Analyst boosts HP price target, sees little effect from Xerox-ACS dealNEW YORK — Kaufman Bros. analyst Shaw Wu doesn’t think the combination of Xerox Corp. and Affiliated Computer Services Inc. will be much of a competitive threat against Hewlett-Packard Co. Xerox buying Affiliated Computer Services as printer company beefs up services businessNEW YORK — Xerox Corp. has agreed to buy Affiliated Computer Services Inc. for about $6.4 billion in cash and stock in a deal that will boost the size of its services business and take it another step away from its roots as a printer company. GE’s Immelt warns less lending, high unemployment to drag on US economic recoverySINGAPORE — General Electric Co. chief executive Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on U.S. economic growth, likely resulting in the weakest recovery in decades. Iran’s Revolutionary Guard buys 50 percent stake in Iran telecomTEHRAN — A consortium connected to Iran’s powerful Revolutionary Guard bought a majority share in the country’s telecommunications company Sunday, Iranian state media reported, bringing the strategic sector under the elite military force’s control. In arson-plagued Pa. town, block devastated by fires shows signs of both renewal, struggleCOATESVILLE, Pa. — The day after her row house and 14 others were severely damaged by arson, Geneva Thomas was angry and homeless, but she knew even then that she would rebuild and return to the two-story brick home she bought right out of high school. Maxygen CEO and CFO to leave Wednesday as part of expanded partnership with Astellas PharmaNEW YORK — Maxygen Inc. said Monday its CEO and chief financial officer will leave the company on Wednesday, in keeping with a collaboration with Astellas Pharma Inc. Liberals fail to win government-run insurance option in Senate health care billWASHINGTON — In a long-anticipated showdown, liberal Democrats twice failed on Tuesday to inject a government-run insurance option into sweeping health care legislation taking shape in the Senate, despite bipartisan agreement that private insurers must change their ways. Xerox to purchase Affiliated Computer Services in cash-and-stock deal valued at $5.75 billionNEW YORK — Xerox Corp. has agreed to buy Affiliated Computer Services Inc. for about $5.75 billion in cash and stock, the companies announced Monday. Liberal Democrats twice fail to inject gov’t-run insurance option in Senate health care billWASHINGTON — In a long-anticipated showdown, liberal Democrats twice failed on Tuesday to inject a government-run insurance option into sweeping health care legislation taking shape in the Senate, despite bipartisan agreement that private insurers must change their ways. AP Source: Chrysler to improve midsize cars, keep Mich. factory open until new model developedDETROIT — Chrysler will try to improve its slow-selling midsize cars and keep making them indefinitely at a Sterling Heights, Mich., assembly plant until it can design a replacement based on Fiat technology, a person briefed on the company’s business plan said Monday. Xerox buying Affiliated Computer Services, as printer company beefs up document mangement workNEW YORK — Xerox Corp. has agreed to buy Affiliated Computer Services Inc. for about $5.75 billion in cash and stock in a deal that will boost the size of its document management business and take it another step away from its roots as a printer company. Regulators close Georgian Bank in Atlanta; 95th US bank closed this yearWASHINGTON — Regulators on Friday shut down Atlanta-based Georgian Bank, the 95th U.S. bank to fail this year as loan defaults rise in the worst financial climate in decades. Simmons plans to file for Ch. 11 bankruptcy protection as part of restructuring planATLANTA — Simmons Co., the maker of Beautyrest mattresses, said Friday that it plans to file for Chapter 11 bankruptcy protection, a move that will put new owners in charge of the bedding unit and significantly lower the company’s debt. Unilever to buy Sara Lee’s personal care products for €1.28 billionAMSTERDAM — Consumer products giant Unilever NV said Friday it has agreed to buy businesses including the Sanex and Duschdas brands from Sara Lee Corp. for €1.28 billion ($1.88 billion) Unilever to buy Sara Lee’s personal care products for euro1.28 billionAMSTERDAM — Consumer products giant Unilever NV said Friday it has agreed to buy businesses including the Sanex and Duschdas brands from Sara Lee Corp. for euro1.28 billion ($1.88 billion) HealthSouth Corp. founder’s 19 cars auctioned to pay off shareholders, including 1929 CadillacBIRMINGHAM, Ala. — HealthSouth Corp. founder Richard Scrushy’s fleet of cars has been sold at auction, collecting more than $800,000. Legislation keeps government from closing down, aids cash-strapped Postal ServiceWASHINGTON — A House-Senate panel on Thursday approved legislation to keep the government from closing down when the new budget year starts next week and employed a $4 billion bookkeeping maneuver to keep the financially troubled Postal Service afloat. Canada to review Avaya purchase of Nortel assets to determine if deal benefits CanadaTORONTO — Canada’s industry minister said Thursday he will review the sale of Nortel’s enterprise division to U.S. telecom company Avaya to determine if the deal significantly benefits Canada. Russian tycoon’s bid for New Jersey Nets annoys legislators at homeMOSCOW — Russian tycoon Mikhail Prokhorov’s bid for the New Jersey Nets may be a boon to the troubled basketball team, but some Russian legislators and analysts call it a blow to the nation’s sports. Prokhorov’s bid for NBA’s Nets annoys legislators at homeMOSCOW — Russian tycoon Mikhail Prokhorov’s bid for the New Jersey Nets may be a boon to the troubled basketball team, but some Russian legislators and analysts call it a blow to the nation’s sports. From Russia with cash: Billionaire Prokhorov to buy New Jersey Nets, move team to BrooklynEAST RUTHERFORD, N.J. — The NBA has truly gone global. Check local listings: Recession means empty seats, but NFL has no plans to ease blackout rulesNEW YORK — When Hurricane Katrina devastated New Orleans, the NFL waived its television blackout policy so Saints fans could watch even if games moved to Baton Rouge didn’t sell out. SKorean court upholds conviction for late president’s brother, reduces prison termSEOUL, South Korea — A South Korean court Wednesday upheld the conviction of the older brother of the late President Roh Moo-hyun for influence-peddling, but reduced the sentence he had received just days before the former leader’s suicide. Cadbury asks U.K. takeover panel to force Kraft to make formal bid, or drop itNEW YORK — Candy maker Cadbury PLC has taken Kraft Foods Inc.’s unsolicited bid to British regulators, asking them to make the American food maker produce a formal takeover bid or abandon the proposal, according to a published report. Safeguard sells additional 2.4 million shares of Clarient stakeWAYNE, Pa. — Safeguard Scientifics Inc., which invests in high-tech and life sciences ventures, said Tuesday it has sold an additional 2.4 million shares of its stake in medical device-maker Clarient Inc. Harbinger Capital cuts stake in New York Times Co. to 16.4 pct, calls company a ‘core holding’NEW YORK — Harbinger Capital Partners LLC says it has sold part of its 20 percent stake in The New York Times Co., but still considers the company a core holding. London-based Rio Tinto sells Alcan Composites to Swiss Schweiter Technologies for $349 millionMELBOURNE, Australia — Anglo-Australian mining giant Rio Tinto has advanced its debt reduction plans by selling building materials manufacturer Alcan Composites to Swiss machinery producer Schweiter Technologies for $349 million, the two companies said Tuesday. Bank of America to pay $425 million to exit loss-sharing arrangement with governmentWASHINGTON — Bank of America reached an agreement Monday to pay the United States $425 million to exit a costly arrangement whereby the government would have shouldered losses on risky assets from the bank’s takeover of Merrill Lynch. Drugmaker Merck seeks EU approval for $41B acquisition of Schering-Plough, expects ruling soonTRENTON, N.J. — Drugmaker Merck & Co. filed papers with regulators in the European Union seeking approval of its planned acquisition of Schering-Plough Corp. Artists, writers, celebs and others fight to save Hamptons’ NPR stationSOUTHAMPTON, N.Y. — Artists, entertainers and community activists are rallying to save Long Island’s only public radio station. |
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