Business News

Royal Philips Electronics NV said Wednesday it struck a five-year deal to supply components to Dell Computer Corp., giving Europe's largest consumer electronics maker an important boost in the United States.

The state has delayed awarding of a telecommunications contract until after the November election - cutting the cost from $2 billion to $1.87 billion because of the budget shortfall.

A businessman who said First Union Bank started a $2.4 billion business with his ideas was awarded $276 million by a jury, in one of the largest legal judgments in Maryland history.

Alan Greenspan, long a supporter of less government regulation, says the marketplace already is correcting the worst abuses exposed by the collapse of Enron Corp.

The founder and former head of Waste Management Inc. denies government allegations that he and five former top executives of the giant trash hauler misled stockholders for years -- or that the company's auditor, embattled Arthur Andersen LLP, inaccura

At least nine revenue-strapped states have recently looked at "sin taxes" to help balance the budget.

A utility company that offers its customers clean energy inadvertently referred Pennsylvania callers to a risque phone number.

Arthur Andersen LLP chief executive Joseph Berardino resigned Tuesday, succumbing to increasing pressure as a result of Anderson's role in the Enron scandal.

Regional jetmaker Embraer SA on Tuesday announced a 70 percent rise in net profits to 1.1 billion reals ($468 million) in 2001, as a weaker local currency helped offset the crisis miring the aviation industry since the Sept. 11 terrorist attacks.

American Skiing Co. withdrew from a deal to sell the Steamboat Ski Area on Tuesday and agreed instead to sell Heavenly Ski Resort in Lake Tahoe, Calif., to Vail Resorts for $102 million.