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* Lottery systems operator Gtech Holdings Corp. reported quarterly earnings well above Wall Street forecasts and raised its profit outlook for the rest of the year. Second-quarter earnings more than doubled to $38.2 million, or 66 cents a share, driven by cost cuts, as revenue fell 6.6% to $211 million. Gtech shares rose more than 13% to $24.02.
* Motive Communications Inc. of Austin, Texas, has sued Peregrine Systems Inc., a once-highflying San Diego software company, accusing it of fraudulent accounting practices.
* Honeywell International Inc. settled claims by five auto mechanics who blamed their lung cancer on asbestos exposure, a lawyer for the plaintiffs said. Terms of the settlement were not disclosed.
* Cutter & Buck Inc. said it is being investigated by the Securities and Exchange Commission after the Seattle-based maker of golf clothing and other sportswear announced plans to restate two years of financial results.
* Kohlberg Kravis Roberts & Co. and the Ontario Teachers’ Pension Plan agreed to pay $1.9 billion in cash for BCE Inc.’s telephone directory unit as leveraged-buyout firms boost purchases from cash-strapped companies.
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