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Euro falls against dollar on German survey

Submitted by Fox First at Ten on September 24th

NEW YORK (AP) - The euro fell against the dollar Monday after a closely-watched survey found that business optimism in Germany fell this month. Germany's Ifo index of business confidence fell to 101.4 in September from 102.3 in August. Economists expected no change. It's the fifth month in

Analysts: Gov't inquiry bodes badly for Questcor

Submitted by Fox First at Ten on September 24th

By TOM MURPHYAP Business Writer A federal government investigation into Questcor Pharmaceuticals Inc. could deal another blow to sales for its only product and main revenue source, H.P. Acthar gel, according to analysts who cover the company. The Anaheim, Calif., drugmaker said Monday the U.S.

News Summary: TiVo reaches settlement with Verizon

Submitted by Fox First at Ten on September 24th

By The Associated Press THE SETTLEMENT: Verizon will pay Tivo at least $250.4 million to settle a patent lawsuit related to its DVR technology, and the two signed a licensing deal. The two companies also agreed to dismiss all pending litigation. OTHER DEALS: The deal with Verizon is the latest

US stocks drift as European gloom returns

Submitted by Fox First at Ten on September 24th

By DANIEL WAGNERAP Business Writer U.S. stocks meandered sideways Monday as fears about Europe overshadowed recent excitement about central banks' efforts to boost the market. Stocks opened lower, recovered by mid-afternoon to nearly flat and closed down modestly. An index of business

News Summary: CGGVeritas buying Fugro division

Submitted by Fox First at Ten on September 24th

By The Associated Press THE TRANSACTION: CGGVeritas, a provider of equipment and services to oil and gas companies, is buying Fugro's geoscience unit for 1.2 billion euros ($1.55 billion). THE REASON: The deal will expand the French company's capabilities in serving its customers in

Stocks lower; Apple falls after missing a target

Submitted by Fox First at Ten on September 24th

NEW YORK (AP) - Stocks are lower at midday on Wall Street. The Dow Jones industrial average is off 33 points at 13,545. The Standard & Poor's 500 index is down five at 1,455. And the Nasdaq composite index is down 23 at 3,157. Apple stock is off more than $10, about 1.5 percent, after sales

Court convicts in deadly 2001 French factory blast

Submitted by Fox First at Ten on September 24th

PARIS (AP) - A court in southwestern France on Monday convicted a factory chief and a subsidiary of oil giant Total of manslaughter for an explosion at a chemical plant in 2001 that killed 31 people. The appeals court overturned earlier acquittals, 11 years after the blast that tore apart the AZF

Feds order Discover to refund $200M to cardholders

Submitted by Fox First at Ten on September 24th

By DANIEL WAGNERAP Business Writer WASHINGTON (AP) - Discover Bank will pay millions in fees to settle accusations by regulators that it pressured credit card customers to buy costly add-on services like payment protection and credit monitoring. Discover, the sixth-biggest U.S. credit card

Discover Bank to refund $200M to customers and pay fine to settle charges of tricky marketing

Submitted by Fox First at Ten on September 24th

WASHINGTON (AP) - Discover Bank to refund $200M to customers and pay fine to settle charges of tricky marketing. Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Oil drops below $92 on gloomy economic outlook

Submitted by Fox First at Ten on September 24th

By JOSHUA FREEDAP Business Writer Worries about weaker economic growth dragged down oil prices Monday. Oil has now fallen five of the last six trading days. It fell more than 6 percent last week. Benchmark crude fell 96 cents, or 1 percent, to finish at $91.93 on the New York Mercantile