Wal Mart profits rise 22 percent despite weaker same store sales
Wal-Mart Stores Inc reported a 22 percent jump in fourth quarter profit to 4.63 billion dollars, 1.21 a share, while U S same store sales fell 1.6 percent. Full year profit rose 7 percent to 14.34 billion on 405.05 billion in sales. guidance for the new year remains cautious amid weak consumer demand.
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FDA warns on long acting asthma drugs safety limits
The FDA restricted use of Advair Symbicort Foradil and Serevent to patients not controlled by other medicines and only for the shortest time. LABA drugs can mask airway inflammation and increase hospitalization and some deaths, especially in children, prompting caution from physicians.
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Yahoo Microsoft partnership approved to challenge Google
Antitrust regulators in the United States and Europe approved Yahoo and Microsoft’s search and advertising partnership. Yahoo will outsource search to Microsoft with Bing technology and ads, aiming to complete the transition by end of 2010 with full migration by early 2012.
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Toyota chief to testify before Congress on recalls
Toyota president Akio Toyoda agreed to testify at a House hearing next week amid a widening safety probe into recalls. The Transportation Department opened a preliminary investigation into 487,000 Corolla and Corolla Matrix cars from 2009 10 over steering problems, with 168 complaints and eight crashes reported.
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