Towson, Md.-based Black & Decker Corp. announced...

Towson, Md.-based Black & Decker Corp. announced the completion of the sale of its Bostik adhesives division to Orkem, S.A., for about $345 million in cash . . . Baker Hughes Inc. of Houston reported that the number of working U.S. oil and gas rigs continued to decline, dropping by 27 this week to 937. A year ago there were 797 rigs . . . Colgate-Palmolive Co. said it will acquire the bleach and fabric softener Canadian unit of Bristol-Myers Squibb Co. for $172 million . . . The Federal Reserve reported that the average yield for one-year T-bills, the most popular index for making changes in adjustable-rate mortgages, rose to 8.01% last week from 7.97% the week before . . . New construction stayed level near $261 billion in 1989 for the third year in a row, according to an F. W. Dodge survey.