- The Washington Times - Saturday, September 15, 2007


U USEC Inc. of Bethesda, the nation’s only company that enriches uranium for nuclear power plants, says it has begun testing a key process at its demonstration facility in southern Ohio and will meet a federal target on the program. USEC shares fell more than 7 percent, to $12.19, however, after the company said it may sell stock and debt to fund further development.

U Time Warner, the world’s largest media company, was cut to “neutral” from “buy” by UBS, which cited lower-than-expected second-quarter earnings at the AOL Internet unit, in Sterling, Va., and at the cable division.


U TD Ameritrade, the third-biggest online brokerage, said computer hackers stole e-mail addresses and contact information for as many as 6.3 million clients and flooded them with stock tips. No accounts were affected, TD Ameritrade said.

U Kohlberg Kravis Roberts & Co.’s bankers, struggling to find investors to finance the purchase of First Data Corp., reduced the loan sale to $5 billion and are offering the debt at a discount, sources said.

U Bank of America Corp. said it has received approval from the Federal Reserve to complete its $21 billion purchase of Chicago’s LaSalle Bank. The decision is the final regulatory approval needed for the transaction, which is expected to close in early October. The purchase will create a leading banking franchise in Chicago and Michigan.

U Beazer Homes asked a court to order a bondholders group to withdraw default notices sent after the company failed to file financial reports. Beazer also asked the federal court in Atlanta to stop the trustee for its debt investors from taking steps to accelerate debt payments.

U New Jersey home builder Kara Homes won court approval for a plan to reorganize by selling its assets to a hedge fund for about $72 million over the protests of the company’s founder and owner.

U The agricultural companies Monsanto Co. and Dow AgroSciences said they will team to develop and market a new corn seed more resistant to bugs and weeds.

U Oracle Corp., the world’s third-largest software maker, said it paid Chief Executive Larry Ellison $35 million in fiscal 2007. The amount included a $1 million salary and $24 million in stock options. Mr. Ellison also received an $8.37 million bonus and $1.72 million in perks including insurance, home security and family members’ trips on the company plane.


U Exxon Mobil, which filed for arbitration against Venezuela Sept. 6, was sent a bill for $8.23 million in back taxes and fines in the South American country. The bill included reputed overpaid tax refunds and fines for reputedly unpaid value-added taxes from the Cerro Negro heavy-oil project dating from 2001 through March 2005.

U Facing a U.S. legal assault, China fired back by filing a World Trade Organization complaint against antidumping duties that the United States applies on Chinese paper imports.

U Cadbury Schweppes PLC rejected a private-equity bid for its U.S. drinks arm due to unfavorable financing conditions, a source said. The bid for brands including 7-Up, Dr Pepper and Snapple was thought to be worth as much as $14 billion and came from a consortium including Blackstone Group and Kohlberg Kravis Roberts & Co.

From wire dispatches and staff reports

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