GLAXOSMITHKLINE BUYS RIVAL FOR $1.65 BILLION

LONDON - GlaxoSmithKline PLC will buy heart drug specialist Reliant Pharmaceuticals Inc. for $1.65 billion in cash, the company said Wednesday.

OIL FROM ALGEA? SCIENTISTS SEEK GREEN GLOD

The 16 big flasks of bubbling bright green liquids in Roger Ruan's lab at the University of Minnesota are part of a new boom in renewable energy research.
Driven by renewed investment as oil prices push $100 a barrel, Ruan and scores of scientists around the world are racing to turn algae into a commercially viable energy source.

CENTRAL BANK SAYS ECONOMY LOSING SPEED

The economy grew at a slower pace in the late fall as shoppers watched their pennies heading into the busy holiday season.
The Federal Reserve’s new snapshot, released Wednesday, suggested the strains from a severe housing slump and a painful credit crunch are affecting the behavior of individuals and businesses alike — making them somewhat more cautious.

AMERICAN REDCROSS PRESIDENT OUTSTED

Plagued by turmoil at the top, the American Red Cross ousted its president, Mark Everson, on Tuesday for engaging in a "personal relationship" with one of his subordinates. He took the challenging job just six months
The congressionally chartered charity, America's foremost emergency responder, has now had five leaders in the past six years including the interim chief named to fill in for Everson.

AFRICAN AMERICAN WOMEN: WHERE THEY STAND

Editor's note: Rehema's report airs on tonight's broadcast, in Part One of our series, African American Women: Where They Stand
For years, Black women have told their daughters they may have to take care of themselves without a husband so it's imperative that young women develop skills.

It is happening.

The numbers of Black women earning college degrees and taking leadership roles in the workplace are impressive.

And the huge achievement gap between African-American women and men is astounding. Black women are making gains in record numbers. It may suggest to some that Black women have gotten the empowerment message and have met all accomplishment goals. That would be only half right. According to research, there is still a lot of work to do.

Black women, like all female business owners, still lack business parity with men in some key areas.

Most of the companies owned by Black women are part-time ventures, often run from home at night and as a way to boost daytime pay as women care for children and/or aging parents. And according to the Center for Women's Business Research, as of 2006 just 5 percent of companies owned by Black women had employees, versus 10 percent for Black men. Annual revenue averaged $29,000 compared to $77,000 for Black men.

Still, Black women are moving ahead "... driving trends in the market place, and there are advertisers that are seriously starting to pay attention to her," says Angela Burt-Murray, editor-in- chief of Essence Magazine.

"I think this is the best time in our history to be a Black woman in America. By most conceivable measures we are excelling."

But she and others caution that as there is excitement about the advancements made by Black women, society should be equally concerned about how Black men are falling behind academically and economically. Plus, some caution against viewing those disappointments as affecting only African-Americans.

"I don't think that what you are seeing right now should be viewed in isolation. Researchers will tell you that the trends you see in the African-American community really are the precursor to what is going to happen in the general population," says Burt-Murray.

All the more reason to pay attention to what's happening to Black women and men and to understand that their story is not just an African-American story. Far from it.
This is an American story deserving everyone's concern.
Click here for the full section and to watch more videos on the series.

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HOW CLEAR IS THE CENTRAL BANKS CRYSTAL BALL?

When it comes to forecasting U.S. inflation, the Federal Reserve staff's crystal ball appears to be about as clear, or in some cases foggy, as the private sector's.
That's the conclusion of a pair of academics who compared Fed staff forecasts with those of private-sector economists over a period of three decades.

PERSONALIZED MEDICINE

Personalized medicine -- tailoring treatments to an individual's genetic profile -- has been one of the main dreams of the gene revolution, but putting it into practice is proving tough.
While advances are being made in a few areas, so-called pharmacogenetics will not change the commercial landscape for the bulk of pharmaceuticals for several years, drugmakers told the Reuters Health Summit in New York this week.
"Pharmacogenetics is not going to transform this market any time soon," said Jean-Pierre Garnier, chief executive of GlaxoSmithKline Plc (GSK.L: Quote, Profile, Research).

TV'S TOP EARNING PERSONALITIES

Whoever dubbed television the "small screen" had a very limited imagination. Television's top-earning personalities — from news anchor Katie Couric to late night funnyman David Letterman — earned a collective $723 million from June 2006 to June 2007, according to our exclusive Forbes TV 20.
Topping the list is Oprah Winfrey, who banked $260 million during that period, more than the take-home pay of chief executives like Michael Dell and Larry Ellison over the last fiscal year. (Both join Winfrey on the Forbes 400 list of the Richest Americans, though.)

GOOGLE TO HELP DRIVERS AT THE PUMP

Lost drivers soon will be able to Google for help at the pump. As part of a partnership to be announced Wednesday, the online search leader will dispense driving directions at thousands of gasoline pumps across the United States beginning early next month.
The pumps, made by Gilbarco Veeder-Root, include an Internet connection and will display Google's mapping service in color on a small screen.
Motorists will be able to scroll through several categories to find local landmarks, hotels, restaurants and hospitals selected by the gas station's owner.

REVERSIBLE ALTERNATIVE TO VASECTOMY TESTED

Chinese doctors have developed a new technique in birth control surgery for men that could be made available to the public next year, the China Daily said on Thursday.
The method involves making a small incision along the testicle into which doctors place a tiny tube.
"The tube functions as a filter that blocks sperm," Wu Weixiong, the director of Guangzhou Family Planning Technology Center, said was quoted as saying

FORTUNE 50 Most Powerful Women in Business 2007 2006 2005

And the winners are...
Women have come a long way (don't say 'baby') - and they're not slowing down. The credentials of this year's top 50, including 13 newcomers, are the strongest yet. (more)
1. Indra Nooyi, PepsiCo
6. Pat Woertz, ADM
2. Anne Mulcahy, Xerox
7. Susan Arnold, P&G
3. Meg Whitman, eBay
8. Oprah Winfrey, Harpo Inc.
4. Angela Braly, Wellpoint
9. Andrea Jung, Avon
5. Irene Rosenfeld, Kraft Foods
10. Brenda Barnes, Sara Lee
• See the Power 50

RECESION HINGES ON COPYING WITH CREDIT CRISIS

No, it's not just you — the U.S. economy really is bewildering. The government says gross domestic product expanded at an annual rate of nearly 4 percent in the third quarter, the fastest pace in a year and a half. The stock market is still up by 4 percent for this year, despite a sharp 3 percent drop on Nov. 7. On the other hand, growth in consumer borrowing slowed unexpectedly in September. Some economists argue that the U.S. is teetering on the brink of a recession, if it isn't in one already.

MY HEART IS WITH THE YANKEES - POSADA

Jorge Posada prefers to stay with the New York Yankees and believes he is ’really close’ to reaching a new deal with the team.

FORD AIM FOR FORMER GLORY WITH TAURUS DUO

The Ford Taurus was introduced in the 1980s as a family sedan offering the proposition that an affordable American car could provide sleek, Europe-inspired styling. It quickly became a hit, and between 1987 and 1992, it was the best-selling car in America.
Ford pulled the plug on the Taurus in 2005, and by the mid-’00s, the company found itself longing for the Taurus’ glory years.
So when Ford’s new president Alan Mulally landed at Ford’s Dearborn headquarters in September 2006, one of his first moves was to revive the Taurus name. Research showed that it was one of the names customers recognize, unlike that of its successor, the Ford Five Hundred.

MICHAEL TO HIS SON: DON'T BE LIKE MIKE

His last name is Jordan and his father’s first name is Michael, which means that when Jeff Jordan takes the court as a freshman with the University of Illinois basketball team, all eyes will be on him. But no matter what the expectations are of the fans and media, Michael Jordan doesn’t want his eldest child to be like Mike. Being like Jeff is all he asks.

“I want him to be his own person, you know?” Jordan, 44, said as he sat next to his son in a rare interview with TODAY co-host Matt Lauer that will air on Friday. “I want him to enjoy his life, whatever he chooses to be that, you know? If you play basketball, you're a doctor, you're a lawyer, whatever, I'm gonna support you with the love and every effort, every inch of my body.”

WHY DO SOME AGING BRAINS STAY SMART?

When aging hampers memory, some people's brains compensate to stay sharp. Now scientists want to know how those brains make do — in hopes of developing treatments to help everyone else keep up.....
The question is how to gird our brains against time's ravages, a question becoming critical as the population grays. If you're 65 today, odds are you'll live to 83. But improving health care means people in their 50s today may live another 40 years.

RESIGNATIONS HIGHLIGHT LACK OF BLACK C.E.O's

It’s getting lonelier at the top for black CEOs.
Only four blacks will be left running Fortune 500 companies after Stan O’Neal’s abrupt retirement from the top spot at Merrill Lynch & Co. last week and Time Warner Inc. Dick Parsons’ announcement Monday that he will retire at the end of the year.
That leaves Aylwin Lewis at Sears Holding Corp., Kenneth Chenault at American Express Co., Ronald Williams at Aetna Inc. and Clarence Otis at Darden Restaurants Inc. as the only black chief executives among this list of the nation’s largest companies.

FEARS INTENSIFY FOR PROLONGED TURMOIL

Fears intensify for prolonged turmoil
As big US and European banks come under pressure due to losses on US mortgage securities, fears are rising in the credit markets that the turbulence that has claimed the jobs of two of the biggest names on Wall Street could last well into next year

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INSEARCH OF A GOOGLE- VERIZON DEAL

Verizon Wireless and Google may be nearing an agreement that would place the Internet search engine in a prominent spot on the cellular operator's phones, but speculation that Verizon is set to introduce a new breed of phones developed by Google is overblown, say people familiar with the matter.
The companies have been speaking off and on over the past year about a deal to feature a Google (GOOG) search box on Verizon's (VZ) mobile Web service. But the talks have heated up recently and could produce an announcement over the next few weeks, these sources say. However, major sticking points remain over financial terms and the specific branding and placement of the Google search engine