DIGEST
Retail gasoline prices dropped 5.4 cents from their all-time highs to an average of $1.489 a gallon since last month, tracking a recent drop in crude oil prices, AAA reported. Last month, members of the Organization of Petroleum Exporting Countries decided to re-inject more oil into the world market, easing crude oil prices and, in turn, allowing lofty gasoline prices to settle back, AAA said in its monthly report on fuel prices.</br></br>Comsat of Bethesda has won a court battle to reinstate a five- year Navy contract for satellite telecommunications services that could be worth up to $111.9 million, the company said. Comsat won the contract last June, but Stratos Mobile Networks USA challenged the award. The U.S. Court of Federal Claims sided with Stratos and blocked Comsat from future work under the contract, but this week the U.S. Court of Appeals reversed and vacated that ruling. The contract involves providing access to the Inmarsat satellite network for high- speed data, voice and multimedia communications. The Navy can buy services as needed over the five-year period, up to a total potential value of $111.9 million.</br></br>The Federal Reserve, responding to complaints from the European Union, said foreign banks are treated fairly under new U.S. rules that permit banks to expand their services. Among other things, the Europeans have raised concerns about rules governing capital requirements for foreign banks that want to expand beyond their core banking business to sell securities, insurance and other services in the United States.</br></br>The Consumer Product Safety Commission will distribute posters to better alert the public to recalls of dangerous products. The posters will join the FBI's "Most Wanted" list in 33,000 post offices, where 7 million people go each day to mail letters and ship packages. The first posters should be up later this week.</br></br>Sears, Roebuck, the second-largest U.S. retailer, said its stores will mainly sell computers made by Compaq Computer and drop PCs made by Hewlett-Packard and eMachines. Sears will continue to carry Apple Computer's iMac and Sony's laptop computers. The Compaq computers, which will be available in June or July, will be built to order and specially designed for Sears customers.