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Beats headphone maker buys MOG music service

July 2, 2012 5:50 pm | by RYAN NAKASHIMA - AP Business Writer - Associated Press | News | Comments

Upscale headphone maker Beats Electronics is buying music subscription service MOG in an attempt to improve what goes into playback devices as much as what comes out of them.Beats, founded by rapper Dr. Dre and recording executive Jimmy Iovine, has devoted its brand to high-quality sound. But...

LA district attorney reviewing Bryson incident

July 2, 2012 4:50 pm | by The Associated Press | News | Comments

Prosecutors on Monday said they are reviewing evidence to determine whether charges should be filed against former Commerce Secretary John Bryson who was involved in a trio of traffic accidents last month.Evidence was presented by San Gabriel police to county prosecutors Monday, said Sandi...

GlaxoSmithKline to pay $3B for health fraud

July 2, 2012 3:50 pm | by LINDA A. JOHNSON - AP Business Writer - Associated Press | News | Comments

British drugmaker GlaxoSmithKline will pay $3 billion in fines — the largest heathcare fraud settlement in U.S. history — for criminal and civil violations involving 10 drugs that are taken by millions of people.The Justice Department said Monday that GlaxoSmithKline PLC will plead guilty to...


Charged ex-BP engineer: Deleted texts were routine

July 2, 2012 2:50 pm | by MICHAEL KUNZELMAN - Associated Press - Associated Press | News | Comments

Lawyers for a former BP engineer are pressing federal prosecutors to explain how their client impeded a grand jury probe by deleting text messages about the company's response to the 2010 oil spill in the Gulf of Mexico.In a court filing Monday, Kurt Mix's attorneys also seek a court order...

Sourcefire CEO Burris being treated for cancer

July 2, 2012 2:50 pm | by The Associated Press | News | Comments

Computer network security company Sourcefire Inc. said Monday that its CEO, John Burris, has begun a leave to undergo treatment for colon cancer.The company said Burris' medical leave began Thursday. He has worked at Sourcefire since 2008 and will remain on the board. Company founder and Chief...

S & P updates MidCap 400 index

July 2, 2012 2:50 pm | by The Associated Press | News | Comments

S&P Dow Jones Indices LLC announced Monday that Rosetta Resources Inc. will replace Catalyst Health Solutions Inc. in the S&P MidCap 400 index after the close of trading on July 5.The move comes as a result of SXC Health Solutions Corp.'s acquisition of Catalyst Health Solutions, expected to be...

Brazil judge: Shell, BASF must put $382M in fund

July 2, 2012 2:50 pm | by BRADLEY BROOKS - Associated Press - Associated Press | News | Comments

A Brazilian judge has ruled that the local subsidiaries of oil company Shell and the world's largest chemical company, BASF, must pay $382 million into a compensation fund to potentially cover more than 1,000 workers who allege they were contaminated and sickened at an agricultural chemical...

China fishermen sue ConocoPhillips over spills

July 2, 2012 2:50 pm | by JUAN A. LOZANO - Associated Press - Associated Press | News | Comments

A group of 30 fishermen from China sued ConocoPhillips in U.S. federal court on Monday, claiming their livelihoods have been greatly impacted by two oil spills last year from the company's offshore drilling operations in northeastern China.Attorneys for the fishermen said the lawsuit was filed...


Anadarko sells minority stake in Gulf development

July 2, 2012 1:50 pm | by The Associated Press | News | Comments

Anadarko Petroleum Corp. has agreed to sell a 7.2 percent working interest in a Gulf of Mexico project to an undisclosed party for $556 million to cover development costs.The Woodlands, Texas, independent oil and natural gas producer said Monday that the money should finance the Lucius project...

SC regulators clear last bar to Duke-Progress deal

July 2, 2012 1:50 pm | by The Associated Press | News | Comments

South Carolina utilities regulators are giving the final approval needed before Duke Energy can complete its takeover of Progress Energy and form the largest American electric company.Public Service Commission of South Carolina decided Monday that the merged company could more efficiently and...

Johnson & Johnson recalls K-Y Liquibeads

July 2, 2012 1:50 pm | by The Associated Press | News | Comments

Johnson & Johnson said Monday it is taking its K-Y Liquibeads vaginal lubricant off the market because regulators believe the product needs an additional approval.The New Brunswick, N.J., company said it there are no safety or performance issues and consumers are not being asked to return any...

Brookdale Senior Living names new chairman

July 2, 2012 1:50 pm | by The Associated Press | News | Comments

Brookdale Senior Living Inc. said Monday that its non-executive chairman has stepped down and named a current member of the board to replace him. Wesley Edens will remain a member of Brookdale's board, the company said. Edens, 50, had been chairman since Brookdale's formation.The appointment of...

Workers' union back at talks with American

July 2, 2012 12:50 pm | by JUSTIN JUOZAPAVICIUS - Associated Press - Associated Press | News | Comments

Workers at American Airlines' Tulsa maintenance base said they were hopeful Monday that the bankrupt air carrier could reach labor agreements with pilots, flight attendants and mechanics.American has said a bankruptcy court judge could throw out current contracts with workers if it's unable to...

Exterran Holdings gets Williams Partners contract

July 2, 2012 12:50 pm | by The Associated Press | News | Comments

Oil and gas services provider Exterran Holdings Inc. said Monday that it received a contract from Williams Partners to design, make and install natural gas facilities in West Virginia.Financial terms were not disclosed.The facilities are part of Williams Partners' Ohio Valley midstream...

Kodak shuts photo-sharing site on schedule

July 2, 2012 12:50 pm | by The Associated Press | News | Comments

One of the Internet's first photo-sharing sites has closed.Eastman Kodak Co. shut its Kodak Gallery service as scheduled on Monday. Kodak filed for bankruptcy protection in January and sold much of the photo-sharing business to Shutterfly for $23.8 million as Kodak tries to generate cash and...


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