Reuters: Business

Enron: Creditors to Vote on Ch. 11 Plan

Fri, 28 May 2004 01:06:25 GMT

NEW YORK (Reuters) - Enron Corp. , whose record-shattering bankruptcy turned it into the ultimate symbol of corporate excess, said on Thursday it had enough votes from its creditors to confirm its reorganization plan.

GDP Bumped Up Amid Slim Profit Rise

Thu, 27 May 2004 21:02:13 GMT

WASHINGTON (Reuters) - The U.S. economy grew a bit more quickly in the first quarter than first estimated as businesses scrambled to restock, while a revival in corporate profits slowed, the government said on Thursday.

Citigroup to Pay in Lending Settlement

Thu, 27 May 2004 21:29:26 GMT

WASHINGTON (Reuters) - Citigroup Inc. has agreed to pay $70 million to settle allegations that it violated federal fair-lending laws and attempted to mislead bank examiners, the Federal Reserve said on Thursday.

Rite Aid Ex-CEO Gets Eight Years

Thu, 27 May 2004 22:18:27 GMT

NEW YORK (Reuters) - The former chief executive of Rite Aid Corp. was sentenced on Thursday to eight years in prison for his involvement in one of the biggest fraud cases in corporate America that left the No. 3 U.S. drugstore chain on the verge of bankruptcy.

Stocks End Up; S&P Posts 6th Day of Gains

Thu, 27 May 2004 20:32:45 GMT

NEW YORK (Reuters) - Investors bought stocks on Thursday, pushing the blue-chip Dow up almost 1 percent and lifting the Standard & Poor's 500 index <.SPX> to its sixth straight session of gains, as oil's drop below $40 a barrel eased worries about the impact of high energy costs on the economy.

Jury Clears Diabetes Drugmaker in Deaths

Fri, 28 May 2004 00:34:02 GMT

NEW YORK (Reuters) - A Los Angeles jury on Thursday found that a diabetes drug sold by Warner-Lambert, which has since been acquired by Pfizer Inc. , was not responsible for the deaths or illnesses of three plaintiffs.

Treasuries Up for 4th Day on Data

Thu, 27 May 2004 21:23:59 GMT

CHICAGO (Reuters) - U.S. Treasury prices rose for a fourth day on Thursday after a key inflation indicator hinted that the Federal Reserve may not need to raise interest rates as aggressively as earlier thought.

Dollar Slips Vs Yen Amid Nikkei Rise

Fri, 28 May 2004 01:26:35 GMT

TOKYO (Reuters) - The dollar fell to a three-week low against the yen on Friday, extending the previous day's tumble due to weaker economic data in the United States and a bump up in Japanese stock prices.

Intel's Quarter Seen on Track

Thu, 27 May 2004 19:57:10 GMT

SAN FRANCISCO (Reuters) - By any account, Intel Corp. has had a tumultuous second quarter, losing the head of its server chip business, facing defeat on a vote on a stock option expensing proposal, and scrapping the development of a pair of computer chips.

Lockheed, Gen'l Dynamics Get Design Deal

Thu, 27 May 2004 22:45:02 GMT

WASHINGTON (Reuters) - Teams led by General Dynamics Corp. and Lockheed Martin Corp. have won final design contracts that could lead to $12 billion or more in orders for the Littoral Combat Ship, a new series of quick, coastal fighters for the U.S.-declared war on terror, the Navy said Thursday.