
Business Digest
Published Thursday July 2nd, 2009

FDa requires smoking cessation drug to carry stronger warning.
NEW YORK - The U.S. Food and Drug Administration will require two smoking-cessation drugs, Chantix and Zyban, to carry the agency's strongest safety warning over side effects including depression and suicidal thoughts.
The new requirement is based on reports of people experiencing unusual changes in behaviour, becoming depressed, or having suicidal thoughts while taking the drugs.
The antidepressant Wellbutrin, which has the same active ingredient as GlaxoSmithKline PLC's Zyban, already carries such a warning.
The FDA is also requiring an additional study on Chantix and Zyban to determine the extent of the side effects.
British airways calls in mediator to help break deadlock on union talks.
LONDON - British Airways PLC called in a government- backed mediator on Wednesday to help hammer out a deal with unions over thousands of job cuts and pay freeze as the airline seeks to avoid a damaging strike.
The airline and unions representing flight attendants and ground staff have failed to agree on a series of cost-cutting measures that the carrier argues are necessary to cope with a downturn in demand cause by the global recession, including more than 3,500 job losses.
British Airways said it had "not proved possible" to reach a deal by a company set deadline of Tuesday.
Oil rises above uS$71 in europe as u.S. crude inventories decrease.
Oil prices climbed over $71 a barrel Wednesday as a drop in U.S. crude inventories suggested demand might be picking up.
By mid-afternoon in Europe, benchmark crude for August delivery was up $1.61 to $71.50 a barrel in electronic trading on the New York Mercantile Exchange.
On Tuesday, it dipped $1.60 to settle at $69.89.
U.S. inventories dropped by 6.8 million barrels last week, the American Petroleum Institute said Tuesday.
Investors will be watching for inventory data from the Energy Department's Energy Information Administration on Wednesday for more signs crude demand may be growing.
Crude fell Tuesday after the New York-based Conference Board said its consumer confidence index dropped in June after gaining the last three months, a downbeat sign for the overall economy.
Sources: The associated Press, The Canadian Press


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