BUSINESS NOTES AMGEN SUED OVER $31.9 MILLION BILL.An invoice nine years in the making sent by biotechnology superpower Amgen is the basis of a Minnesota company's lawsuit against the Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. company. Minneapolis-based Techne Corp. announced Wednesday that it filed suit against Amgen after the latter company sent it a $31.9 million bill. Amgen said in the invoice that had mistakenly neglected to bill Techne for shipments of the human hormone erythropoietin erythropoietin /eryth·ro·poi·e·tin/ (-poi´e-tin) a glycoprotein hormone secreted by the kidney in the adult and by the liver in the fetus, which acts on stem cells of the bone marrow to stimulate red blood cell production that it has made since 1991. Techne contends that it owes Amgen nothing and that Amgen should have billed it in a more timely manner. The company added that in the past nine years, it has only sold $2.7 million worth of products containing erythropoietin. Amgen declined to comment. - Daily News U.S. trade deficit hits record high WASHINGTON - The U.S. trade deficit climbed to an all-time high of $31.9 billion in July as rising oil prices pushed imports to a record level. The Commerce Department said Wednesday that America's deficit with China soared to the highest level ever recorded with a single country. The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. also set records in its deficits with Japan, Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). and Canada. The July deficit was up 6.9 percent from a revised $29.8 billion June trade gap. So far this year, America's trade deficit is running at an annual rate of $353.7 billion, far above last year's record of $265 billion, as trade remains the one blot on an otherwise sterling economic performance. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. IMF IMF See: International Monetary Fund IMF See International Monetary Fund (IMF). chief details vote, loan reforms PRAGUE, Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. - The IMF's head banker outlined broad reform measures Wednesday, couching his plans in soothing promises to give poor countries a bigger voice in globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation . Topping the list at the IMF are plans to reassess the influential voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. of a handful of rich countries and the goal of giving special loan packages to 10 more of the world's poorest nations by the end of the year, IMF Managing Director Horst Koehler said. - Associated Press Senate panel OKs vehicle safety bill WASHINGTON - A Senate committee approved legislation Wednesday that would give federal regulators more authority to investigate vehicle-related safety defects. The measure is ``an imperfect piece of legislation,'' said Sen. John McCain, chairman of the Senate Commerce Committee. But, given the Firestone tire recall, he said it was important for Congress to act. - Associated Press Limits proposed on airing violence WASHINGTON - Television shows with graphic bloodshed or gratuitous violence could be banned from daylight viewing under a measure that passed the Senate Commerce Committee on Wednesday. The bill, which limits such programming when children are likely to be watching, comes a week after federal regulators accused the entertainment industry of marketing violent, adult-rated products to young people. Despite the industry's protests, violence is made accessible to children because it makes money, said Sen. Ernest Hollings, D-S.C., one of the sponsors of the bill. He has been pushing for a ``safe harbor'' of children's TV viewing time for years. - Associated Press |
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