March 11, 2003
Todays headlinesInvestors brace for dental dispute
Talk of lawsuits, bidding wars is swirling following an unsolicited bid for a Tampa dental management service.
Union's effort to win carriers fails
The National Labor Relations Board rejects a union's bid to represent deliverers of the St. Petersburg Times.
Bristol-Myers restates revenues for 1999-2001
NEW YORK -- Bristol-Myers Squibb Co. wiped away $900-million in profits and $2.5-billion in revenues reported from 1999 through 2001 to correct for an artificial boost from aggressive sales incentives that created a massive inventory glut.
France's stance leaves markets in a trance
NEW YORK -- Stocks tumbled Monday, pulling the Dow Jones industrial average down more than 170 points, after France said it was prepared to vote against a U.N. resolution on Iraq.
Fed may cut rates again
WASHINGTON -- The Federal Reserve may soon be forced to cut interest rates again, driving them to the lowest level since Dwight Eisenhower was president, amid fears that the shaky economy is about to fall back into recession.
PROGRESS ENERGY SEEKS PSC RULING ON REFUND: Progress Energy Florida Inc. has asked the Florida Public Service Commission to rule on the St. Petersburg utility's dispute with the Office of Public Counsel over the amount it must refund customers as part of a rate-reduction settlement last year. The public counsel says Progress must refund $23.2-million, while the utility argues the proper refund is $4.998-million. In the meantime, Progress customers will receive refunds in their March bills based on the company's calculations. If the PSC eventually rules against Progress in favor of a larger refund, the company will pay the difference to customers later.
Latest business news
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