Business & Finance
Adding to its legal woes, Tenet Healthcare Corp. is being investigated by the Florida Medicaid Fraud Control Unit. The nation's second-largest for-profit hospital chain said Friday that it received a subpoena June 6 seeking employee records along with physician, therapist, and other contracts dating back 11 years. The disclosure came the same week Tenet agreed to a $54 million settlement for performing allegedly unnecessary medical procedures in California.
Putting on hold Berkshire Hathaway's $1.7 billion acquisition of Clayton Homes Inc., a Tennessee appeals court issued a temporary stay Friday, until a lower court can review a legal challenge filed by the Denver Area Meat Cutters and Employers Pension Plan. The decision came as Berkshire Hathaway, billionaire investor Warren Buffett's holding company, reported net earnings of $2.23 billion in the second quarter, more than double its net for the same period in 2002.
PepsiCo's India unit petitioned the Delhi High Court to order an independent review of research that found high levels of pesticide residue in some of its products, a company official said Saturday. The New Delhi-based Center for Science and the Environment said some Pepsi and Coca-Cola drinks had pesticide levels more than 30 times above what European Union safety standards allow. Domestic brands also had high levels due to agricultural runoff in the nation's ground water, the group noted, but Coke and Pepsi dominate India's bottled soft-drink market. Both companies strongly dispute the findings.
EU regulators will review a $1.6 billion deal that gives British Sky Broadcasting (BSkyB) exclusive rights to live soccer matches by the Premier League for another three years, the Financial Times reported. In an effort to ease EU antitrust concerns, the league, which represents Britain's top 20 soccer clubs, had split live rights into four packages, but BSkyB won all of them. BSkyB is 35 percent owned by Rupert Murdoch's News Corp.