BUSINESS NOTES ANTITRUST ATTORNEY TO HELP IN MERGER.NEW YORK - Joel Klein, the former federal prosecutor who successfully branded Microsoft a monopoly, has been hired by Bertelsmann AG to head the U.S. operations of the German media conglomerate. Klein, who ran the Justice Department's antitrust division until September, could give a boost to Bertelsmann's government relations, especially a bid to win European regulatory approval for a planned merger between Bertelsmann's powerful BMG BMG Bundesministerium für Gesundheit (Germand: Federal Ministry for Health) BMG Be My Girl BMG Blue Man Group BMG Bertelsmann Music Group BMG Be My Guest BMG Browning Machine Gun BMG Bulk Metallic Glass music division and British heavyweight EMI (ElectroMagnetic Interference) An electrical disturbance in a system due to natural phenomena, low-frequency waves from electromechanical devices or high-frequency waves (RFI) from chips and other electronic devices. Allowable limits are governed by the FCC. . - Associated Press Debt collection contracts signed AGOURA HILLS - Electronic Clearing House Inc. announced on Wednesday contracts with five collection agencies to provide two new electronic payment services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. . The services use the Federal Reserve's Automated Clearing House See ACH. to electronically move funds, one for collecting consumer debts by phone and the other for automatically re-presenting returned paper checks as electronic items. Contracts have been signed with Accounts Receivable Management Inc. of Rockford, Ill.; American Collection Systems Inc. of Laramie, Wyo.; Advanced Collection Services Ltd. of Plainville, Conn.; Check Alert Systems Inc. of Cadillac, Mich.; and Credit Bureau Data Inc. of La Crosse, Wis. - Daily News Overhaul planned for ailing CNNfn NEW YORK - CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. is remaking its troubled CNNfn business news channel, changing its name to CNN Money and focusing more on personal finance. CNN made the announcement Wednesday as AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner executives told analysts they continue to expect aggressive company growth, despite a cooling advertising market. CNNfn has never competed effectively against CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. , the nation's leading business news network. CNNfn has struggled to get on cable systems. Even Time Warner Cable This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , a sister unit, wouldn't put the network on some of its systems. As a result, CNNfn is available in only about 17 million homes nationwide, compared with 75 million for CNBC. - Knight Ridder Newspapers Drug Emporium selling state stake POWELL, Ohio - Drug Emporium Inc. said Wednesday that it is selling a majority stake in its 20 California stores, including one in North Hollywood, as part of a restructuring plan for the financially strapped drugstore chain. Terms of the deal were not disclosed, but Drug Emporium said it would keep a minority interest in the new company. The deal is expected to be closed in 45 days. - Associated Press Pharmaceutical merger given OK PHILADELPHIA - GlaxoSmithKline said the Federal Trade Commission's approval of its $72 billion merger became final Wednesday. The FTC FTC See Federal Trade Commission (FTC). had approved terms of the merger of Glaxo Wellcome and SmithKline Beecham in December but said it wouldn't finalize it until a period of public comment had lapsed. GlaxoSmithKline, a research-based pharmaceutical and health care company, has U.S. headquarters in Philadelphia and Triangle Park, N.C. - Associated Press Ten sued by SEC in stock scheme WASHINGTON - Federal regulators have sued 10 people for their alleged roles in a complex stock manipulation scheme. The accused include the only person to go to prison for Iran-contra convictions and a former secretary of state of Rhode Island. The Securities and Exchange Commission on Wednesday announced the civil lawsuits, which were filed Tuesday in federal courts in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Miami. The SEC's investigation into the alleged manipulation of stock of Systems of Excellence Inc. has been proceeding for more than four years and the agency has recovered nearly $15 million from defendants. - Associated Press |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion