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Business news in brief

In the Region

TSA official fired from Phila. airport

Transportation Safety Administration investigators have fired a TSA official from his Philadelphia International Airport duties for alleged theft from passengers' bags. The mid-level transpor-

tation security officer was caught stealing from checked baggage on Wednesday, said TSA spokeswoman Ann Davis. She declined to identify the TSA officer. Davis said the agency's Office of Inspections is conducting an investigation. "We're also cooperating with local and federal law enforcement," Davis said. "It will be up to them as to how this case proceeds from here. There is an ongoing investigation. The U.S. Attorney's Office has been aware of this since last week." The dismissed employee has not been charged with a crime. Since 2002, seven TSA officers have been terminated for theft at the airport, Davis said. - Linda Loyd

FDA seeks more info on inhaler

AstraZeneca P.L.C. said the U.S. Food and Drug Administration asked for more information on asthma drug Symbicort before the agency can allow the use of the inhaler in children. The FDA's complete response letter said information provided by the company was inadequate to establish the appropriate dose of the two components of Symbicort, budesonide, and formoterol, for patients 6 to 11 years old. AstraZeneca, which is based in London but has U.S. headquarters in Wilmington, said the letter will have no effect on current prescribing of the drug to patients 12 and older. The company said it is evaluating the complete response letter and plans to respond. In 2008, Symbicort was AstraZeneca's fourth-largest-selling product, with sales rising 22 percent to $2 billion. - Miriam Hill

Company offers DRIP discount

Harleysville National Corp. said share-

holders can now receive a 10 percent discount on shares that are acquired through the dividend reinvestment and stock purchase plan. DRIP participants can reinvest all or part of their dividends, or make additional investments, in amounts ranging from $100 to $100,000 per calendar quarter. Harleysville National Corp. is the holding company for Harleysville National Bank and its division, East Penn Bank, and has assets of $5.5 billion. Company shares closed up 8 cents at $6.83. - Suzette Parmley

Kenexa to boost presence in China

Kenexa Corp., Wayne, says it has formed an alliance with R&J Management Con-

sultants that expands Kenexa's presence in the Chinese market. The resulting entity will be known as Shanghai Kenexa and have more than 140 employees and six locations. Kenexa sought to partner with R&J Management Consultants, Shanghai, for its expertise in recruiting services and local leadership. - Inquirer Staff

Company, lenders agree to delay

Philadelphia Newspapers L.L.C. and its senior lenders agreed to postpone a hearing on financing for the bankrupt publisher of The Inquirer, the Philadelphia Daily News and Philly.com. Senior lenders had objected to the company's request to delay the hearing on debtor-in-possession financing from April 13 until the week of May 11, or sometime thereafter when it fit into the judge's schedule, but on Friday they agreed to the delay. A new date was not specified. One possibility is May 19, when an omnibus hearing is already scheduled. In another matter, U.S. Bankruptcy Judge Jean K. FitzSimon granted a temporary restraining order for pending lawsuits against the Philadelphia newspapers. The judge said she planned to schedule a preliminary injunction hearing after April 15. - Harold Brubaker

Elsewhere

Treasury eases program rules

The Treasury Department is trying to ensure broader participation from hedge funds and other private investors in its bad asset purchase program by loosening the criteria for those who want to take part. Treasury relaxed a requirement that companies have at least $10 billion in capital under management in order to participate, and emphasized that the program is open to small and women- and minority-owned firms. The department also said it's extending the application deadline for private fund managers by two weeks until April 24. - AP

Fund manager hit with civil charge

New York's attorney general filed civil fraud charges against a hedge fund manager accused of funneling $2.4 billion to Wall Street swindler Bernard Madoff without telling clients where their money was going. The complaint accuses J. Ezra Merkin, the former chairman of GMAC Financial Services, of concealing his links to Madoff and lying to investors about what he was doing with their money. Over the years, Merkin collected $470 million in fees and performance bonuses from his clients, the suit said. Merkin's attorney, Andrew Levander, called the lawsuit "hasty," "ill-conceived," and "without merit," and he denied that clients had been kept in the dark. - AP

Casinos president is let go

Mark Brown, the former president of the Sands Macau and Venetian Macau casinos, was let go by his employer, Las Vegas Sands Corp. "We don't really comment on personnel decisions, but I can confirm that Mark Brown is no longer with the company," Ron Reese, spokesman for the company, said. Brown - who held key jobs with Donald Trump's three casinos in Atlantic City for two decades - was recruited by Las Vegas Sands' CEO and chairman Sheldon Adelson three years ago to oversee the construction of and lead the world's largest casino, the Venetian Macau on the Cotai Strip in South China. But Macau gambling revenues have faltered, along with the global economy, and Brown became the latest executive casualty. Former Sands president William Weidner was ousted from the company last month, and Brad Stone, executive vice president and president of global operations and construction, resigned two weeks later. - Suzette Parmley

Sears, Kmart start Country Living line

A new line of housewares and furniture bearing the name of Country Living magazine will debut at Sears and Kmart stores this fall, executives said. The Country Living line could help fill a void when the retailer's long-standing agreement with Martha Stewart expires early next year. Kmart has been selling the Martha Stewart Everyday home line since 1997. - AP