Boeing said a $1.8 billion order from Delta Air Lines helped it set a company record of $47.7 billion worth of airplane orders this year. Boeing's 1990 tally tops its previous high mark of $46.6 billion set last year, even though the number of planes ordered fell to 543 from 883.
The EC voted to continue compensating the United States for reduced corn exports into Spain and Portugal, avoiding a costly transatlantic trade war. Washington had been gearing up to increase duties on several EC food and drink products if the EC had ended the program.
Yields on 30-year, fixed-rate mortgages rose to 9.64 percent from 0.56 percent while adjustable-rate notes declined to 7.86 percent from 7.91 percent, the Federal Home Loan Mortgage Corp. said.
NVR L.P. the troubled McLean home builder, said it had not yet completed negotiations on an extension to its $220 million line of credit, which was set to expire yesterday. However, a spokesman said the company expects an agreement with its eight lenders to be finalized shortly.
Chevron said it will charge $220 million against fourth-quarter earnings because of its previously announced plan to sell its fertilizer operations.
McDonnell Douglas Finance Corp. senior long-term debt totaling $2.4 billion was downgraded by Moody's Investors Service.
LTV received $210.6 million in funding from the Army Missile Command for the Army's multiple-launch rocket system.
K-III Holdings will acquire the "Weekly Reader," Funk & Wagnalls encyclopedias and other publishing operations from the privately held Field Corp. Terms of the deal were not disclosed, but one source said the price was about $200 million.
Horn & Hardart, one of America's pioneering restaurant companies and owner of New York City's last Automat, plans to divest itself of its last eatery.
T-bill rates fell. The Treasury auctioned three-month bills at an average discount rate of 6.52 percent, down from 6.78 percent on Monday, and six-month bills at 6.57 percent, down from 6.77 percent. The actual return to investors is 6.72 percent for three-month bills and 6.89 percent for six-month bills. The auction, which normally would have been held next Monday, was pushed up because of Christmas Eve.
The Boston Globe, citing declines in advertising, announced it will reduce its work force by 100 full-time positions, or 5 percent, through attrition over the next five years.
ITT received a $193.1 million Army contract for radios.