Reuters: Business
Reuters: Business
P&G to Buy Gillette for $55.8 Billion
NEW YORK (Reuters) - Procter & Gamble Co. PG.N on Friday said it would buy Gillette Co. G.N in a deal worth about $55.8 billion, uniting two of the world's largest makers of household goods ranging from Pampers diapers to Duracell batteries.
Stocks End Lower as Merck, Iraq Hurt
NEW YORK (Reuters) - U.S. stocks ended lower on Friday, dragged down by a sharp fall in drugmaker Merck & Co. Inc. MRK.N on concerns about a key drug, worries ahead of the Iraq election and weaker-than-expected economic growth.
Economic Growth Slows, Inflation Up
WASHINGTON (Reuters) - The U.S. economy grew at a weaker-than-expected 3.1 percent annual pace in the final quarter of 2004, its slowest since the beginning of 2003 as the country's trade performance deteriorated and inflation picked up, a government report on Friday showed.
McDonald's Profit More Than Triples
LOS ANGELES (Reuters) - McDonald's Corp. MCD.N on Friday said quarterly earnings more than tripled as its U.S. business improved further and signaled it might pursue a spinoff or other options for its Chipotle Mexican-style chain.
Lockheed Team Wins Presidential Chopper
WASHINGTON (Reuters) - The U.S. Navy on Friday said it had chosen a transatlantic team led by Lockheed Martin Corp. LMT.N to build a new U.S. presidential helicopter fleet in a deal valued at $1.7 billion.
Dollar Down Slightly Versus Euro
NEW YORK (Reuters) - The dollar fell modestly against the euro on Friday, trimming earlier losses following below-consensus U.S. growth data as markets grew cautious ahead of a plethora of economic news and events next week.
Merck Hit with SEC Probe, Patent Ruling
NEW YORK (Reuters) - Merck and Co. MRK.N suffered a double blow on Friday when a court ruled that the patent on its second-biggest drug will lapse a decade earlier than expected and U.S. regulators elevated their probe of its withdrawn Vioxx arthritis drug into a formal investigation.
ChevronTexaco Profit Nearly Doubles
NEW YORK (Reuters) - ChevronTexaco Corp. CVX.N, the No. 2 U.S. oil company, on Friday said quarterly profit nearly doubled, driven by record crude oil prices and soaring refining margins.
Boeing Signs $7.2 Bln China Deal for 7E7s
WASHINGTON (Reuters) - Boeing Co. BA.N signed a preliminary deal on Friday with China, worth about $7.2 billion, to sell 60 of its new wide-body aircraft to six Chinese airlines, and renamed the plane the 787 Dreamliner from 7E7.
UAL Mechanics Reject Labor Deal -Union
CHICAGO (Reuters) - The union representing mechanics at bankrupt United Airlines on Friday said its members overwhelmingly rejected proposed wage and benefit cuts and voted to call a strike if the court alters the current contract.
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