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Dead retailers live on the Internet

Meltdown 101 Phantom Retailers

Circuit City. Linens 'N Things. Bombay Co. They're all out of business, their stores shuttered, many employees laid off.

Updated: Jul. 3, 2009 10:53 PM | Full story

Price spike causesbrokerage losses

PVM Oil Associates, the world's biggest over-the-counter oil brokerage, says it lost nearly $10 million this week because of unauthorized trades that caused a temporary spike in Brent crude markets.

Updated: Jul. 3, 2009 10:53 PM | Full story

Ex-CEO accused of hiding money

HealthSouth is accusing fired chief executive Richard Scrushy of hiding money in offshore bank accounts and transferring assets out of his name to avoid paying court judgments.

Updated: Jul. 3, 2009 10:53 PM | Full story

Air crew in video wears only paint

New Zealand's national airline has adopted a cheeky way to encourage passengers to watch its in-flight safety video: The cabin crew's uniforms are nothing but body paint.

Updated: Jul. 3, 2009 10:53 PM | Full story

Value deals help sell fast food

Tough times call for creative measures, so this summer several quick-service restaurants are offering more specials and value deals.

Updated: Jul. 3, 2009 10:53 PM | Full story

Older job-seekers battle bias

Like many unemployed older workers, 64-year-old Allan Kellum fears his age has made it harder to find a new job.

Updated: Jul. 3, 2009 4:49 AM | Full story

Online retailer severs N.C. program ties

Online retailer Overstock.com has followed Amazon.com's decision to cut off a commission program to North Carolina-based Web sites.

Updated: Jul. 3, 2009 4:26 AM | Full story

Obama welcomes Cree CEO

Chuck Swoboda, chief executive of LED lighting company Cree, visited the White House on Thursday and shared his company's success story with President Obama.

Updated: Jul. 3, 2009 4:49 AM | Full story

Ambiente expands its space

Retailing:The furniture industry is another one truly feeling the pinch of the down economy. But one Raleigh furniture company is expanding.

Updated: Jul. 3, 2009 4:39 AM | Full story

Jobless data squash Dow

A dour report on job losses in June sent stocks sharply lower Thursday.

Updated: Jul. 2, 2009 10:09 PM | Full story

Johnson & Johnson invests in Irish drug-maker

Johnson & Johnson, making a big jump into the risky but potentially lucrative field of Alzheimer's disease, is taking a major stake in Irish biopharmaceutical company Elan Corp., investing up to $1.5 billion initially.

Updated: Jul. 3, 2009 4:49 AM | Full story

Factory orders up 1.2 percent in May

Orders to U.S. factories jumped in May by the largest amount in nearly a year, another sign that the nosedive in manufacturing is nearing an end.

Updated: Jul. 2, 2009 11:23 PM | Full story

BofA to pay U.S. $713 million

Bank of America's board has authorized roughly $713 million in dividend payments to the U.S. government under the Troubled Asset Relief Program.

Updated: Jul. 2, 2009 11:18 PM | Full story

FDA approves heart drug Multaq

Sanofi-Aventis SA said Thursday that its drug Multaq, which treats irregular heart rhythms, received marketing approval from the Food and Drug Administration.

Updated: Jul. 2, 2009 11:18 PM | Full story

$50 million will end Beazer's fraud case

Federal investigators filed mortgage and accounting fraud charges Wednesday against Beazer Homes USA, but the homebuilder will escape prosecution because it agreed to pay victims $50 million and accepted responsibility.

Updated: Jul. 2, 2009 5:42 AM | Full story

Philip Morris to buy South Africa snuff maker

Philip Morris International, maker of Marlboro and other cigarettes for sale overseas, has agreed to buy a Swedish company's South African snuff and pipe tobacco operations for 1.75 billion South African rand, or roughly $222 million.

Updated: Jul. 2, 2009 6:29 PM | Full story

Exelon raises hostile bid for NRG to $8 billion

Exelon Corp. on Thursday sweetened its hostile takeover bid for NRG Energy Inc. by 12 percent to $8 billion in stock, citing newly identified cost savings along with NRG's recent deal for Reliant Energy's Texas retail business.

Updated: Jul. 2, 2009 5:29 PM | Full story

Euro zone unemployment hits 10-year high in May

Unemployment in the 16 countries that use the euro spiked to a 10-year high in May, reinforcing concerns any recovery will take time with so many people out of work.

Updated: Jul. 2, 2009 5:14 AM | Full story

New gym to honor Peak Fitness contracts

Peak Fitness customers whose Chapel Hill gym is closing this month will be able to transfer their memberships to a second club in town that is being sold, that club’s new owner said Friday.

Updated: Jun. 19, 2009 3:46 PM | Full story

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