Pfizer Pharmaceuticals agreed on Thursday to remove its drug Bextra from the U.S. market pending further discussions with the U.S. Food and Drug Administration, despite the fact that Pfizer had earlier declared that its drugs were safe. The FDA asked the drug maker, the largest in the world, to remove its arthritis drug from the [...]

The Chairman of the U.S. Federal Reserve testified before the Senate Banking Committee Wednesday that it is essential to strengthen the regulations governing the Fannie Mae and Freddie Mac mortgage finance companies, the largest and second largest buyers of home mortgages in the U.S., in order to lessen the risks to the finance system of [...]

With a number of its drug patents ready to expire and widespread general changes in how the industry operates, Pfizer, the largest drug company in the world, announced Tuesday that it was instituting $4 billion in cost cuts. This was necessary, it was said, because the company’s earnings will fall this year. Other concerns include [...]

Hit Entertainment is entertaining bids from three entities looking to acquire control of their children’s entertainment holdings. One bid, thought to be from a non-U.S. consortium, is anonymous for the present. Apax, a private equity firm, has made a bid that Hit seemed ready to accept. Finally, Lions Gate Entertainment appears to be considering offering [...]

Some U.S. shareholders in major corporations are attempting to gain more power than they have ever had in the election of members to companies’ boards of directors. These activists claim that this power is necessary in order to hold boards responsible for their actions in order to avoid scandals like the one that led to [...]

Best Buy is exploring two ways in which to increase sales and distinguish themselves from other stores in the retail consumer electronics and office supply categories. By turning to a niche marketing strategy in some of its stores and expanding is computer repair services to include not only private consumers but some small businesses as [...]

The good news that came out of the delayed report of Freddie Mac’s earnings in 2004 is that the fair value of it’s assets had increased by 13 percent last year. The bad news was that net income of this second-largest mortgage-finance provider in the U.S. had declined by 42 percent. Still, the federal office [...]

News that Ted Koppel will leave his Nightline broadcast and ABC at the end of the year has added fuel to speculation that the era of television news may be drawing to a close. ABC News said it would continue some form of the late-night, in-depth news broadcast, born in the days of the Iran [...]