A consortium of investors disclosed that it intended to oust the board and possibly the top management of Take-Two Interactive Software.

CBS News replaced Rome Hartman with the long-time television news executive and producer, Rick Kaplan.

Environmental Defense has hired Perella Weinberg Partners to advise it, possibly signaling that it wants an even more powerful seat at the bargaining table with TXU.

An Internet start up backed by former executives of MTV and Nickelodeon plans to begin a series of video-oriented Web sites on niche topics.

U.S. Treasury Secretary Henry M. Paulson Jr. said that China needed to quicken the pace of its economic reforms.

Though the average hours at work have decreased in the last century, it doesn?t necessarily follow that leisure has increased.

Federal regulators ordered Fremont Investment and Loan to tighten its loan policies and operations to avoid future losses from defaults.

The Microsoft executive who had led the effort to close the gap on Google is leaving the company.

Lawmakers want to know why the agency let a student loan company keep $278 million in subsidies that an audit found improper.

US aerospace giant Boeing is preparing to begin assembly of its first 787 Dreamliner passenger jet.

Oil company Cairn Energy is to be demoted from the FTSE 100, following the latest reshuffle of the share index.

The City watchdog says nearly one in four takeover deals in 2005 showed signs of insider dealing.

Paul Secon loaded the family station wagon in 1949 with ceramics, drove to Manhattan and opened the first Pottery Barn store.

Jameson whiskey-to-Mumm Champagne producer Pernod Ricard reports a lower-than-expected rise in net profit.

Investors in the publisher of computer game Grand Theft Auto unveil plans to take control of the firm's board.

Carphone Warehouse drops its £3m sponsorship deal with Channel 4 show Big Brother.

Housebuilder Crest Nicholson agrees to be bought for £715m by a consortium of HBOS and property magnate Tom Hunter.

Reuters - General Motors Corp. Chief Executive Rick Wagoner said he does not expect a consolidation in the U.S. auto industry in the near term despite the intense pressures from fierce competition and excess production capacity, The Wall Street Journal reported.

Reuters - General Electric Co.'s consumer finance arm plans to close 60 percent of its personal loan branches in Japan and shed up to 400 employees amid an industrywide slump prompted by tighter regulation.

Reuters - Exxon Mobil Corp. plans to spend about $20 billion annually through 2011 and start production at 25 major oil and gas projects over the next three years, the world's largest publicly traded oil company said on Wednesday.

Reuters - 3M Co. has filed suits against Sony Corp. (6758.T), Lenovo Group Ltd. (0992.HK) and others, claiming infringement of lithium-ion battery-related patents, the diversified U.S. manufacturer said in a statement on its Web site.

AP - General Electric Co.'s finance company in Japan is scaling back operations, trimming about 15 percent of its work force here ahead of a new cap on borrowing rates that is forcing Japanese lenders to cut costs.

With the ?CBS Evening News With Katie Couric? languishing in the ratings, CBS has reportedly dismissed the program?s producer.

The boss of the US's biggest housebuilder warns that his firm will struggle amid a wider housing market slowdown.

Many foreign firms investing in China are to lose tax benefits under reforms proposed by the government.

Staff at retailer John Lewis are to share a £155m bonus pot after it reports a 27% rise in pre-tax profits.

Reuters - Private equity firm The Carlyle Group is mulling a bid for the generics business of Germany's Merck KGaA , a unit worth at least 4 billion euros ($5.3 billion), a source close to the process said.

Reuters - General Motors Corp. Chief Executive Rick Wagoner said he does not expect a consolidation in the U.S. auto industry in the near term despite the intense pressures from fierce competition and excess production capacity, The Wall Street Journal reported.

Reuters - Citigroup will buy Taiwan's Bank of Overseas Chinese (BOOC) 'very soon,' an executive of the Taiwan lender said on Thursday, in a deal media said would be worth US$425 million.

AP - Warehouse retailer Costco Wholesale Corp. said Thursday its second-quarter profit declined 16 percent as costs grew faster than revenue.

The European Central Bank raises its key interest rate to 3.75%, in a bid to keep inflation under control.

Wal-Mart says its February sales in the US missed both its own expectations and those of Wall Street analysts.

Almost four in 10 businesses do not employ a woman in a senior management position, a survey suggests.

The Bank of England's rate-setters keep interest rates unchanged at 5.25%.

Reuters - Retailers reported largely disappointing February sales results on Thursday, as cold temperatures and stormy weather hampered sales of spring merchandise.

Reuters - Private equity firm The Carlyle Group is mulling a bid for the generics business of Germany's Merck KGaA , a unit worth at least 4 billion euros ($5.3 billion), a source close to the process said.

Reuters - The number of U.S. workers claiming first-time jobless benefits fell 10,000 to a seasonally adjusted 328,000 last week, slightly lower than Wall Street expectations, a government report showed.

AP - The number of laid-off workers filing claims for unemployment benefits declined last week, providing a slight break from a recent rise in layoffs.

AP - The nation's retailers had a slow start to the spring season as unseasonably cold weather in February chilled demand for lightweight apparel and left merchants with disappointing sales. The slowing economy, particularly the weakening housing market, could challenge shoppers in the months ahead.

Seoul agreed to resume beef imports as negotiators try to beat the expiration date of President Bush?s ?fast-track? authority.

Robert Boldt, who managed the $19 billion endowment of the University of Texas, is planning to join Perella Weinberg Partners.

Leading members of the T&G union vote in favour of a merger with Amicus, creating the UK's largest union.

Reuters - U.S. retailers like Wal-Mart Stores Inc. and Federated Department Stores reported weak February sales on Thursday, saying the month's cold temperatures and stormy weather hampered results.

Reuters - Activist hedge fund manager David Einhorn quit New Century Financial Corp.'s board late Wednesday, two days after the subprime lender's stock fell 69 percent following disclosure of a federal criminal probe.

Reuters - Walgreen Co. illegally assigned thousands of African-American employees to low-performing stores and stores in black neighborhoods, according to a class-action lawsuit filed by the U.S. Equal Employment Opportunity Commission.

Reuters - Labor market data was mixed on Thursday ahead of the closely watched U.S. jobs report for February, due on Friday morning.

AP - The nation's retailers had a slow start to the spring season as unseasonably cold weather in February chilled demand for lightweight apparel and left merchants with disappointing sales. The slowing economy, particularly the weakening housing market, could challenge shoppers in the months ahead.

Seoul said it would resume American beef imports, but South Korean farmers still want rice to be excluded from any agreement.

Global warming will lead to heftier insurance claims in the long-term, insurer Swiss Re has warned.

Angola says it expects to see investors pour $50bn into its oil industry over the next six years.

Many foreign firms investing in China are to lose tax benefits under reforms proposed by the government.

Reuters - Retailers like Wal-Mart Stores Inc. and Federated Department Stores reported weak February sales on Thursday, saying the month's cold temperatures and stormy weather hampered results.

Reuters - Activist hedge fund manager David Einhorn quit New Century Financial Corp.'s board late Wednesday, two days after the subprime lender's stock fell 69 percent following disclosure of a federal criminal probe.

Reuters - CVS Corp. is likely to raise its $23.4 billion offer for Caremark Rx Inc. CMX.N>, but rival suitor Express Scripts Inc. may still have more money to throw into the bidding war, sources familiar with the situation said on Thursday.

Reuters - The Securities and Exchange Commission suspended trading on Thursday in the stocks of 35 small companies linked to spam e-mail campaigns urging small investors to buy shares.

Reuters - The net wealth of U.S. households rose to $55.63 trillion in the fourth quarter of 2006, and domestic debt grew at a faster rate than in the third quarter, a Federal Reserve report showed on Thursday.

Reuters - General Electric Co.'s consumer finance arm plans to close 60 percent of its manned personal loan branches in Japan and shed up to 400 employees amid an industrywide slump prompted by tighter regulation.

Two pieces of legislation are intended to protect private wealth and create a more coherent tax code.

Walgreen, the largest chemist in the US, is sued for allegedly discriminating against black workers.

Many foreign firms investing in China are to lose tax benefits under reforms proposed by the government.

Reuters - A federal jury on Thursday found that Vonage Holdings Corp. , an Internet phone service, infringed on three key patents owned by Verizon Communications Inc.

Reuters - CVS Corp. on Thursday again raised its takeover bid for Caremark Rx Inc. by sweetening a one-time dividend and said the new proposal was its 'best and final' offer.

AP - Warehouse retailer Costco Wholesale Corp. said Thursday its fiscal second-quarter profit dropped 16 percent, hurt in part by costs associated with revamping its consumer electronics return policy.

EU leaders are edging closer to a deal on binding targets for renewable energy use, sources in Brussels say.

Reuters - Mortgage lender New Century Financial Corp. , the subject of bankruptcy rumors on Thursday, said it had received $265 million in financing.

Reuters - A jury on Thursday ordered Internet phone provider Vonage Holdings Corp. to pay $58 million for infringing on three patents owned by Verizon Communications Inc. .

Reuters - CVS Corp. on Thursday again sweetened its $23.9 billion takeover bid for Caremark Rx Inc. with an increased dividend, calling the new proposal its 'best and final' offer for the pharmacy-benefits manager.

Almost 1,000 people can now lay claim to being members of the world's billionaire club, says Forbes magazine.

Angola says it expects to see investors pour $50bn into its oil industry over the next six years.

China unveils a new law to increase protection of private property rights - the first to cover individual assets.

Reuters - New Century Financial Corp. , whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it has received $265 million in financing, but stopped accepting loan applications after some lenders blocked its credit lines.

Reuters - CVS Corp. sweetened its $23.9 billion takeover bid for Caremark Rx Inc. on Thursday with an increased dividend, calling its newest proposal its 'best and final' offer for the pharmacy-benefits manager.

Reuters - Navistar International Corp. and Ford Motor Co. have agreed to try to resolve a contract dispute that led to a brief cutoff in diesel engine shipments for Ford's key F-Series Super Duty pickup trucks, the companies said on Thursday.

AP - The traditional excuse for disappointing retail sales in February — cold weather — may not be enough to explain sluggish results posted by U.S. merchants from Gap Inc. to AnnTaylor Corp. Unappealing fashions may also have something to do with it.

EU leaders reach a deal to cut carbon dioxide emissions but fail to achieve consensus on renewable energy targets.

Reuters - CVS Corp. sweetened its $23.9 billion takeover bid for Caremark Rx Inc. on Thursday with an increased dividend, calling its newest proposal its 'best and final' offer for the pharmacy-benefits manager.

Reuters - A jury dealt a blow to loss-making Internet phone provider Vonage Holdings Corp. on Thursday, ordering the company to pay $58 million plus royalties on future sales for infringing three patents owned by Verizon Communications Inc. .

Investor's Business Daily - Average 30-year rates fell to 6.14% from 6.18% in the prior week. The 15-year rate averaged 5.86% vs. 5.92%, while 1-year ARMs fell to 5.47% from 5.49%. Rates are at their lowest levels so far this year, Freddie Mac said, citing worries over last week's sell-off in stocks and concerns over the slowing U.S. economy.

The project has prompted criticism from those who worry that lawyers could skew new rules in favor of their clients.

Pemex, Mexico?s oil monopoly, is struggling, with falling production and reserves and no money to reverse the slide.

The meltdown of the subprime mortgage market is producing a who?s who of winners and losers among hedge funds.

Nathaniel Rothschild has parlayed his family?s name and private equity investments into a fortune that is approaching $1 billion.

Rick Kaplan, who was hired by CBS to turn around the ratings slide of its evening newscast with Katie Couric, has an opportunity to stage a comeback of his own.

Hoping to revive the warmth of the brand once evoked, Saturn is lending owners of its Aura model a Car of the Year trophy.

CVS delivered what it hoped would be a knockout punch in the fight to acquire Caremark, raising its offer to $26 billion.

The S.E.C. suspended trading in 35 stocks promoted in recent spam campaigns and said further investigation could lead to arrests.

A jury ruled that Vonage violated three Verizon patents, dealing a blow to a company already showing signs of stress.

Former President Bill Clinton and two other winners of the annual TED Prize, the centerpiece of the annual TED conference, have made public their projects.

New Century Financial stopped accepting new loan applications as it tried to negotiate terms with banks that had cut off its access to billions in funds.

The bank raised its benchmark interest rate to 3.75 percent, and made clear that it was willing to tighten credit further.

Homeowners increased their mortgage borrowing by almost $600 billion in the last quarter of 2006, an annual pace of 6.4 percent.

Harvey Miller, who made Weil, Gotshal a bankruptcy powerhouse, returns after a detour into banking.

Retailers reported weak February sales, saying the month?s cold temperatures and stormy weather hampered results.

Workers filing initial claims for jobless benefits fell 10,000 last week, to a seasonally adjusted 328,000, slightly lower than Wall Street expectations.

The Catalina Marketing Corporation agreed to be acquired by ValueAct Capital, in a deal that values the company at nearly $1.6 billion.

Wall Street extended its recovery after several stable sessions helped buttress investor sentiment and allay some concerns about the economy.

Ford said that all of its employees would receive a ?modest? bonus.

Gene A. O?Neal was charged with stealing millions from investors in a Ponzi scheme and using the money to pay for jewelry, luxury automobiles, and credit card and tax bills.

A federal court has ruled that Dell Inc. personal organizer products did not infringe a patent held by Alcatel-Lucent.

Second-quarter profit dropped 16 percent, hurt in part by costs associated with revamping its consumer electronics return policy.

Two former executives at Gateway were found liable on claims that they manipulated financial results to meet Wall Street expectations in 2000.

The home builder reported that it swung to a loss in the first quarter, continuing a trend of bad news in the housing market.

BMW, the German automaker, said its profit rose 28 percent in 2006, helped by strong car sales and a one-time gain from the sale of a stake in Rolls-Royce, the British aircraft engine manufacturer. The company, which is based in Berlin, said it was seeking approval from its board to buy back up to 10 percent of its stock and said it would increase dividends. Net profit climbed to 2.87 billion euros ($3.77 billion) from 2.24 billion euros the previous year.

The General Electric Company?s Japanese consumer lending unit said it would close 60 percent of its branches and cut 15 percent of its employees as part of a restructuring plan. The GE Consumer Finance Company, a Tokyo-based lender, will shut 73 of its 115 branches and 200 of its 1,342 unmanned outlets, the firm said. The company said it would also cut as many as 400 employees out of 2,600 by the end of June.

Japan?s machinery orders rose in January, the most in five months, signaling that capital spending will keep fueling the economy. Nongovernment machinery orders, excluding shipping and utilities, rose a seasonally adjusted 3.9 percent, to 1.09 trillion yen ($9.4 billion), from December, when they fell 0.7 percent, according to a Cabinet Office report.

Microsoft said it had signed its first agreement to license its technology, almost three years after European Union antitrust regulators ordered the software company to share data to increase competition. Microsoft said the deal, with Quest Software of California, was meant to comply with an antitrust order issued in March 2004 that demanded licensing of software that helps desktop computers communicate with servers. But the deal was met with skepticism from adversaries, who questioned how a company with a longstanding relationship with Microsoft could be considered a rival. The European Commission threatened Microsoft last week with fines as high as 3 million euros ($3.9 million) a day for failing to comply with the order.

Carrefour, the European retailer, posted a 3.3 percent rise in profit for 2006, with a weaker performance in its home market in France dampening robust growth elsewhere. The company said net profit was 1.86 billion euros ($2.44 billion), compared with 1.8 billion euros in 2005. Sales, which Carrefour reported in January, rose 3.4 percent, to 3.26 billion euros. The earnings report came the day after the chairman of Carrefour?s supervisory board, Luc Vandevelde, resigned in a shake-up.

John F. Baugh was the founder of the Sysco Corporation, a food and service supplier based in Houston.