Merck ordered to pay $9M for Vioxx case ruling
A New Jersey jury awarded $9 million in punitive damages to John McCarthy and wife Irma after finding Merck knowingly withheld information on Vioxx risks from regulators. The panel had already granted $4.5 million previously and found failures to warn and consumer fraud. Merck plans appeal as stock traded volatile after the verdict.
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Oil dips after brief runup above 69 a barrel
Oil prices slipped on Tuesday after a short rally above 69 a barrel as traders sold futures. May crude traded around 68.45 on the New York Mercantile Exchange, with gasoline futures down slightly though well above year-ago levels. Analysts cited supply worries in Nigeria and Iran as factors amid high U.S. inventories and rising MTBE use.
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New York
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U.S
Ford recalls 19140 Mustangs over stuck gas pedal risk
Ford Motor Company recalls 19,140 2003 2004 Mustang sports cars after reports pedal snag on carpet could trap accelerator during heavy throttle. NHTSA opened the probe in July 2008 following 11 complaints including two crashes and one injury.
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Tax filing changes eyed to curb paid preparers
Senators Grassley and Baucus press the IRS to allow taxpayers to file electronically directly without paid preparers or software fees. FCC chair Martin cites concerns over family friendly programming tiers as industry faces potential pressure on decency issues from cable operators.
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