Business News

Bankrupt retailer Kmart Corp. said it has begun an internal investigation after receiving an anonymous letter claiming to be from employees that raised questions about its accounting.

American Airlines and British Airways walked away from a proposed alliance rather than give up takeoff and landing slots at London's Heathrow Airport.

Another large Hewlett-Packard Co. investor supports the technology giant's contentious plan to buy Compaq Computer Corporation.

ImClone Systems Inc.'s woes mounted Friday and its stock tumbled to the lowest level in a year after the company disclosed two federal agencies are investigating the biotechnology firm.

Compaq Computer Corp. on Friday raised its estimates for earnings during 2002, saying that demand is strong for equipment and technical help.

None of the tickets sold for Friday's $12 million drawing matched all five lotto numbers and the Big Money Ball. The next drawing will be Tuesday, Jan. 29.

Lane Home Furnishings has issued a recall for 6.5 million cedar chests made between 1912 and 1987 because the locks on the chests are not childproof.

A German judge has sued the Coca-Cola Company, claiming the soft drink was partly responsible for his diabetes because he drank a liter per day along with his chocolate bars.

Bank of America is heading for a courtroom to answer to a lawsuit filed by NationsBank shareholders seeking up to six billion dollars in damages from the coast-to-coast bank.

Amtrak lost $1.1 billion in 2001, the most in its 30-year history, and has not made progress toward meeting Congress' goal of self-sufficiency.