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Date: Wed, 28 Oct 92 04:28:31 EST
Message-ID: <1.1992Oct28.042831@AmeriCast.com>



 Wages, salaries and benefits of U.S. workers posted the smallest
gain in five years in the 12 months ended Sept. 30, showing the
weak economy was keeping a brake on inflation. The Labor Depart-
ment said its employment cost index, one of the best gauges of
wage inflation pressures, slowed to a 3.5 percent advance in the
year, down from 4.3 percent a year earlier.<General Dynamics has
been trying to sell its jet fighter division that makes the F-16,
union officials said. Industry analysts said the unit could com-
mand a $1 billion price tag, or more, if a bidding war breaks
out. Published reports said the nation's No. 1 defense company
was considering selling the division to Boeing, Lockheed or a
joint venture of both.<Canadian banks cut their prime lending
rates by half a percentage point to 7.75 percent and the nation's
currency perked up, removing concerns about financial chaos after
rejection of a national referendum on unity.<Japanese electronics
companies posted sharply lower half-year earnings as the industry
struggled to cope with a prolonged slump. Fujitsu, the world's
second-largest computer maker, reported its first six-month loss
ever - $161 million. Hitachi's profit fell 46 percent,
Matsushita's 54 percent, NEC's 72 percent and Toshiba's 39.5 per-
cent.<02:01 10-28C9999-----

Copyright 1992, The Washington Post.  This story is from the
Washington Post's Capitol Edition On-Line and is not to be ar-
chived or redistributed.

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