November 11 Biz Minute

After just three months as head of embattled insurer AIG, Robert Benmosche has threatened to leave his post as he struggles to deal with heavy government oversight and restrictions on what the bailed-out company can pay employees.

Motorola, the biggest US mobile-phone maker, is looking for buyers for its division that makes television set-top boxes, and is shopping it for about $4.5 billion dollars

Macy's third-quarter loss shrunk as tight inventory controls and a move to localize merchandise at its department stores by region paid off. The company also raised its full-year profit and sales outlook.

Crude oil prices fluctuated as Chinese crude imports rose near a record and the dollar rebounded from a 15-month low.

The Food and Drug Administration will convene a two-day meeting tomorrow to hear the drug industry's position on Internet marketing. The agency has agreed to consider developing rules for online advertising after pharmaceutical companies complained that the current guidelines, which require a detailed list of possible side effects, have left them hamstrung on the Web.


California's ongoing fiscal crisis has attracted national attention, but a study by the Pew Center says that nine other states are barreling toward similar economic disaster. And that translates into higher taxes, more layoffs of government employees, increasingly crowded classrooms and fewer services in states that account for more than one-third of America's population and economic output

Category:

News & Politics

Tags:

• AIG
• Robert Benmosche
• Motorola
• mobile phone
• cell phone
• television
• tv
• Macy'[s
• oil
• chinese
• china
• FDA
• Food and Drug
• pharmaceutical
• web
• California
• Pew Center
• economy
• taxes
• layoffs