T-bill rates rose. The Treasury auctioned three-month bills at an average discount rate of 5.94 percent, up from 5.86 percent last week, and six-month bills at an average of 5.91 percent, up from 5.85 percent. The actual return to investors was 6.11 percent for three-month bills and 6.18 percent for six-month bills.
A gallon of gasoline now costs about the same as before Iraq invaded Kuwait, not counting about 5.6 cents in taxes added to the cost of a gallon of gas since the Aug. 2 invasion. The average price of a gallon of self-serve unleaded regular was $1.135, according to a weekly survey by the American Automobile Association.
Du Pont is offering a stock option plan to employees. Workers will be able to purchase up to 100 shares of Du Pont stock at a fixed price of $38.25 per share.
Bridgestone-Firestone will lay off 500 salaried workers, half of them at the company's headquarters in Akron, Ohio, because of slumping tire sales. It also said it plans to leave 300 vacant jobs unfilled.
American Video Entertainment, a San Jose, Calif.-based maker of video-game cartridges, accused Nintendo of Japan of making secret changes to its game machines that render competitors' cartridges unplayable.
Lockheed fired its first shot in a proxy war with its biggest shareholder, Harold Simmons, daring him to scuttle newspaper ads as he tries to unseat Lockheed's board.
British Airways asked Bonn for permission to set up a new German airline. The application was for a new as-yet unnamed airline that would be 51 percent owned by German banks.
Harrods plans to cut 600 jobs, 14 percent of its work force, due to sales hit by recession and a sharp drop in tourism.
Fiat's truck division, Iveco, will lay off nearly 3,000 workers for three years and it will seek ways to reduce its work force permanently.
A federal judge ruled that the government cannot take over Carteret Savings Bank in New Jersey because regulators are bound by relatively weak standards put in place before the nation's thrift crisis.
Honeywell said its profit fell 36 percent in 1990 and 72 percent in the fourth quarter.
Turner Broadcasting, parent of CNN and other cable channels, reported its fourth-quarter earnings increased 21 percent.
Limited said its 1990 earnings were up 14.6 percent, while its fourth-quarter profits rose 12.5 percent.
Hewlett-Packard said its profits rose 18 percent in the first fiscal quarter of 1991.
Deere reported it lost $43.1 million in its fiscal first quarter, compared with net income of $78.5 million for the same period a year ago.
Fannie Mae elected Lynda Horvath senior vice president for mortgage operations.
Oliver Alvin Trigg Jr., former chairman and chief executive of Family Savings and Loan Association of California, was convicted of using $1.2 million of the thrift's own money to help buy a controlling interest in it.