Feds detail problems at J&J Tylenol plant

A dozen recent federal inspections of a Johnson & Johnson factory for nonprescription medicines show a host of violations that could affect the quality of the drugs. A new report on inspections at the Lancaster, Pa., factory indicates a pattern of ignoring rules for manufacturing and quality, failure to investigate problems that could affect the composition of products, carelessness in maintaining equipment, and shoddy record-keeping. J&J's McNeil unit has recalled tens of millions of bottles of pain reliever Tylenol and other medicines.

Foreclosure program not working, panel told

Government watchdogs told a Senate panel that the Obama administration's effort to help homeowners avoid foreclosure isn't working and that the Treasury Department has failed to fix the program. Special inspector general for the financial bailouts Neil Barofsky said the program has not "put an appreciable dent in foreclosure filings," during a Senate Finance Committee hearing on the $700 billion bank bailout. He also said the Treasury Department has ignored earlier demands that it set clearer goals for the program.

SEC proposes new limits on fund sales fees

The Securities and Exchange Commission proposed new limits on the sales fees that mutual fund companies charge investors on shares that are sold through brokers. The proposal, which will be available for a 90-day public comment period, would cap the amount that investors could pay to compensate fund brokers and sales forces. The proposal would also limit a fund's yearly assessments for marketing and service costs to no more than 0.25 percent of assets.

Facebook surpasses 500 million users

Facebook Inc. issued its own eye-popping status update: The world's most popular social networking site had surpassed 500 million users. And now, the Internet phenomenon that has transformed how the world communicates is eyeing another distinction -- connecting one out of every seven human beings on the planet. Six years after getting its start in a Harvard dorm room, Facebook said it was aiming to have 1 billion members, matching the reach of Internet search giant Google Inc.

Doctor groups ask insurers to improve ratings

The American Medical Association and 47 state medical groups are calling on health insurance giants to improve the accuracy of how physicians are rated for consumers enrolled in health plans. The doctor groups are concerned that patients could be choosing doctors based solely on the cost of the physician services and inaccurate information of the health plan, rather than the quality of care.

FROM NEWS SERVICES