IN BRIEF
HARRISBURG, Pa.
Vote clears way for card games at slot casinos in Pennsylvania
Table games such as poker and blackjack are in the cards for gamblers at Pennsylvania's slots casinos.
The state House of Representatives on Wednesday voted 103-to-89 in favor of a bill that allows table games.
Gov. Ed Rendell says he'll sign it into law.
The law lets the state's larger casinos install 250 tables for games such as poker, blackjack, craps, baccarat, roulette, while the smaller resorts casinos can have 50.
State gambling regulators say it'll be six months or longer before table games are up and running.
The proceeds are needed to help pay the state's bills as the recession continues to ravage state tax collections.
Oil prices close above $83 a barrel for first time since '08
Snow, ice and wind wreaked havoc on energy markets Wednesday, where a barrel of oil topped $83 a barrel for the first time since the fall of 2008.
Two fronts sent oil prices rocketing, however, the second being divisions among Federal Reserve policymakers over extending a program to bolster the U.S housing industry.
That sent the dollar sliding to three- week lows, and crude prices to a 15-month high.
According to the minutes released Wednesday from a closed-door Fed meeting in December, a "few members" believed that the $1.25 trillion program to buy mortgage securities from Fannie Mae and Freddie Mac might need to go on past the current cut off date of March 31.
Within five minutes of that information being released, crude prices jumped about a quarter to above $83.
Benchmark crude settled up $1.41 at $83.18 on the New York Mercantile Exchange, the highest close since Oct. 9, 2008.
NEW YORK
Morgan Stanley prevails in battle with Discover Financial
Morgan Stanley won a legal battle with former subsidiary Discover Financial Services over nearly $800 million Morgan Stanley says it was owed by the credit card company.
New York state Supreme Court Justice Barbara Kapnick ruled earlier this week that Discover Financial must pay Morgan Stanley a special dividend negotiated when Morgan Stanley spun off Discover in 2007.
The two agreed then to share money received from an antitrust lawsuit Discover had pending against Visa Inc. and MasterCard Inc. Discover settled the antitrust case for $2.75 billion, of which Morgan Stanley was entitled to $1.2 billion.
However, Discover declined to pay Morgan Stanley, claiming it interfered in the Visa and MasterCard settlement. Morgan Stanley, which is based in New York, then sued Discover in a New York court for breach of contract.
DETROIT
General Motors dealers may recover their lost franchises
Hundreds of the 1,350 General Motors Co. dealers who lost their franchises last year could see them restored in a congressionally mandated arbitration process that begins later this month, the company's interim CEO said Wednesday.
CEO and Chairman Ed Whitacre Jr. also said that new Chief Financial Officer Chris Liddell is a candidate for the CEO post. And Whitacre said he's not confident about selling the Swedish Saab brand.
In a talk with reporters at GM's Detroit headquarters, Whitacre also predicted that GM would be profitable this year, but he said that was dependent on the economy and other factors.
LONDON
Some Cadbury investors accept takeover bid, Kraft Foods says
Kraft Foods Inc. announced Wednesday that holders of 1.5 percent of the outstanding stock in chocolate and gum maker Cadbury PLC have so far accepted its hostile takeover offer, but the U.S. company may gain more support as its offer price moves closer to Cadbury's market value.
The cash-and-stock offer's value rose closer Tuesday as Swiss food company Nestle said it would not make an offer for Cadbury, Kraft offered more cash in an alternative -- but no higher -- offer, and billionaire Warren Buffett, Kraft's biggest shareholder, warned against offering any more stock to sweeten the offer.
The Wall Street Journal reported Wednesday that people familiar with the matter said that Cadbury board members have held talks recently with The Hershey Co.'s board members to encourage a rival offer. And Cadbury officials have said in the past that they see Hershey as a better fit than Kraft.
WASHINGTON
Justice Department to examine Comcast bid for NBC stake
The Justice Department said Wednesday that it will be the agency to scrutinize Comcast Corp.'s plans to buy a controlling stake in NBC Universal's broadcast networks, cable TV channels and movie studios.
The announcement settles questions about whether the federal antitrust review of the deal, announced late last year, will be handled by Justice or the Federal Trade Commission.
Even though federal regulators are expected to approve the transaction, many analysts and watchdogs believe they will attach significant conditions because a merger would give the nation's largest cable TV operator control of a vast media empire as well.
Comcast is seeking to buy a 51 percent stake in NBC Universal from General Electric Co.
WASHINGTON
Hi, this is the IRS; for tax help, press 1, and expect to hold
Need help with your taxes? Good luck reaching the IRS. Three out of 10 people who call the toll-free help line this tax season won't get through to a human being -- and that's if the agency meets its goals for service.
Callers lucky enough to get through will have to wait on hold an average of nearly 12 minutes, a level of service deemed unacceptable in a report issued Wednesday by National Taxpayer Advocate Nina Olson.
The IRS said it has received many calls the past two years from taxpayers with questions about temporary tax breaks passed by Congress.
Some callers could get busy signals while others will abandon calls after being told the wait time. Others may be prompted to visit the IRS Web site, or have their questions answered by the automated system.
The agency's goal is to connect 71 percent of callers to a real person, down from a recent high of 87 percent in 2004.
