Detroit newspaper workers strike
More than 2,500 employees at the Detroit Free Press and Detroit News walked off the job, igniting the city's first newspaper strike in 15 years.
Mayor Dennis Archer's effort to stop the walkout and keep the papers and their workers talking failed 90 minutes before the 8 p.m. strike deadline.
The two sides remain far apart on, among other things, the extent to which workers should share in the newspapers' growing profitability, and an overhaul of home-delivery systems that the unions believe will destroy jobs and hurt circulation.
Saturn gets first major redesign
Five years after the first Saturn rolled off the Spring Hill, Tenn., assembly line, General Motors Corp. is launching the first major redesign of its "import-fighter" sedans.
The 1996 Saturn SL models will be shipped to dealers starting next week. They will be followed in the fall by new station wagons. Saturn coupes will wait until next year for major changes.
Dow Chemical to buy back shares
Dow Chemical Co. said it will buy back 25 million shares of common stock, valued at almost $2 billion at its current stock price.
Dow Chemical, the second-largest chemical company in the United States, has already bought 9.7 million shares during the first six months of the year under a previously authorized program.
Food Lion sues ABC over tapes
Food Lion Inc. said it filed a $100 million lawsuit to gain control of videotapes made by Capital Cities/ABC Inc. at Food Lion stores in 1992.
ABC used the tapes in a November 1992 television episode of "Prime Time Live," alleging that Food Lion workers repackaged spoiled food and changed the freshness dates on packages.
Food Lion sued the network then, saying the story was fabricated.
The latest suit, claiming copyright infringement, was filed Tuesday in federal court in Winston-Salem, N.C., and seeks to remove ABC's control over the use of the 55 hours of videotape.
Aircraft firms get $4 billion contract
A team headed by McDonnell Douglas Corp. of St. Louis and Britain's GKN PLC's Westland Group has won a $4 billion contract from the British government for 67 army helicopters.
Lockheed Martin Corp., based in Orlando, Fla., will receive as much as $1 billion to provide fire control, missile, night vision and targeting systems for the attack helicopters.
McDonnell Douglas also received a $1 billion contract from the U.S. Air Force to examine ways to make the C-17 transport plane easier to produce and to continue flight testing of the aircraft.