Business News

Hundreds of people who bought Microsoft's hot new Xbox gaming console over the holidays received defective systems, and some said they had to wait weeks and endure shoddy customer service before their systems were fixed.

DaimlerChrysler AG said it expects to post an operating profit of about 1.2 billion euros ($1.08 billion) for 2001, sharply below the previous year.

Long-distance carrier AT&T Corp. announced it will cut another 5,000 jobs and take a related $1 billion fourth-quarter restructuring charge to cover the cost of those staff cuts.

Service Merchandise Co. Inc., a 42-year-old home-and-jewelry specialty chain that has operated under Chapter 11 bankruptcy protection since March 1999, announced Friday that it is going out of business.

Officials with Carmike Cinemas say the national movie theater chain should emerge from Chapter 11 bankruptcy reorganization within two weeks.

Mediterranean Shipping Company, the world's fourth-largest container line with a major presence in Charleston, South Carolina, will begin serving Savannah.

Willamette Industries said Friday that the board has rejected Weyerhaeuser Company's $6.1 billion takeover bid as inadequate -- and has cut off discussions about a buyout.

Mediterranean Shipping Company, the world's fourth-largest container line with a major presence in Charleston, South Carolina, will begin serving Savannah next month, causing some uneasiness on the Charleston waterfront.

Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.

Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.