A group of investors led by Summa...

A group of investors led by Summa Music Group President Rick Stevens has purchased the legendary Los Angeles recording studio, the Record Plant, from Chrysalis Recording Studios Inc. for an undisclosed price . . . Italy’s auto giant Fiat announced that it will lay off 41,000 workers, or one-third of its work force, for one week this month to cut back its production . . . The Federal Reserve said the average yield for one-year T-bills, the most popular index for making changes in adjustable rate mortgages, rose to 6.30% last week from 6.13% the week before.