Advertisement

Also

Share

* Securities and Exchange Commission chief accountant Robert Herdman resigned amid investigations of his vetting of former FBI Director William Webster’s fitness to head an accounting oversight board.

* U.S. regulators approved the first generic rival to Roche Holding’s acne drug Accutane. The Food and Drug Administration cleared Genpharm’s drug isotretinoin, the generic name for Accutane.

* Billionaire investor Warren Buffett added to his investments in distressed energy businesses as his Berkshire Hathaway Inc. joined Credit Suisse First Boston in a $1.3-billion loan to Texas utility CenterPoint Energy Inc. Berkshire also posted a third-quarter profit of $1.14 billion as its insurance units raised prices. Net income was $744 a share, contrasted with a loss of $679 million, or $445, a year ago, the company said.

Advertisement

* Digital video recorder makers SonicBlue Inc. and TiVo Inc. said they dropped patent infringement suits filed against each other. The firms said they were more interested in expanding the DVR technology market than fighting each other in court.

* Mortgage lender Countrywide Credit Industries Inc., based in Calabasas, said its lending volume rose 37% to $34.7 billion in October compared with the previous month as mortgage rates reached a 37-year low.

Advertisement