SEC Chairman Richard Breeden said it is possible that the securities industry as a whole lost money in 1990, adding that the results for the year are likely to be the worst for the industry in many years.
The Office of Thrift Supervision said in a legal brief that Neil Bush should demonstrate that he understands conflicts of interest before being allowed to accept another position with a savings institution.
GM's Saturn subsidiary will absorb up to $5.8 million in fees charged to dealers because of a slow production start at its Tennessee assembly plant.
The Group of Seven leading industrialized nations will meet Jan. 20 and 21 in New York, the Treasury confirmed. Sources said the central bankers will discuss exchange and interest rates, the situation in the Soviet Union and economic conditions of industrialized countries.
Japan will limit its car exports to the United States to 2.3 million again in the fiscal year beginning April 1, Kyodo News Service reported. It will be the 10th straight year of voluntary curbs.
McGraw-Hill canceled publication of Assets, a planned bimonthly spinoff of its flagship magazine Business Week, because of the economic recession. Forbes and Inc. also canceled plans for similar magazines.