October 13, 1989

LEAD: The National Broadcasting Company said yesterday that it had expressed an interest in becoming an equity investor in an Australian entertainment concern's proposed buyout of the MGM/UA Communications Company.

LEAD: In a move watched closely by regulators in other states, the California Public Utilities Commission today approved a different way of setting rates for the state's two largest local telephone companies. The change is intended to provide freer competition in the marketplace.

LEAD: In his final remarks to the jury in the bribery trial of Representative Robert Garcia, the chief defense lawyer conceded yesterday that Mr. Garcia ''made a mistake in judgment'' by borrowing $20,000 from a Wedtech executive and then trying to conceal the loan.

LEAD: The White House plans to issue specific guidelines to American military, intelligence and diplomatic officials in Panama so they can provide clearer and more rapid communication with potential coup plotters, a senior official said today.

LEAD: Rudolph W. Giuliani smiled stiffly at a subway stop in the Park Slope section of Brooklyn the other day, his arms folded across his waist, waiting for someone to shake his hand. Deep in the liberal Democratic turf of David N. Dinkins, the Republican mayoral nominee was standing more or less alone.