Walgreens to buy New York's Duane Reade Walgreen Co. agreed to buy New York City's biggest drugstore chain, privately held Duane Reade Holdings Inc., in a $623 million deal that would quadruple the number of Walgreens stores in New York, where until now it has been a bit player. Duane Reade's 257 stores will keep their name, which comes from two lower Manhattan streets, for now. Duane Reade's 2009 sales totaled about $1.8 billion; Walgreens had sales of $63.34 billion.
Campbell cuts sales outlook, sodium content Campbell Soup Co. lowered its fiscal 2010 sales forecast as competition heats up in the soup business and said it will cut sodium and revamp the packaging for some of its soups. The world's biggest soupmaker now anticipates full-year sales will rise 2.5 percent to 3.5 percent, down from its prior outlook for a 4 percent to 5 percent increase. Campbell also will tweak more than 60 percent of its condensed soups, reducing sodium in 23 of them by up to 45 percent.
Humana cutting 2,500 jobs, adding others Insurer Humana Inc. will cut about 2,500 positions as it adjusts to a smaller enrollment. Its Medicare enrollment slid 24 percent last year to 3.4 million people, while its commercial enrollment fell 6 percent to roughly the same amount. The Louisville company, however, said it will add 1,100 positions in growth areas like medical-cost containment and pharmacy management.
U.S. to look into Kodak patent complaint A federal agency that oversees trade disputes will investigate Eastman Kodak Co.'s patent-infringement complaint over digital-camera technology used in iPhones and BlackBerrys. The U.S. International Trade Commission in Washington will weigh whether to block imports of the smart phones after Kodak alleged Apple Inc.'s iPhone and Research in Motion Ltd.'s camera-enabled BlackBerry models infringe on a 2001 patent covering ways to preview digital images.
Name change planned for Maalox Total Relief The maker of Maalox, the Swiss manufacturer Novartis, has agreed to change the name of its most potent medication after federal health regulators said consumers have been mistaking it for a milder stomach reliever. The Food and Drug Administration warned consumers that Maalox Total Relief contains potent drug ingredients that can cause internal bleeding. The anti-diarrhea medication is often confused with traditional Maalox, which uses a gentler formula to neutralize stomach acid.
FAA to fine American Eagle $2.9 million The Federal Aviation Administration has proposed a $2.9 million penalty for American Airlines' regional carrier for safety violations. The FAA said American Eagle operated at least 1,178 flights with four jets that had main landing gear doors that weren't repaired according to standards set in a government safety order. The airline disputed the penalty and said safety was not compromised.
Google donates $2 million to Wikipedia Google Inc., the Internet's most profitable company, is giving $2 million to support Wikipedia, a volunteer-driven reference tool that has emerged as one of the Web's most-read sites. The donation matches the largest grant made so far to Wikimedia Foundation, the nonprofit group that oversees the 7-year-old Wikipedia. EBay founder Pierre Omidyar also donated $2 million to Wikimedia six months ago through one of his investment arms.
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