McDonnell Douglas and General Dynamics were sued by the union representing 3,200 workers laid off after cancellation of the A-12 aircraft program. The lawsuit alleged that the two firms made the layoffs without giving workers 60 days notice, as required by federal law.
Boeing said its work force probably will be reduced by about 2,000 people or 2 percent this year, mainly because of dwindling government contracts for its defense and space group.
Mortgage rates were mixed this week. Fixed-rate mortgages averaged 9.75 percent, up from 9.63 percent last week, while one-year adjustable-rate mortgages averaged an initial rate of 7.74 percent, down from 7.76 percent last week, the Federal Home Loan Mortgage Corp. said.
Nissan said it will build a $500 million plant in Decherd, Tenn., to make engines for light trucks and cars built 60 miles north at its facility in Smyrna.
Cummins Engine said 115 workers will be laid off from its three southern Indiana operations because of a lack of orders.
NCR has argued in court documents that AT&T's hostile takeover offer for it violates federal laws pertaining to bank holding companies. It contended that by offering its Universal credit card, AT&T has been acting as a bank holding company and thus can't acquire a non-bank holding company.
GTE's merger with Contel has been approved by the Justice Department and 11 of 18 state regulatory agencies, the companies said. They expressed confidence that they will receive the approval of the remaining states and the FCC.
NCNB reported an 18.2 percent profit decline in 1990, to $365.7 million in 1990 from $447.1 a year earlier.
Burlington Northern said its profits fell 3 percent in 1990, to $236 million compared with $243 million a year ago.
Kellogg reported fourth-quarter earnings rose 47 percent, to $108.5 million from $57.9 million earned in the same period in 1989.
Alcoa posted a fourth-quarter loss of $140.4 million, compared with earnings of $164.4 million in the same quarter last year.
Savvy Woman, a New York City-based lifestyle magazine, will cease publication with the February issue, Family Media Inc. said. The firm said the magazine for businesswomen is folding because of ad revenue losses.