October 14 Biz Minute

Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program

JPMorgan Chase & Co. reported strong third-quarter earnings today as its thriving investment banking business more than offset rising loan losses.

Regulators said today that rising losses on commercial real estate loans will continue to hurt U.S. banks in coming months and pose the biggest challenge for many financial institutions.


National Amusements said it is selling a portion of its stake in CBS Corp. and Viacom Inc. to pay off its debts. The move appears to alleviate concerns that they could lose control of the companies or run into trouble with its creditors,

Pfizer's $68 billion purchase of Wyeth will close tomorrow after antitrust regulators in the U.S. and Canada cleared the deal, which will make Pfizer the world's largest drugmaker by revenue.


The IRS announced today that over 7,500 international tax dodgers have applied for an amnesty program that promises no jail time and reduced penalties for tax cheats who come forward.

Mattel Inc. and its Fisher-Price subsidiary have agreed to settle a consumer lawsuit for what could total more than $50 million over the 2007 recall of millions of toys made in China that were found to contain high levels of lead.

Category:

News & Politics

Tags:

• Retail
• Cash for Clunkers
• JPMorgan Chase
• regulators
• commercial real estate
• loans
• National Amusements
• CBS
• Viacom
• Pfizer
• Wyeth
• drugmaker
• IRS
• tax
• ammesty
• Mattel
• Fisher-Price
• China
• lead

[measax]

Sweet show btw.