Florida Supreme Court frees tobacco makers from huge punitive damages
The Florida Supreme Court quashed a $145 billion punitive award against major cigarette makers and upheld rulings removing class action status for up to 700 000 smokers. Altria and Reynolds shares rose while the decision preserves some individual suits. Affected plaintiffs include Mary Farnan and Angie Della Vecchia who had sued for damages from smoking begun in youth.
MENTIONED IN THIS ARTICLE
Tallahassee, Fla
Florida
U.S
R.J. Reynolds Tobacco Co
David Howard
Winston-Salem
N.C
Philip Morris USA
Kraft Foods Inc
Altria Group
New York Stock Exchange
Reynolds American Inc
Altria
Kraft Foods
Engle
Paulson to Be Sworn In as Treasury Secretary Monday
Henry M. Paulson will assume the role of secretary of the treasury on Monday. He will be sworn in by Chief Justice John Roberts in a brief Treasury Department ceremony attended by President Bush. Paulson, chief executive of Goldman Sachs, was chosen to replace John Snow as part of an effort to add star power to the administration's economic team.
MENTIONED IN THIS ARTICLE
Washington
Henry M. Paulson
RadioShack names CEO Julian Day to lead revival
RadioShack Corp named Julian Day chief executive hoping he can revive the Fort Worth retailer amid pressure from Best Buy and Circuit City. Analysts say the move could lift investor confidence as shares rose about 21 percent to 16.60 on the NYSE, near the 52 week low.
MENTIONED IN THIS ARTICLE
Dallas
RadioShack Corp
Julian Day
Kmart
Best Buy
Circuit City
Ulysses Yannas
Buckman, Buckman and Reid
Fort Worth
New York Stock Exchange
Oil prices ease after brief surge on tensions
Washington crude prices eased for a second day after briefly topping 75 dollars amid geopolitical tensions and rising demand. Natural gas futures fell to a two year low as domestic storage rose about 30 percent above the five year average. Analysts tie the pullback to profit taking after a nine day climb starting June 21.
MENTIONED IN THIS ARTICLE
Washington
Michael Guido
Societe Generale
Job growth disappoints in June economy slows
U S employers added 121000 jobs in June as wage gains fan inflation and the unemployment rate stays at 4.6 percent. The report shows moderating growth but firm gains in health care, manufacturing, accounting, computer design, and government work, with average monthly hires of 108000 for April to June.
MENTIONED IN THIS ARTICLE
Washington
U.S
Labor Department
Federal Reserve
Ben Bernanke
Fed
Richard Yamarone
Argus Research
Five editors resign from Santa Barbara News-Press protest
Five top editors and a columnist resign in protest at the Santa Barbara News-Press accusing owner Wendy McCaw of undermining credibility. Jerry Roberts George Foulsham Don Murphy Barney Brantingham and others depart over meddling and ethics concerns linked to Travis Armstrong’s dual roles as acting publisher and editorial page editor.
MENTIONED IN THIS ARTICLE
Los Angeles
Santa Barbara News-Press
Jerry Roberts
George Foulsham
Don Murphy
Business
Metro
Barney Brantingham
News-Press
Wendy McCaw
Travis Armstrong
Also Mentioned on This Page
Marta Lavandiera
Stanley Rosenblatt
Frank Amedeo
Ralph Della Vecchia
Mary Farnum
Dade Circuit Court
Miami
Treasury
RadioShack
Stephen
Odessa
Rom Bosworth
Wokss
Bosworth Company
The
Quality
Associated Press
Argon
Weise
Windowworldinc
S. CO. RD
Midland
Lisa Gallegos
Igallegas
Oaoa
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