Joan B. Kroc, wife of the late...

Joan B. Kroc, wife of the late Ray Kroc, said she reduced her stake in McDonald’s Corp. to 4.96% of the common stock outstanding. In a filing with the SEC, Kroc said she sold 1.5 million shares between July 29 and Aug. 7 at prices ranging between $31.70 and $32.78 a share.. . . New Valley Corp., formerly Western Union, said it wants the government to assume control of its pension obligations. It $281 million in payments to the pension fund and does not expect to meet future obligations, so it is asking the Pension Benefit Guaranty Corp. to take on the burden.. . . The Federal Reserve reported that the average yield for one-year T-bills, the most popular index for making changes in adjustable-rate mortgages, fell to 5.88% last week from 6.18% the previous week.