J&J spent nearly $1.7M lobbying government in 3Q
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Johnson & Johnson, which makes health products from Band-Aids to biologic drugs, spent nearly $1.7 million in the third quarter lobbying on the health care overhaul and multiple bills that could boost its sales or...
How the major stock indexes fared on Wednesday
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Stocks ended an erratic session with a slender gain Wednesday as rising commodities prices offset disappointment over an unexpected drop in home sales. Gains in commodities drove the shares of energy and...
Business Highlights
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Americans increase spending, but not on new homes WASHINGTON (AP) _ Americans are starting to spend a bit more money, but not enough to power a strong economic recovery. Consumer spending posted its second straight...
Dollar drops as home sales, spending data weak
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The dollar was mixed against major currencies Wednesday as new data on home sales and consumer spending reinforced the view that the U.S. economy's recovery will be bumpy and slow. In late New York trading, the...
Abortion looms as possible block to health bill
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The way abortions are covered under health care reform is a major obstacle to finalizing the legislation, even though the House and Senate both agree that no federal money should be used. The stumbling block is whether...
Number of active rigs down 15
5:49
The number of rigs actively exploring for oil and natural gas in the U.S. declined 15 this week to 1,178. Houston-based Baker Hughes Inc. said Wednesday that 751 rigs were exploring for natural gas and 416 for oil....
Citi repays $20 billion in TARP money
5:39
Citigroup Inc. said Wednesday it has repaid the $20 billion in bailout money it received from the government. Citi said it funded the previously announced repayment with a recent stock offering that raised $20.5...
Treasurys narrowly mixed; yield-curve flattens
5:33
Interest rates were little changed Wednesday as a surprisingly weak housing report halted a series of sharp drops in bond prices. The Commerce Department report that new home sales plummeted 11 percent last month...
Tenet Healthcare, Cintas are big movers
5:19
The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE: Tenet Healthcare Corp., up 20 cents at $5.52 An analyst...
Monarch Financial repays TARP money to US
5:16
Regional bank Monarch Financial Holdings Inc. said Wednesday that it has repaid the $14.7 million it owed the U.S. government under the Troubled Asset Relief Program. Monarch said in a release that it remains well...
Americans increase spending, but not on new homes
5:15
Americans are starting to spend a bit more money, but not enough to power a strong economic recovery. Consumer spending posted its second straight monthly increase in November, rising 0.5 percent, the government said...
Luxury car buyers spending less for the holidays
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This holiday season, the luxury car buyer is offering a simple phrase: I'm not spending too much. Wealthier shoppers are trickling back into showrooms after staying away much of the year. But there's a catch. Many are...
Never too late: Still time for 2009 tax planning
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Although there are just a few days left in 2009, small business owners still have time to squeeze in a few tax breaks. Making a last-minute equipment purchase or paying your estimated state taxes early can shave some...
Holiday Shopping Notebook: At the VERY last minute
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For serious holiday shopping procrastinators, drugstores and convenience stores are offering last-minute deals. Even better for the desperate, many of them will still be open at, say, 3 a.m. Dec. 25. The last-minute...
Boston Scientific to pay $22M in payment inquiry
4:53
U.S. attorneys in Boston said Wednesday heart device maker Boston Scientific will pay $22 million to resolve allegations its Guidant division paid kickbacks to doctors to get them to use its heart devices. The U.S....
S&P may cut Crown Castle unsecured debt rating
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Standard & Poor's Ratings Services said Wednesday it expects to lower its rating on Crown Castle International Corp.'s unsecured debt in January, when the cell phone tower operator's available revolving credit will...
Dodd, Shelby voice optimism on banking regulations
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The top Senate Democrat and Republican negotiating new Wall Street regulation said Wednesday they expect to resolve their differences before the end of January, an optimistic outlook for a bill that had seemed mired in...
United, Continental, ANA seek antitrust immunity
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United Airlines, Continental, and All Nippon Airways applied for antitrust approval on Wednesday so they can work together more closely on flights across the Pacific. The three carriers already sell tickets on each...
Pharmaceutical group spent $6.8M lobbying in 3Q
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The pharmaceutical industry's main trade group spent $6.8 million in the third quarter lobbying Congress, the White House and numerous government agencies on health care provisions and other issues, according to a...
Smart Spending: 7 ways to use gift cards wisely
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Expecting a stash of gift cards for the holidays? Better use them wisely. That's become a little easier, because many retailers have eliminated expiration dates and fees that sap the cards' value over time. The...
MGIC shares drop after lawsuit disclosure
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Shares of MGIC Investment Corp. tumbled Wednesday after the mortgage insurer disclosed it was being sued by Bank of America's mortgage unit in a dispute over claims. The suit was filed Dec. 17, according to MGIC's...
Sharp drop in dollar lifts commodities
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A sharp drop in the dollar pushed prices for gold, oil and other commodities higher Wednesday. A new report showing a sharp falloff in new home sales last month sapped investors' optimism about the economy, driving the...
Ford expects Volvo deal with Geely in Q1
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Ford Motor Co. said it is moving closer to selling its Swedish Volvo brand, even though the U.S. automaker is in far better financial shape than it was when it put the brand up for sale last year. The Dearborn, Mich.,...
Disney nominates Facebook COO Sandberg to board
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Walt Disney Co. said Wednesday it has nominated Sheryl Sandberg, chief operating officer for the popular social networking site Facebook, to serve on its board of directors. Sandberg, 40, has served as Facebook's COO...
Gasoline shortages ease from Va. to Conn.
3:56
Scattered gasoline shortages caused by a record-breaking winter storm eased Wednesday as fuel trucks sidelined by up to 2 1/2 feet of snow resupplied gas stations from Virginia to Connecticut, industry workers said. ...
SEC sues former head of western Pa. health firm
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The Securities and Exchange Commission on Wednesday sued the former head of a defunct Pittsburgh-area medical staffing company, claiming he led a stock fraud and misappropriated $6.4 million by lying about the company's...
Agriculture futures trade mixed on the CBOT
3:56
Agriculture futures were mixed Wednesday on the Chicago Board of Trade. Wheat for March delivery gained 6 cents to $5.29 a bushel, while March corn rose 6 cents to $4.0475 a bushel and oats for March delivery slipped...
GOP Sens. Graham, DeMint concede health care loss
3:43
South Carolina's U.S. senators know they've lost this round on the health care fight but say final approval of the massive bill is no sure thing. U.S. Sens. Lindsey Graham and Jim DeMint prepared for Thursday's final...
No sign of 'major' commercial biofuels investment
3:39
Gov. Phil Bredesen's timetable is about to run out for what he has billed as a "major" commercial investment related to Tennessee's biofuels program. Bredesen had touted the potential investment after a...
Nebraska's population growth matches national rate
3:31
Nebraska's annual population growth has nearly matched the U.S. growth rate for the first time in 50 years, largely due to a surge in births that continues despite the economic downturn, according to U.S. Census Bureau...
US attorney to become partner in Utah law firm
3:28
For Utah's outgoing U.S. attorney, the next chapter of his legal career will include preventing corporations from running afoul of the law. Brett Tolman's last day as Utah's top federal prosecutor is Dec. 31. In...
Ohio gets stimulus money for broadband mapping
3:25
Ohio is getting $1.8 million in federal stimulus money to help create a map of where broadband Internet access is available and how fast it is. The money is part of a larger effort to create a national map that will...
Overstock.com signs $20 million financing deal
3:17
Online retailer Overstock.com Inc. said Wednesday it signed a financing agreement with U.S. Bank N.A. to provide financing of up to $20 million. The revolving line of credit financing facility terminates on Oct. 2,...
W.Va. Sen. Rockefeller: Public option is out
3:17
U.S. Sen. Jay Rockefeller, D-W.Va., says the House of Representatives will have to give up its idea of a public insurance plan if major health care legislation is to succeed. Rockefeller said Wednesday the political...
Ames, Iowa State Univ. to buy wind-generated power
3:14
The city of Ames and Iowa State University will soon buy wind-generated electricity from a farm near Zearing. Officials say the plan is to buy enough wind power to supply 30 megawatts of output for Ames and six...
Correction: Obesity drugs story
3:14
In a Dec. 22 story about obesity drugs, The Associated Press erroneously reported the date Vivus Inc. plans to file for approval of its drug candidate Qnexa. Vivus says it will file for approval by the end of 2009, not...
Energy futures spike; pump prices still flat
3:05
Holiday travelers can expect gasoline prices to remain steady into the New Year even though energy futures spiked Wednesday on a big draw down of crude and gasoline supplies. Energy experts were expecting the amount of...
Fitch affirms Qwest rating; outlook stable
3:00
Fitch Ratings on Wednesday affirmed its issuer default rating for Quest Communications International Inc. and said its rating outlook for the company remains stable. The issuer default rating of "BB" applies to $14.1...
Madoff moved from federal prison to medical center
2:59
Bernard Madoff has been moved from a North Carolina federal prison to a prison medical facility. Federal Bureau of Prisons spokeswoman Traci Billingsley said Wednesday that Madoff was moved Friday. She says the bureau...
SunEdison, Xcel announce solar project
2:58
North America's largest solar energy services provider and a Western utility are planning to install five photovoltaic solar facilities in southeastern New Mexico. SunEdison and Xcel Energy's Southwestern Public...
Geithner: Job growth should resume by springtime
2:57
Treasury Secretary Timothy Geithner says he believes it's reasonable to expect "positive job growth" by spring and that people should have confidence about an improving economic climate. In an interview broadcast on...
Telefonica to buy Jajah for $207 million
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Spain's Telefonica SA said Wednesday it is paying 145 million euros ($207 million) to buy Jajah, a communications startup that lets customers bypass long-distance fees by connecting their calls over the Internet. ...
November new home sales sink 11 percent
2:43
Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky and heavily dependent on the generosity of Uncle Sam. The 11 percent slump from...
Scripps Networks Interactive sells uSwitch
2:29
Scripps Networks Interactive Inc., the owner of HGTV and the Food Network, said Wednesday it has sold uSwitch, a U.K.-based Web site that helps consumers compare energy utilities, to Forward Internet Group for an...
SRI/Surgical Express promotes Mark Faris to CFO
2:22
SRI/Surgical Express Inc., which supplies reusable and disposable surgical products and services to the health care industry, said Wednesday it promoted Mark R. Faris to vice president and chief financial officer. ...
Ultra Petroleum announces $500M note offering
2:21
Independent natural gas Ultra Petroleum Corp. said Wednesday it entered into an agreement with 13 institutional investors for the private placement of $500 million in senior unsecured notes. The offering will be made...
Bristol-Myers cuts outlook after Mead split
2:12
Drug developer Bristol-Myers Squibb Co. cut its 2009 profit outlook Wednesday after completing a split off of its Mead Johnson Nutrition Co. holdings. The company now expects adjusted profit from continuing operations...
Wis. governor says 2009 was hardest year in office
2:12
Gov. Jim Doyle said Wednesday the economic recession made 2009 his most challenging year in office, but Wisconsin responded well by helping the unemployed and positioning itself for recovery. In a year-end interview at...
Wells Fargo repays $25 billion in bailout funds
2:12
Wells Fargo & Co. said Wednesday that it repaid the $25 billion in bailout funds it received from the Treasury Department under the Troubled Asset Relief Program. The company said in a statement that it redeemed...
Orbital gets communications satellite deal
2:10
Orbital Sciences Corp., which makes small rockets, satellites and other space equipment, said Wednesday it received a contract for a communications satellite with OverHorizon, a satellite telephone and broadband...