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CPSC chief: Agency moved too slowly on crib safety
From Associated Press
November 24, 2009 12:33 PM EST

WASHINGTON - A day after the recall of 2.1 million cribs linked to four suffocations, the head of the Consumer Product Safety Commission conceded the agency "hasn't been acting as quickly as it should."

WATERBURY, Vt. - Green Mountain Coffee Roasters sweetened its offer for Diedrich Coffee by $2 per share on Tuesday, matching a rival bid from Peet's Coffee & Tea.

DETROIT - General Motors Co. says a Swedish specialty car maker has ended plans to buy GM's Saab brand. CEO Fritz Henderson says the Detroit automaker is disappointed in the decision by Koenigsegg Group AB and will take the next several days to figure out what to do.

ALBANY, N.Y. - New York's top court ruled Tuesday that the state can use eminent domain to force homeowners and businesses to sell their properties for a massive development in Brooklyn that includes a new arena for the New Jersey Nets.

WASHINGTON - Federal officials are fining three airlines a total of $175,000 for their role in the stranding of passengers overnight on an airport tarmac in Rochester, Minn., this summer.

WASHINGTON - The U.S. economy is growing modestly, with consumers too wary about spending to invigorate the recovery. That picture emerged Tuesday from reports on the nation's economy and the confidence of consumers, who power 70 percent of it.

NEW YORK - Stocks retreated from 13-month highs after a lackluster reading on consumer confidence and a report showing slower economic growth sapped the market's optimism.

NEW YORK - Americans' confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the traditional start of the holiday shopping season amid a weak job market, according to a monthly survey.

TEMPE, Arizona - US Airways said Tuesday it will delay delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength.

WASHINGTON - The apparent end of the recession and stabilizing financial markets have not cured the banking industry, the Federal Deposit Insurance Corp.

NEW YORK - Medtronic reported a surprising 59 percent boost in second-quarter profit Tuesday, as increased sales of implantable heart devices defied reports of weakening demand from competitors.

PITTSBURGH - H.J. Heinz Co.'s second-quarter profit dropped 16 percent from last year, when the company's results were boosted by currency shifts.

NEW YORK - Stocks were slightly lower Tuesday morning after the government said the U.S. economy grew at a slower pace in the third quarter than originally reported.

LITTLE ROCK, Ark. - Phone company Windstream is buying Iowa Telecommunications Services for $1.1 billion in cash and stock. Windstream Corp.

WASHINGTON - Home prices rose slightly in September, the fourth straight monthly increase and a clear sign the U.S. housing market recovery is continuing.

NEW YORK - Barnes & Noble on Tuesday posted a loss in the fiscal second quarter and lowered its guidance due to expected weak holiday sales and higher-than-expected costs to ramp up production of its electronic book reader, the Nook.

ANN ARBOR, Mich. - Borders Group says it lost money for the third straight quarter as sales at its bookstores continued to decline, but the loss was smaller than a year ago.

WASHINGTON - Home prices rose slightly in September, the fourth straight monthly increase and a clear sign the housing market recovery is continuing.

NEW YORK - Stock futures are pointing to a mixed opening Tuesday after a new report showed the economy grew at a slower pace in the third quarter than first anticipated.

STUART, Fla. - Former French intelligence officer Herve Jaubert believed he was essentially being held captive in Dubai when his passport was confiscated by authorities amid a dispute with his employer, a powerful government-run conglomerate.

NEW YORK - Citigroup Inc. said Tuesday it is selling its Diners Club North American franchise to BMO Financial Group as it continues to shed noncore assets and streamline operations.

LONDON - Pharmaceuticals company GlaxoSmithKline PLC said Tuesday it has advised medical staff in Canada to not use one batch of swine flu vaccines in case they trigger life-threatening allergies.

WASHINGTON - The head of the Consumer Product Safety Commission concedes it has not been "acting as quickly as it should" on crib safety problems.

DUESSELDORF, Germany - General Motors Co. will present to unions on Wednesday its restructuring plan for the Opel unit, with up to 9,500 jobs expected to be cut, the carmaker's top official in Europe said Tuesday.

NEW YORK - BMO Financial Group said Tuesday that it will buy the Diners Club North American franchise from Citigroup Inc., more than doubling its corporate card business.