G.M. SETTLES SUIT ON LENDING DISCRIMINATION
Date: 11 February 2004
By Bloomberg News
Bloomberg News
General Motors Corp agrees to pay as much as $11.2 million to settle class-action lawsuit that claimed its finance unit General Motors Acceptance Corp charged higher interest rates for blacks than for whites; will pay as much as $9.6 million in fees and expenses and spend $1.6 million to educate consumers about credit financing; finance unit will also cap how much GM dealers can markr up interest rates on vehicle loans and start marketing effort aimed at generating 1.25 million loan offers over five years to black and Hispanic customers (S)
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PRIVATE EQUITY FIRMS BUY BARTLETT NUCLEAR
Date: 11 February 2004
By Bloomberg News
Bloomberg News
Berkshire Partners and Summit Partners acquire Bartlett Nuclear Inc, provider of radiation-detection and cleanup workers to 80 nuclear power plants in US; financial terms undisclosed (S)
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MAGUIRE PROPERTIES TO BUY BIG OFFICE COMPLEX
Date: 11 February 2004
By Bloomberg News
Bloomberg News
Maguire Properties Inc, largest owner of office towers in downtown Los Angeles, agrees to buy 1.7-million-square-foot Park Place office complex in Orange County, Calif, from affiliate of Blackstone Real Estate Advisers (S)
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SAKS FIFTH AVENUE GETS A NEW PRESIDENT
Date: 11 February 2004
By Bloomberg News
Bloomberg News
Saks Inc names Canadian retail executive Andrew Jennings to newly created position of president and chief merchandising officer of Saks Fifth Avenue as company assembles new management team at its luxury chain; Fred Wilson, who took over chain in January, is named chairman (S)
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CHARLES SCHWAB TO OFFER NEW INVESTMENT SERVICES
Date: 11 February 2004
By Bloomberg News
Bloomberg News
Charles Schwab Corp is overhauling its services to individual investors to win more business from customers with $100,000 to $1 million in assets; will let customers who do not want advice choose from two levels of discount brokerage services with quarterly fees (S)
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MERCK TO BUY RIGHTS TO DANISH INSOMNIA DRUG
Date: 11 February 2004
By Bloomberg News
Bloomberg News
Merck & Co will pay H Lundbeck of Denmark as much as $270 million for US rights to its gaboxadol insomnia treatment (S)
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PEPSICO RAISES PROFIT FORECAST ON LOWER COSTS
Date: 10 February 2004
By Bloomberg News
Bloomberg News
PepsiCo Inc raises its profit forecast for 2004 and revises earnings higher for last two years because it overstated stock option expenses (S)
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ABBOTT LABS CLEARED TO MAKE DIAGNOSTIC PRODUCTS
Date: 10 February 2004
By Bloomberg News
Bloomberg News
Abbott Laboratories wins Food and Drug Administration approval of 11 products used to identify diseases like hepatitis and prostate cancer, overcoming delay caused by manufacturing violations; tests should reach markets within six months (S)
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UAL ASKS FOR ANOTHER 4 MONTHS TO FILE RECOVERY PLAN
Date: 11 February 2004
By Bloomberg News
Bloomberg News
UAL, parent of United Airlines, asks Federal Bankruptcy Judge Eugene R Wedoff to give it another four months to prepare recovery plan; Wedoff might rule on Feb 20 on extension request (S)
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A sponsor's product appears on a CNN segment, and some see a weaker news-advertising division.
Date: 11 February 2004
By Stuart Elliott
Stuart Elliott
CNN says appearance on camera of sponsor's product in Feb 3 segment of American Morning news show was accidental and unintentional; glimpse of package of Total cereal made by General Mills opens network to complaints about blurring lines between advertising and editorial content; photo (M)
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