Moody's, in another sign of growing risks for the holders of life insurance policies in the current economic downturn, downgraded the ratings on five major insurance companies and on the debt of a sixth.

NCR's directors unanimously rejected AT&T's $90-a-share cash tender offer for the computer maker. NCR called the hostile takeover bid "grossly inadequate and unfair." NCR also filed amendments to a lawsuit it had filed earlier that charge AT&T with making false statements in its filings with the SEC.

Ashton-Tate's copyrights on its mainstay dBASE product line were invalidated by a federal judge, who said the software company had deceived copyright officials. The judge ruled the company actually derived dBASE from public-domain software written by federal government scientists in the late 1970s.

Donald Trump scheduled a meeting Monday with holders of his Trump Castle hotel-casino junk bonds to seek a solution to his latest financial difficulties. Wall Street analysts expect Trump to default on an $18 million interest payment due today on the Castle bonds.

Black & Decker's senior secured debt rating was downgraded by Standard & Poor's due to its inability to sell assets as planned and reduce debt from its purchase of Emhart Corp.

Mortgage rates fell this week. Fixed-rate 30-year mortgages averaged 9.56 percent, down from 9.81 last week, while one-year adjustable-rate mortgages averaged an initial rate of 7.91 percent, down from 8.04 percent last week, the Federal Home Loan Mortgage Corp. said.

Motorola said it will produce its next generation of computer memory chips in Japan under a joint venture with Japanese electronics manufacturer Toshiba.

G.E. Information Services of Rockville is allowing family and friends of American military personnel in the Persian Gulf to send letters to them free of charge over its electronic mail network.

Legent of Vienna has bought the assets of Flexlink International, a privately held company that makes software allowing incompatible computers to communicate. Terms were not disclosed.

Circuit City Stores said third-quarter net income fell 70 percent compared with a year earlier.

Dart Group said profit increased 39 percent in the third quarter.

Continental Airlines outlined an expanded frequent-flyer program in response to similar promotions announced by other airlines. Continental's program will allow its customers to earn free tickets in both first class and coach.