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Today’s headlines
Jobless rate dulls recovery forecast
The higher unemployment rate of 5.9 percent has analysts predicting a longer economic recovery.

Firm admits to inflated revenues
HOUSTON -- Reliant Resources Inc. restated its earnings Friday for a three-year period during which the company said it engaged in trades that artificially inflated its revenues by more than $7.8-billion.

Business digest
HP SETTLES CLASS-ACTION SUIT: Hewlett-Packard Co., the world's largest computermaker, agreed to pay $28.6-million to settle a class-action lawsuit filed by a former stockholder of its Compaq Computer Corp. unit. The lawsuit, filed by Mark Berger in federal court in Houston in April 1998, contended some Compaq executives artificially inflated the stock price by issuing misleading statements while selling their shares. Hewlett-Packard bought Houston-based Compaq in May for $18.9-billion. U.S. District Judge Vanessa Gilmore approved the preliminary settlement last week and scheduled a final hearing for Nov. 1, according to court documents. Former Compaq stockholders will have to apply for a share of the settlement.