Business failures down nearly 10%A reviving U.S. economy...

BUSINESS DIGEST

August 04, 1993

Business failures down nearly 10%

A reviving U.S. economy is the reason why the number of U.S. business failures fell nearly 10 percent in the first half of this year, according to Dun & Bradstreet Corp. This comes after a record number of businesses failed in the United States last year. However, the rate of increase in failures peaked during 1992, and the fourth quarter saw a decline.

For the first six months of 1993, business failures were down in all major industries and nearly every U.S. Census region because of the recovery, the business information company reported.

Pena vows quick help for airlines

Transportation Secretary Federico F. Pena said he intends to speedily implement many of the recommendations of a presidential commission that studied the airline industry's problems.

The 15-member commission adopted a report on Monday that it will send to the president later this month. "We don't want this report to sit on a shelf and gather dust," Mr. Pena said yesterday.

Fortune calls AT&T most profitable

A huge earnings increase put American Telephone & Telegraph Co. on top of the world last year, ranking the long-distance company as the most profitable of the world's 500 largest service companies, Fortune magazine said.

But the magazine reported in its Aug. 23 issue that the 500 jTC service companies overall saw profits decline in 1992.

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