US Business
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Boston mutual-fund titan Fidelity Investments is laying off 550 employees as the company's president continues to follow through on a plan to cut spending.
Read Fidelity to Lay Off 550 Employees (Links)
A Walton family member is expected to join Wal-Mart's board in what some see as the start of a leadership change.
Read Walton Seating May Signal New Leadership (Links)
The Fed may be distorting private markets, encouraging risky behavior, and the central bank's independence may be endangered because of lending programs created to combat the credit crisis, Richmond Fed President Lacker said. (Remarks)
Read Fed Insider Critiques Bear Rescue (Links)
A federal judge ruled that menswear designer Joseph Abboud, who sold his trademark and later left the company that owns it, can't use his name to promote a new line he calls "jaz."
Read Abboud Can't Use His Name on Line (Links)
Airline woes haven't spread beyond the U.S., but experts say that could change soon after the summer season.
Read U.S. Airline Woes Isolated, for Now (Links)
Sam Zell detailed planned changes to Tribune's struggling newspaper division, including a reduction in the number of pages and staffers at its daily papers.
Read Zell Unveils Sweeping Changes (Links)
Federal officials unsealed two indictments charging Broadcom co-founder Henry Nicholas with fraud relating to stock-options backdating, as well as several drug charges.
Read Broadcom's Ex-Chief Indicted (Links)
Verizon Wireless agreed to buy Alltel in a deal valued at $28.1 billion, which includes the assumption of $22.2 billion in debt, a pact that would create the largest U.S. wireless carrier by subscribers.
Read Verizon Agrees to Buy Alltel (Links)
S&P stripped its triple-A ratings from bond insurers Ambac and MBIA, ending months of debate about whether the firms deserve their top-tier credit standing. Shares of both Ambac and MBIA advanced.
Read MBIA, Ambac Downgraded (Links)
The Justice Department cleared the way for SABMiller and Molson Coors to combine their U.S. operations, in a deal that promises to create more potent competition for industry leader Anheuser-Busch.
Read Justice Department OKs Beer Deal (Links)
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