Wal Mart profits rise 22 percent in fourth quarter
Wal Mart Stores reports Q4 profit of 4.63 billion or 1.21 a share, up from 3.79 billion. Sales rose to 112.83 billion, while US same store sales fell 1.6 percent. Full year profit up 7 percent to 14.34 billion. sales at 405.05 billion, with US same store sales flat.
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FDA issues warning on asthma medicines
The FDA restricts use of long acting beta agonist inhalers Advair Symbicort Foradil and Serevent to patients not controlled by other meds and only for the shortest time with a second asthma control drug such as an inhaled corticosteroid. Studies link LABA use to higher hospitalization and some deaths, especially in children.
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Toyota chief to testify before Congress over recalls
Toyota president Akio Toyoda agreed to testify at a House hearing next week amid criticism of the response to a safety crisis. Lawmakers pressed for clarity on recalls affecting 8.5 million vehicles over gas pedal, floor mat, and braking issues.
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Yahoo Microsoft partnership approved by US and EU regulators
Antitrust authorities in the United States and Europe approve Yahoo and Microsoft search and advertising alliance aimed at challenging Google. Yahoo will outsource search to Microsoft with plans to transition by end of 2010 and complete all moves by early 2012, with Korea Taiwan and Japan pending.
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