International Business Machines received a $94-million contract from the Air Force for equipping the consolidated Space Operations Center . . . Cinema International Corp., co-owned by MCA and Paramount Pictures, said it has agreed in principle to form a joint venture with Hoyts Corp. to build about 100 motion picture screens in Australia over the next three to four years . . . Control Data Corp., which is seeking to raise $350 million from two public debt offerings, said it expects to record a loss for the second quarter . . . General Electric's financial services unit completed its acquisition of 80% of the Wall Street investment firm Kidder, Peabody & Co. . . . Convergent Technologies of San Jose and Display Data Corp. of Hunt Valley, Md., announced the signing of a letter of intent under which Convergent will acquire Display Data . . . Libyan oil production climbed sharply during May to an average of 1.4 million barrels per day from just under 1 million at the start of the year, diplomats said.