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Johnson & Johnson pays $1B for Elan stake
4:04PM CT
TRENTON, N.J. (AP) - Johnson & Johnson, making a big jump into the risky but potentially lucrative field of Alzheimer's disease, is taking a major stake in Irish biopharmaceutical company Elan Corp., investing up to $1.5 billion initially.
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Exelon raises hostile bid for NRG to $8 billion
3:21PM CT
COLUMBUS, Ohio (AP) - Exelon Corp. on Thursday sweetened its hostile takeover bid for NRG Energy Inc. by 12 percent to $8 billion in stock, citing newly identified cost savings along with NRG's recent deal for Reliant Energy's Texas retail business.
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Feds seize Madoff penthouse, wife leaves
5:39PM CT
NEW YORK (AP) - Federal marshals seized disgraced financier Bernard Madoff's $7 million Manhattan penthouse on Thursday and forced his wife to move out and leave her possessions behind, including a fur coat she asked to take with her, an official told The Associated Press.
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7 more banks fail as FDIC mulls rules for sales
6:01PM CT
WASHINGTON (AP) - Six Illinois banks and one bank in Texas were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks.
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GM waits for judge's ruling on sale plan
4:28PM CT
NEW YORK (AP) - The judge in the General Motors Corp. bankruptcy case adjourned a three-day hearing without indicating when he will rule on the company's plan to sell its good assets to a new company.
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ECB keeps interest rate at 1 pct
10:47AM CT
LUXEMBOURG (AP) - The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its "spectacular" infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy.
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