BOGOTA, Oct 21- Panama and Colombia will negotiate a financial information-sharing deal, ending a stand-off over Colombia's classification of the Central American country as a tax haven and removing it from that status, Colombia's president said on Tuesday. The move could have pushed Colombian investors out of Panama, as assets in declared havens are taxed at...» Read More
BOSTON-- Two members of Congress have asked the U.S. Department of Justice to investigate whether a specialty pharmacy linked to a nationwide meningitis outbreak violated any federal laws or regulations. FDA spokesman Steven Immergut said the investigators were there as part of a broad investigation by several state and federal agencies into the outbreak.
YOKOSUKA, Japan-- Electronically managed steering that completely bypasses the mechanical link of a clutch is among the new safety technology from Japanese automaker Nissan. Other vehicles are smart enough to park themselves.
RATING CONFIRMED: Moody's Investors Service on Tuesday confirmed its rating on Spain's government debt at "Baa3", its lowest investment-grade rung. OUTLOOK NEGATIVE: The agency, meanwhile, assigned a negative outlook to the rating, signaling that a downgrade is still possible in the coming months.
SANTA'S DETOUR: Intel expects the usual holiday bounce in PC sales to be cut in half this year, due to a confluence of factors. THIRD QUARTER: After cutting its forecast twice, Intel beat expectations. THE OUTLOOK: For the fourth quarter, Intel expects revenue of $13.6 billion, slightly below analyst expectations.
LOWER PROFIT: Apollo Group Inc. reported that its net income fell 60 percent in its fiscal fourth quarter, as the for-profit education company's revenue declined 11 percent amid a sharp drop in student enrollment at University of Phoenix.
HOLDING STEADY: IBM's third-quarter profit of $3.8 billion was unchanged from a year ago. Earnings per share though worked out to $3.33 per share, a gain from $3.19 per share a year ago because IBM Corp. has less stock outstanding now. Revenue also fell 5 percent from the same time last year amid economic weakness in Europe.
SHAREHOLDER SHUTDOWN: Three shareholder proposals aimed at diluting the control of News Corp. by the family of Rupert Murdoch were defeated Tuesday, but a couple proposals had significant support from independent shareholders.
LOS ANGELES-- News Corp. managed to avoid rowdy protests at its annual shareholders meeting Tuesday, but that didn't stop stockholders from voicing complaints about the grip on the company held by founder and CEO Rupert Murdoch and his family.
LOS ANGELES-- State regulators will consider whether to investigate soaring costs at the shuttered San Onofre nuclear power plant _ and who should pay them. The plant located between Los Angeles and San Diego hasn't produced power since Jan. 31. The Public Utilities Commission said Tuesday it plans the vote for Oct. 25.
LOS CABOS, Mexico-- Hurricane Paul weakened into a tropical storm Tuesday as it neared landfall on a sparsely populated stretch of Mexico's southern Baja peninsula.
DRINK UP: The Coca-Cola Co. and drug maker Sanofi are partnering to launch a line of "beauty drinks" in France. SMALL TEST: Coca-Cola declined to give details but said in a statement that the drinks will be sold in a "small scale pilot" limited to a number of pharmacies in the country.
MILPITAS, Calif.-- Circuit maker Linear Technology Corp. said Tuesday that its first-quarter net income fell because of weak orders, and it warned that second-quarter revenue would be weaker than in the quarter it just wrapped up. The company said it earned $105.2 million, or 45 cents per share, for the quarter that ended Sept. 30.
Moody's Investors Service on Tuesday confirmed its rating on Spain's government debt but assigned a negative outlook, signaling that a downgrade is still possible in the coming months. Moody's kept Spain's rating at "Baa3", its lowest investment-grade rung.
Intel Corp. forecast a weak holiday season, in part because tablets, which typically don't use Intel chips, are cutting into PC sales. Intel is hoping to get more of its chips into tablets, helped by the release of a tablet-friendly new version of Windows.
MINNEAPOLIS-- Trucking and logistics company C.H. Robinson Worldwide Inc. said on Tuesday that it sold its payment services business for $302.5 million. T-Chek has been a unit of C.H. Robinson since 1984. It has 190 workers, most of them based in Minnesota. C.H. Robinson said the new owners expect to "retain a Minnesota presence.
In a story on Oct. 10, The Associated Press reported that Ameridose LLC had settled a defamation and slander suit against one of its customers, Novation, that had alleged the pharmacy had quality control problems.
BOSTON-- Two members of Congress have asked the U.S. Department of Justice to investigate whether a specialty pharmacy linked to a nationwide meningitis outbreak violated any federal laws or regulations. Criminal investigators from the Food and Drug Administration were at the Framingham company Tuesday, company spokesman Andrew Paven said.
SUNNYVALE, Calif.-- Intuitive Surgical Inc. said Tuesday its net income jumped 50 percent in the third quarter on greater sales of its robotic surgery systems. The company said economic conditions in Europe and changes in prostate cancer treatment reduced da Vinci system use.
NEW YORK-- Pfizer Inc. said Tuesday a clinical trial showed its anti-smoking treatment Chantix was safe and effective in patients with depression. EU regulators and the U.S. Food and Drug Administration both approved Chantix in 2006. Sales approached $900 million in 2007 but have slipped because of concerns about the drug's side effects.
SWITCHING TRACKS: CSX Corp. says its third-quarter profit and revenue both declined 2 percent because the railroad hauled fewer carloads and the mix of goods it carried changed. COAL CRUNCH: CSX hauled 16 percent less coal overall during the quarter as demand for coal from domestic utilities remained weak.