said Friday that the Food and Drug Administration refused to accept the application for approval of cancer drug Erbitux, which the company filed along with
on Oct. 31. The FDA's decision
raises serious questions about when the companies could actually get the drug to the marketplace.
America West Airlines
said Friday that it received approval for $380 million in federal loan guarantees under the Air Transportation Safety and Stabilization Act, provided the company meets two conditions the government has set. The guarantees will enable America West to close a $445 million loan and complete arrangements for more than $600 million in concessions, financing and financial assistance.
said Softbank CEO Masayoshi Son has resigned from the company's board to focus his efforts on Softbank and Nihon Ariba.
said Friday that the company received a waiver for potential violations of aspects of its credit agreement with a group of banks. The pact with the banks waives certain financial covenants through Feb. 13, but the company must maintain certain unspecified cash balances in order to keep the waiver in force.
Database software giant
said on Friday that it would cut 400 to 800 jobs, mainly in its North American consulting and sales operations. The cuts represent about 1% to 2% of its worldwide workforce of around 42,000.