AT&T;’s plan to buy MediaOne, a deal that would create the nation’s largest cable TV company and provider of high-speed cable Internet services, “warrants very careful scrutiny,” the FCC’s chief said Friday.

The $58 billion deal’s size, complexity and its potential reach into American homes must be studied, Federal Communications Commission Chairman Bill Kennard said in his first comment on the matter.

AT&T;, government officials estimated, would end up directly or indirectly owning cable TV systems that reach two-thirds of U.S. homes. But AT&T;, already the country’s biggest long-distance company, considers the two-thirds figure overstated.

Scott Cleland, director of Legg Mason’s Precursor Group, comparing Kennard’s statement with his positive comments on AT&T;’s purchase of TeleCommunications Inc, interpreted the chairman’s comment on the proposed merger as significant.

“He gave a positive signal when AT&T; and TCI was announced,” Cleland said. “This time the tone and words are quite different.”

Still, both Cleland and AT&T; believe the deal will be approved by the FCC.

Apple to push Mac system

Apple Computer is expected to tout future versions of its Macintosh operating system and QuickTime multimedia software when it hosts its big conference for software developers next week.

Investors are also counting on the much-anticipated keynote address by interim Chief Executive Steve Jobs on Monday to yield news. Many hope he will demonstrate the company’s yet-to-be introduced new PowerBook notebook computers.

Apple stock rose $1.38, or 3 percent, to $45.88 on Nasdaq.

Continental eyes Aserca

Continental Airlines is in talks to buy part of Venezuela’s Aserca Airlines, seeking to challenge American Airlines’ lead in the region.

An equity investment would probably follow the completion of a marketing agreement between the two carriers announced last year, Aserca President Julian Villalba said.

Continental officials would not comment.

Ecuador forecasts recession

Ecuador said the economy will plunge into recession this year as the near-collapse of the banking system throttles spending by companies and consumers.

The economy will shrink 4.5 percent this year, the central bank said, though growth may return in the second half. Growth was projected at about 2 percent before the government shut down banks for a week in March to prevent a run on deposits. Growth was 0.3 percent last year.

Repsol sells 800 stations

Spain-based Repsol said it would sell its Argentine assets — as many as 800 gas stations and an oil refinery — to avoid breaking unfair competition laws in its planned takeover of YPF, the country’s largest oil company.

Repsol’s commitment could quash one of the last potential hurdles to the $16 billion takeover.

Some politicians have complained because the combined company would dominate the market, controlling more than 70 percent of natural gas sales, 58 percent of refined gas sales.

Insurance dispute resolved

The Boca Raton-based National Council on Compensation Insurance, which provides workers’ compensation insurance statistics and information, has resolved a legal battle with Insurance Services Office.

The companies’ agreement provides for the licensing of NCCI’s intellectual property to ISO. NCCI had sued Insurance Data Resources, now an ISO subsidiary, in 1996, alleging copyright infringement.

Everything Wireless acquired

Largo-based cellular products retailer Bobby Allison Wireless has acquired the only retail outlet of Hollywood-based catalog retailer Everything Wireless at the Las Olas Riverfront complex.

The company has also opened at Boca Town Center Mall and plans to open six more in South Florida in 1999, for a total of 14.