USG Corp., one of the nation's largest building products manufacturers, is postponing debt payments and selling DAP Inc., a major subsidiary, because of the declining construction industry. The company said its major bank lenders have agreed to cooperate in the refinancing plan.
Bally Manufacturing, which already had defaulted on its casino debt, said it will not make more than $37 million in payments due on two of its bonds. The moves reflect the tightened squeeze on the gambling business.
Peru's inflation reached 7,650 percent in the year 1990, the highest in its history, the government announced.
BellSouth agreed to acquire Graphic Scanning Corp., a New Jersey-based cellular telephone and paging service provider, for $180 million. Graphic operates in the United States and Britain.
Sallie Mae agreed to buy all of Chase Manhattan Bank's $1.2 billion in insured student loans over the next seven months and to purchase all additional such loans over the next five years.
Data General dropped a product-development agreement with Japan's Nippon Telegraph and Telephone. The agreement to build high-speed hubs for private data communications networks had been announced in 1987. But the project was scrapped after research showed there was not a strong market in Japan for such systems.
NBC News launches its 24-hour News Channel today, feeding video of late-breaking news, sports and features from a new base in Charlotte, N.C., to network affiliates for local use. Until now, the network had been feeding its affiliates several times a day from New York City.
Raytheon received a $320.6 million Army contract for Patriot missiles.
T-bill yields were mixed. The Treasury auctioned 13-week bills at an average discount of 6.52 percent, the same rate as at last week's auction, and 26-week bills at an average of 6.48 percent, down from 6.57 percent. The actual return to investors would be 6.72 percent on the 13-week bills and 6.79 percent on the 26-week bills.