury undersecretary, told a securities industry conference that he was disappointed with Congress in its handling of stock index futures regulation and oversight of government-sponsored enterprises. He specifically criticized futures industry lobbyists and the Federal National Mortgage Association for their opposition to Treasury proposals.
Cable & Wireless Communications of Vienna plans to buy the assets of Alba Data Technology of Vienna, operator of the troubled DataAmerica data communications service. Terms of the purchase from Galesi Group of Albany, N.Y., were not disclosed.
International airlines decided to file for new increases in passenger fares and freight rates of up to 8 percent starting in mid-December because of higher costs caused by the Persian Gulf crisis.
Malaysia Airlines ordered 10 Boeing 737-400 passenger jets valued at about $330 million. They will be powered by CFM56-3C engines, built by a consortium of General Electric and SNECMA of France.
Nationale Nederlanden, the Netherlands's largest insurance company, and NMB Postbank, the country's third-largest bank, said they plan to merge.
McDonnell Douglas received a $100.5 million modification to a Navy contract for 133 Harpoon missiles.
LTV Aerospace & Defense got a $63.2 million Army contract for 318 guided missile and launching assemblies.
John C. Marous, recently retired chairman and CEO of Westinghouse Electric, was named senior adviser to the Carlyle Group, the Washington- based investment firm.
Donald Trump is being forced by lenders to auction more than 100 unsold condominium units at the Trump Plaza of the Palm Beaches in West Palm Beach, Fla., to pay down his debt, the Miami Herald said.
John L. Petit, an ex-broker with Smith Barney, Harris Upham, settled charges that he illegally traded on information in advance copies of Business Week magazine. He agreed to pay $195,528 in fines and was barred permanently from the securities industry.
Michael Milken's sentencing will take place sometime next week, a federal judge said. The former head of Drexel's junk bond department could be sentenced to up to 28 years in prison on six counts related to illegal trading.
Volvo dropped an advertisement showing one of its cars withstanding attempts by a "monster truck" to crush it, after Texas officials challenged the ad as misleading. The officials said the other cars in the ad were weakened structurally, while the Volvos were reinforced with steel or wood.