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Costco profit up a bit, to cut prices to win sales

NEW YORK, Dec. 11, 2008 (Reuters) — Costco Wholesale Corp's quarterly profit rose slightly as strong results from its gasoline stations helped to offset weak consumer demand for all but the most essential household items. ...  > full story

BCE buyout crumbles as break-up fee battle looms

NEW YORK/TORONTO, Dec. 11, 2008 (Reuters) — The C$34.8 billion ($28.3 billion) leveraged buyout of BCE Inc, Canada's biggest telecommunications company, ended in collapse on Thursday, setting the stage for a fight between the company and its buyers over the deal's C$1.2 billion breakup fee. ...  > full story

P&G keeps profit view despite softer sales

CHICAGO, Dec. 11, 2008 (Reuters) — Procter & Gamble Co said on Thursday it was on track to meet its earnings forecasts in the current quarter and fiscal year, although sales will be weaker than expected this quarter because of the recession. ...  > full story

Recession seen worsening, deflation a risk

SAN FRANCISCO, Dec. 11, 2008 (Reuters) — The "nasty" U.S. recession will tighten its grip next year as unemployment rises and weak home and stock prices imperil consumers, finance firms and debt-laden businesses, a UCLA Anderson Forecast report released on Thursday said. ...  > full story

Retail sales post big drop in November

NEW YORK, Dec. 11, 2008 (Reuters) — U.S. retail sales excluding autos posted their biggest monthly drop in five years in November, as consumers, spooked by a deepening recession, pared spending for a third straight month, a private report released on Thursday showed. ...  > full story

Lilly says 2009 earnings crimped by ImClone costs

NEW YORK, Dec. 11, 2008 (Reuters) — Eli Lilly and Co said on Thursday that 2009 results would be crimped by costs tied to its acquisition of ImClone Systems Inc and weaker foreign currencies. ...  > full story

Government must exit private enterprise in time: SEC head

Dec. 11, 2008 (Reuters) — The U.S. Government must create strategies to eventually dilute its involvement with private enterprise, Chairman of the Securities Exchange Commission Christopher Cox said in the Wall Street Journal. ...  > full story

AIG CEO says asset sales may be delayed

HONG KONG, Dec. 11, 2008 (Reuters) — The CEO of U.S. insurer AIG , which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans, though certain units have attracted heavy interest. ...  > full story

Newsweek plans staff cuts in makeover: report

Dec. 11, 2008 (Reuters) — Newsweek magazine is planning staff cuts as part of a major editorial makeover likely to result in a slimmer publication, the Wall Street Journal said, citing people close to the magazine. ...  > full story

Goldman rule tweak to spur veterans to quit: report

Dec. 11, 2008 (Reuters) — Goldman Sachs Group Inc will change its retirement rules in a way that will encourage some long-serving employees to leave by year-end, which may add to its existing workforce reductions, the Financial Times reported. ...  > full story
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