Cisco uses immense cash hoard to buy Norwegian video-conferencing firm Tandberg for $3 billionNEW YORK — Cisco Systems Inc. tapped its immense cash hoard and announced a deal Thursday to buy Norway’s Tandberg ASA for $3 billion in a bid to dominate the global market for videoconferencing equipment. Growing number of states push electronics manufacturers to take responsibility for e-wasteINDIANAPOLIS — Frustrated by inaction in Congress, a growing number of states are trying to reduce the rising tide of junked TVs, computers and other electronics that have become one of the nation’s fastest-growing waste streams. Target will pay $600,000 civil penalty for importing and selling toys with lead paintWASHINGTON — Target Corp. has agreed to pay a $600,000 civil penalty for importing and selling a variety of toys with high levels of lead paint on the surface. MGM Mirage ends debt exchange offer because not enough holders accept the dealLAS VEGAS — Casino operator MGM Mirage said Thursday that it has ended a debt exchange offer because not enough debt holders accepted the deal. Constellation Brands moves to 2nd-quarter profit, partly on absence of impairment chargeMILWAUKEE — Wine and spirits maker Constellation Brands Inc. said Thursday that it moved to a fiscal second-quarter profit because of lower restructuring costs and the absence of last year’s impairment charge, beating analyst estimates. Sun sets on Saturn: GM kills once vaunted star brand after purchase talks failDETROIT — For those who expected General Motors’ once-funky Saturn brand to live on with a new owner, there has been a sad twist. Saturn, once billed as a different kind of car company, appears as dead as Pontiac and Oldsmobile. Cisco agrees to buy Norwegian video-conferencing firm Tandberg for $3 billionNEW YORK — Cisco Systems Inc. tapped its immense cash hoard and announced a deal Thursday to buy Norway’s Tandberg ASA for $3 billion in a bid to dominate the global market for videoconferencing equipment. Honda president bemoans weak dollar ‘danger zone’, revving up hybrids for growthTOKYO — Honda’s chief executive said Thursday the dollar’s recent plunge was sending the automaker into a “danger zone,” threatening efforts to keep Japan’s manufacturing strong. Class ring makers join boycott of gold from proposed Alaska mine, citing threat to salmonANCHORAGE, Alaska — The growing list of jewelers vowing to boycott gold from a proposed Alaska mine now includes major manufacturers of class rings. LA-based Nara Bank strikes deal with prosecutors in discrimination caseLOS ANGELES — Federal prosecutors have announced a settlement with a Los Angeles-based bank that was sued along with two auto dealerships for allegedly charging non-Asian customers higher interest rates on car loans. Timeline: A brief look back at GM’s Saturn brandA timeline of events in the life of General Motors Co.’s Saturn brand. Maryland firm including 21-year-old wants to become player in Atlantic City casino industryATLANTIC CITY, N.J. — A Maryland private equity fund whose chief investment officer is barely old enough to roll the dice or have a legal drink wants to become a player in the Atlantic City casino industry. CIT Group, Moody’s, Darden Restaurants, Nike, Iconix are among big market movers WednesdayNEW YORK — The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange: GM to shut down Saturn after Penske terminates talks with GM on uncertain future assemblyDETROIT — For those who expected General Motors’ once-funky Saturn brand to live on with a new owner, there has been a sad twist. Saturn, once billed as a different kind of car company, appears as dead as Pontiac and Oldsmobile. Coke plans to add calorie information more prominently to almost all products globallyCHICAGO — Coca-Cola Co. will change the packaging on almost all its products to more prominently display certain nutritional facts amid increasing pressure on lawmakers to consider taxes on sugary sodas, which some health experts blame for rising obesity rates Frozen foods maker Overhill Farms signs distribution agreement with J.R. SimplotLOS ANGELES — Private-label frozen foods maker Overhill Farms Inc. on Wednesday said it inked a sales and distribution agreement with food producer J.R. Simplot Co. designating Simplot as the sole distributor of Overhill Farms products to some of the nation’s largest foodservice accounts. Oil prices rise over $70 after government reports surprise drop in US gasoline supplyNEW YORK — Oil prices climbed more than 5 percent, surpassing $70 a barrel Wednesday after a government report said the nation’s gasoline supply dropped unexpectedly and demand increased from last year. Cleantech Group, Deloitte say ‘cleantech’ investment totaled $1.6B in 3rd quarterDENVER — Investors cautiously began putting money into solar, electric cars and other clean technology companies in the third quarter as government funding helped bolster confidence, a research group said Wednesday. Oil prices rise after government reports unexpected drop in US gasoline supplyNEW YORK — Oil prices climbed more than 5 percent, surpassing $70 a barrel Wednesday after a government report said the nation’s gasoline supply dropped unexpectedly and demand increased from last year. Darden Restaurants falls as co. warns 2010 profit will likely be within lower half of rangeNEW YORK — Shares of Darden Restaurants Inc. slid Wednesday after the owner of the Olive Garden and Red Lobster chains cautioned its fiscal 2010 earnings will likely be within the lower half of its predicted range. Congressional deal offers cash for dairy farmers, surplus purchases of cheese, other productsWASHINGTON — Lawmakers from dairy-producing states announced agreement Wednesday on $350 million in aid for struggling milk farmers. UK takeover panel gives Kraft Nov 9 deadline to make bid for candy maker CadburyLONDON — Britain’s Panel on Takeovers and Mergers says Kraft Foods Inc. has until November 9 to either make a firm bid for candy maker Cadbury PLC or walk away. Wal-Mart Stores will offer 100 toys for $10 during holiday seasonBENTONVILLE, Ark. — Wal-Mart Stores Inc., the world’s largest retailer, said Wednesday it will offer more than 100 toys at $10 during the key holiday season. Wal-Mart chairman warns of lethargic economic recovery, eyes growth in China and IndiaKUALA LUMPUR, Malaysia — The chairman of Wal-Mart Stores Inc. warned Wednesday the global economic recovery will likely be lethargic, even as the retailing behemoth sees great growth potential in China and India. Starbucks releases instant coffee nationwide, stocks store helves and other retailers with ViaCHICAGO — The company that added “venti” to American vocabularies will launch a push throughout North America Tuesday to convince even connoisseurs to sample what many see as a down-market drink — instant coffee. Hotel workers union approves new contract agreement with 4 Atlantic City casinosATLANTIC CITY, N.J. — The union representing 15,000 Atlantic City casino hotel workers approved a new contract Monday with four casinos, providing raises for most workers and guaranteeing benefits won’t be reduced. Los Angeles harbor plan seeks to draw visitors to industrial waterfrontLOS ANGELES — The hulking container ships that ply the Port of Los Angeles already provide Southern California with a major source of revenue. Soon they could also provide the scenery for what port officials hope will be the region’s newest tourist destination. Performance parts maker Holley seeks bankruptcy protectionWILMINGTON, Del. — Holley Performance, a supplier of high-performance products to professional racers and street car enthusiasts, has filed again for Chapter 11 bankruptcy protection. Nike’s 1st-quarter profit flat but beat, shares risePORTLAND, Ore. — Nike Inc. on Tuesday reported its profit was practically unchanged in its fiscal first quarter while revenue fell sharply as consumers around the globe limited their spending. China Commerce Ministry approves GM plan to buy parts of Delphi, but sets conditionsSHANGHAI — China’s Commerce Ministry has given a conditional green light for General Motors Co.’s plan to acquire portions of auto parts maker Delphi Corp. |
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