Latest Business Wires

A federal judge on Wednesday ordered The Reserve Primary Fund, which last year roiled the $3 trillion money-market industry by "breaking the buck," to pay out its remaining assets to shareholders waiting to get their money back.

Freedom Communications said Wednesday that it has finalized an agreement to sell the East Valley Tribune in the Phoenix suburb of Mesa to a company that owns free papers in Tucson, Ariz., and Telluride, Colo.

Insurer American International Group Inc. said it has cut the salaries of three top executives to comply with pay restrictions for companies that took federal bailout money, according to a regulatory filing Wednesday.

In a Nov. 24 story about Credit Suisse Securities (USA) LLC buying back auction rate securities from investors, The Associated Press, relying on information from the Colorado Department of Regulatory Agencies, reported erroneously how much the company was buying back. It has agreed to buy back up to $17.2 million from Colorado individual investors, charities, and small- and medium-sized businesses, not $79.4 million. The story also misstated how much auction rate securities the company has bought back from retail investors or agreed to resolve as part of a multistate agreement. That number should be $550 million, not $3.5 billion.

Global Defense Technology & Systems Inc. said Wednesday that it closed its initial public offering of 4.6 million common shares, which were priced at $13 apiece and yielded $36.3 million in net proceeds.

Deutsche Bank AG and a BNP Paribas unit sued Bank of America NA on Wednesday over allegations the bank failed to pay back $1.73 billion in secured notes.

TUESDAY, Dec. 1

Among the earnings stories for Wednesday, Nov. 25, from AP Financial News:

The Nashville Predators ended their naming rights deal Wednesday with the Sommet Group of Tennessee for the team's arena and are suing the company for failing to pay.

The nation's largest funeral services company has resolved antitrust issues with the Nevada state attorney general and plans to proceed with the purchase of a large Las Vegas-area mortuary business, officials said Wednesday.

Jamaica will for the first time allow horse racing on Sundays in a bid to revive the economy and draw tourists, but will ban off-track betting on that day.

Alcohol abuse cost New Mexico 993 lives and nearly $2.5 billion in 2006 in lost productivity, health care expenses and costs associated with property loss from crashes and fires, a new report shows.

Otter Tail Power Co.'s North Dakota customers will be paying slightly lower rates under a settlement of an electric rate case.

The state of North Carolina has hired a California company to create an archive system designed to manage and retrieve state employee e-mails more easily.

Massachusetts Democratic Senate hopeful Stephen Pagliuca has spent $5.4 million of his own money in his bid for the seat once held by the late Edward Kennedy.

La Jolla Pharmaceutical Co. said Wednesday its shareholders did not support a proposal to dissolve the company, and it will consider other options.

Silicon wafer manufacturer MEMC Electronic Materials Inc. amended its revolving credit agreement last week, according to a regulatory filing Wednesday.

Consolidated Edison Inc. said Wednesday it will get another $45 million in federal stimulus money to improve the electricity grid in the New York area.

Vermont food shelves met the increasing demand for help — barely — but they remain concerned about helping those needing Christmas time help in a state ranked among the nation's hungriest.

Sneak previews of upcoming blockbusters. Snappy reminders to buy popcorn, and turn off all cell phones and pagers.