Business News

Federated Department Stores says it will sell or shut down its Fingerhut online retailing unit, after enduring millions of dollars in losses.

Georgia Power Co., the state's No. 1 electric utility, hopes to get into the natural gas business by offering itself as a regulated alternative to the state's unregulated gas marketers.

Michigan's 5 percent average unemployment rate last year was its highest in six years, state officials said Wednesday.

The parent of American Airlines, the world's largest carrier, posted a record $798 million loss in the fourth quarter and Continental Airlines reported it lost $149 million in the same period as the airline industry was pummeled by the recession and f

Gulfstream Aerospace Corporation, a
wholly owned subsidiary of General Dynamics, will realign its aircraft completions work over the next three to six months, reducing its
aircraft completions centers from six to five.

Low-fare carrier AirTran Airways will begin offering round-trip, daily flights in March from Rochester to its biggest hubs in Baltimore and Atlanta.

Allstate Insurance Company has agreed to pay about $59 million to settle a class-action lawsuit filed by Georgia auto policy customers over the company's failure to pay for the diminished value of their vehicles after accidents.

An energy company is suing accounting firm Arthur Andersen, alleging fraud and negligence in the wake of the collapse of Enron Corp.

General Motors Corp. earned $255 million or 60 cents a share in the fourth quarter of 2001, beating Wall Street expectations, the automaker reported Wednesday.

Consumer prices edged down by 0.2 percent in December, capping a year in which inflation was at its lowest since 1998, the government reported Wednesday.