The Transportation Department rejected much of British Airways's plan to cut New York-London fares between April 6 and Oct. 31, approving them only through April 30. Analysts said the move was designed to pressure British authorities in stalled talks over U.S. landing rights in London.
Werner Erhard, the founder of est, is selling the assets of his company to a group of employees, spokesman Bill Barnes said. The holdings include real estate in California and New York, computers, furniture and an 18-year licensing agreement. Terms were not disclosed.
Weirton Steel suspended payment of dividends because of lagging sales and costs associated with modernization.
Remington Products's Canadian unit pleaded guilty to violating Canada's Competition Act by failing to substantiate late 1980s' television and print ads in which Chairman Victor Kiam claimed his company's razor shaved "as close as a blade and closer than any other electric shaver."
Campeau agreed to settle a lawsuit alleging American shareholders were misled by the company, causing its stock to trade at inflated prices. Stockholders, who sued for $13 million, are to receive $650,000 from Campeau, whose U.S. retailing subsidiaries are in bankruptcy reorganization.
Sabena, Belgium's national airline, will cut routes, eliminate 2,200 jobs from its 11,000-person work force and revamp its organization to make the airline profitable for the first time by 1992.
Investor Harold Simmons vowed to try to unseat Lockheed's board in another proxy fight unless the defense contractor lets shareholders decide whether to give Simmons control of three board seats.