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By Times staff and wires
Published June 2, 2006

NYSE agrees to buy Euronext market

NYSE Group Inc. agreed Thursday to acquire Euronext NV for about $10-billion in cash and stock, creating the first trans-Atlantic securities market in a deal that would pressure rival exchanges to consolidate. Paris-based Euronext operates bourses in Paris, Amsterdam, Brussels and Lisbon, Portugal.

INSIDE: A U.S. tie might not be beneficial for European markets. COLUMN, 3D

Judge dismisses drug company damages

A jury decision in January ordering a California drug company to pay AlphaMed Pharmaceutical of Pinellas Park $78-million in damages has been dismissed by a federal judge in Miami. After three months of post-trial motions, U.S. District Judge Cecilia Altonaga ruled in favor of Arriva Pharmaceuticals Corp., dismissing the jury's recommendation. AlphaMed alleged that Arriva stole its trade secrets and tried to destroy its business. An attorney for AlphaMed said the company will appeal the judge's decision.

Companies to settle discrimination suits

Wal-Mart Stores Inc. and Rooms To Go will settle discrimination suits filed in the Tampa Bay area by the U.S. Equal Employment Opportunity Commission. Wal-Mart will pay $315,000 to settle two sexual harassment cases, one involving a former male supercenter department manager in Bradenton who allegedly made lewd comments, exposed himself to and fondled three female employees; one was forced to quit after she filed a complaint. The second case involved an assistant manager at the store. Rooms To Go will pay $275,000 to settle a suit charging the company subjected two workers at its Seffner clearance center to sexual and racial harassment by a supervisor.

Outback parent to lower earnings

OSI Restaurant Partners Inc. said it will lower 2006 earnings due to lower-than-expected revenues in April and May. Domestic same-store sales at the Tampa company's Outback Steakhouse chain fell 2.6 percent in the four weeks ended May 27, sales at Carrabba's Italian grill dropped 3.4 percent and sales at Bonefish Grill rose 0.3 percent. OSI will announce its revised forecast in late July.

AmSouth investors sue to stop merger

AmSouth Bancorp investors sued the bank to block its sale to Regions Financial Corp., saying the transaction is a "sweetheart deal" for everyone but shareholders. The investors claimed the sale dilutes their influence, cheats them financially and benefits the executives and directors who orchestrated the transaction.

[Last modified June 2, 2006, 05:58:19]