Bank of America CEO subpoenaed in New York

Bank of America CEO subpoenaed in New York Bank of America Corp. Chief Executive Ken Lewis received a subpoena from the New York state attorney general's office in connection with Merrill Lynch's payment of employee bonuses before the companies combined Jan. 1. Former Merrill CEO John Thain, subpoenaed last month, also was questioned by investigators Thursday about bonuses paid in late December, days before Bank of America completed its purchase of New York-based Merrill, according to a person who requested anonymity because of the ongoing nature of the matter.

Buyout of National Beef by JBS called off A beef industry buyout that regulators were trying to block on antitrust grounds has been called off. National Beef Packing Co., the fourth-largest U.S. beef processor, said Friday that its sale to Brazilian beef producer JBS S.A. has been dropped. JBS, the world's largest beef packer and the third-largest in the United States, said last March that it would acquire Kansas City, Mo.-based National.

Saab files for bankruptcy protection Saab, the Swedish automaker owned by General Motors, filed for bankruptcy protection Friday and asked the Swedish government for help in making it an independent car company again. But it was unclear whether the government would step in to help Saab. Earlier this week, GM said it wanted to cut Saab loose by 2010.

Fiat changes mind about shuttering factories Fiat said Friday it has canceled factory shutdowns affecting more than 8,000 workers, saying the Italian government's incentive program to help boost the auto industry has helped market conditions.