The number of Americans filing new claims for unemployment benefits fell last week by an unexpected 24,000 to 287,000, a two-month low. That left claims at a level suggesting companies are continuing to scramble for workers.
Liberty Media Corp. is transferring its 21 percent stake in Gemstar-TV Guide International Inc. to News Corp. in exchange for shares in the media conglomerate. The deal announced Wednesday makes Liberty the largest shareholder in News Corp. after Rupert Murdoch and his family. It doubles News Corp.'s 20 percent stake in Gemstar-TV Guide, which puts out interactive programming guides as well as the weekly TV Guide magazine.
MGM Mirage is selling $66 million worth of assets that include property in Atlantic City, N.J., an unfinished golf course and some fine art to reduce debt, company officials announced Wednesday. MGM Mirage plans to sell 5.5 acres of undeveloped land on Atlantic City's boardwalk and the Cascata Golf Course in Boulder City, Nev., to Park Place Entertainment Corp.
Shares of music retailer K-tel International were delisted from the Nasdaq Stock Market on Wednesday, because the company no longer meets minimum requirements. Nasdaq guidelines specify that companies must be worth at least $50 million and have $15 million in stock on the market. The stock will continue to be traded over-the-counter.