The Record, Bergen County, NJ

N.J. Briefs

Oil statements face review NEWARK - A federal judge has allowed a stock fraud lawsuit against Royal Dutch Shell to continue, finding that the shareholders had "adequately" shown reason for the court to examine their allegations concerning the company's restatements of its oil reserves. The class-action lawsuit questions whether the company's statements on its reserves, an important measure of future performance, purposely omitted or twisted important facts.

Diet-Pill Firm, Owner Settle Ephedra Lawsuit with Restitution, $750,000 Payment to N.J.

NEWARK - A Cedar Knolls company and its owner have agreed to pay $750,000 to New Jersey and to make restitution to consumers to settle charges their weight-loss and stop-smoking seminars were intended to sell ephedra-based pills and other dietary supplements. The settlement, announced Tuesday by the state Attorney General's Office and the Division of Consumer Affairs, ends a lawsuit filed nearly two years ago against Goen Technologies Corp. and related companies as well as their principal, Al...

N.J. Economy Takes a Hit in July ; State Loses 3,000 Jobs As Prices Soar

July was a tough month for New Jersey's economy. The region experienced higher inflation than the nation last month. And, while the United States added 207,000 jobs in July, New Jersey lost 3,000 jobs.

Demise of Able Labs Is Complete ; Fda Rejects Restart; Firm Is Up for Sale

Want to buy a troubled generic drug company? Head to Cranbury. The three-month collapse of Able Laboratories Inc. appeared complete Tuesday, when the company announced that it would sell its business because the U.S. Food and Drug Administration rejected its proposal to relaunch its products.

Retailers' Outlooks a Blend of Gloom and Boom

U.S. retailers reported mixed results, with Wal-Mart Stores Inc. reducing its annual profit forecast and Home Depot Inc. and J.C. Penney Co. raising their outlooks. Shares of Wal-Mart had their biggest decline in eight months. Wal-Mart, the world's largest retailer, said Tuesday that second- quarter profit rose 5.8 percent, the smallest quarterly gain in four years, hurt by record gasoline prices. Home Depot's income jumped 14 percent on sales of high-end products such as $900 gas grills. J.C...

Wal-Mart Stalls, Markets Tumble

NEW YORK - Stocks tumbled after Wal-Mart Stores Inc. said higher gasoline prices curbed customer spending. The news sent many retail stocks lower while government data showing a larger-than-expected jump in inflation also dampened investor enthusiasm. Although Wal-Mart beat Wall Street's profit forecasts by 2 cents per share, the company's profit gain was its smallest in four years and its revenues missed estimates.

Selling a House? Repair It, Clean It

You can make your home more appealing to prospective buyers without spending a lot. And you can inspect it yourself, say authors Shelley O'Hara and Nancy D. Lewis in "The Complete Idiot's Guide to Buying and Selling a Home." If you notice a defect, so will the buyer. *-Clean the house. Prospective buyers will probably open drawers and look in closets, so clear out clutter. Think of this as preparation for your move.

Vioxx Case Could Go to Jury Today

ANGLETON, Texas - Merck & Co. rested its case Tuesday and jurors heard the last bit of testimony in the nation's first civil trial related to the drug maker's painkiller Vioxx. State District Judge Ben Hardin told jurors they would hear closing arguments from attorneys on both sides today. The judge released jurors at midday Tuesday so lawyers could finalize the instructions Hardin will give the 12-member panel before deliberations begin.

A Few Words About Plastic ; Undergraduates Need Advice On Managing Credit

College freshmen all over America are packing up their extra- long sheets and mini-fridges, getting ready to move into dorms within a few weeks. They're going to face a lot of temptations, and I'm not just talking about partying and cutting class. I'm talking about credit cards.

A Lower-Cost Option to Blackberry May Be As Near As Your Cellphone

Q. Everywhere I go, I see people checking their e-mail on Black Berrys, Treos and Pocket PCs. Is it difficult or expensive to get that kind of device and service? Though every major wireless company sells handheld computers, they typically cost a hefty $500 or $600, and setting them up for wireless e-mail can be complex and expensive.

The Motley Fool ; First Data's Safety Tactic

Moats are great - ask anyone who lives in a castle. Modern corporate moats, like the kind that electronic commerce giant First Data (NYSE: FDC) has built around itself, are no less valuable, and First Data's recent second-quarter results give investors an inkling why. Revenue, at $2.6 billion, was up only 3 percent over last year, and reported operating profit was down 7 percent. While the payment services business (i.e., Western Union) was pretty solid, merchant services and card-issuing ser...

Fate of Fair Lawn Site Hazy As Heinz Seals Deal with Hp

H.-J. Heinz Co. completed its purchase of HP Foods Group on Tuesday, but the deal left in doubt the future of the company's North American headquarters in Fair Lawn and the 50 employees there. The $820 million deal with France's Groupe Danone S.A. gave Heinz the HP brand and Lea & Perrins - maker of the world's No. 1 Worcestershire sauce - as well as a license for Amoy Asian sauce in Europe.

The Record's North Jersey Marketbasket Survey for August 2005

The Record's monthly Marketbasket Survey tracks changes in the prices of some household goods and, services. The study is based on midmonth prices in North Jersey. Change is for the past 12 months , from August 2004., , , , , , , August, August, August, July, August, Pct.

National Briefs

Banks to settle Enron suit NEW YORK - Two banks agreed on Tuesday to pay at least $420 million to settle their parts of the "Megaclaims" lawsuit filed by Enron against 10 banks, alleging they "aided and abetted fraud" and could have prevented the energy trader's collapse.