Dominic F. Antonelli Jr.

got an at least temporary reprieve when a federal judge denied a motion by Chase Manhattan Bank to immediately block the financially troubled real estate investor's interim refinancing agreement with creditors. The plan would guarantee Antonelli an annual allowance of $600,000.

San Jacinto Savings Association,

a Texas thrift that once was one of Michael Milken's best junk bond customers, was seized by regulators. With $3.25 billion in assets, the Houston-based institution was the largest troubled S&L in Texas operating outside government control.

American Continental,

formerly the heart of Charles Keating's empire, will be liquidated during the next year to partially repay the company's 25,000 creditors, under a three-year plan endorsed by a federal judge.

Fixed-rate mortgages

averaged 9.90 percent this week, down from 9.93 percent last week, the Federal Home Loan Mortgage Corp. said. It was the lowest since rates dipped to 9.84 percent during the week ended Aug. 3.

MNC Chairman Alfred Lerner's

request to increase his stake in the bank company up to 25 percent, was approved by the Federal Reserve. Lerner already owns the largest stake in MNC Financial, at 8 percent.

William B. Thalhimer Jr.

will retire this month as chairman of Thalhimer Bros. Inc., the Richmond department store chain started by his family more than a century ago.

British Aerospace

is closing two factories and cutting 5,000 jobs because of a worldwide reduction in orders for military aircraft.


expects to spend about $5.8 billion, most of it through short-term borrowing, to acquire MCA, a filing with the SEC disclosed.

Yosemite Restoration Trust,

a nonprofit environmental group, said it will offer to buy MCA's concession operations at Yosemite National Park -- which were not included in MCA's sale to Matsushita.

General Electric

won $124.3 million in Navy contracts for nuclear propulsion components and aircraft engines.

Westinghouse Electric

won $108.9 million in contracts for Navy nuclear propulsion components and Air Force satellite equipment.


said the Army selected its Sanders portable radar as the winner of a competition to build a new battlefield radar for Army light infantry forces.

Joseph Leonard,

once tapped as the successor to former Eastern Airlines Chairman Frank Borman, resigned as executive vice president and chief operating officer, the No. 2 job at the carrier.