In the Region

FDA panel recommends Pfizer drug

A panel of federal health experts voted in favor of an updated version of Pfizer Inc.'s best-selling anti-infection vaccine for infants and toddlers. The full Food and Drug Administration must still approve the vaccine, but it usually follows panel decisions. Sales for the current version of Prevnar have surpassed $2.7 billion and drove Pfizer's recent $64.4 billion purchase of Wyeth. The new vaccine reduces risk of infection from 13 strains of the Streptococcus pneumoniae bacteria, which cause thousands of cases of ear infection, meningitis, and pneumonia each year. Pfizer's studies failed to meet predetermined goals for three of those strains. - Miriam Hill

Hershey confirms look at Cadbury

Pennsylvania-based Hershey Co. and Italian candy-maker Ferrero International S.A. confirmed they were considering a possible offer for British confectioner Cadbury P.L.C., which is facing a $16.4 billion hostile takeover bid by Kraft Foods Inc. Hershey "is reviewing its options," though "there can be no assurance that any proposal or offer from Hershey will be forthcoming," the company said in an announcement. Ferrero posted a similar statement. Some analysts consider the pair a dark horse. Kraft said its next step was to send an offer to Cadbury shareholders by Dec. 7. - AP

N.J. ends unemployment increases

After rising for 21 straight months, the jobless rate in New Jersey edged down 0.1 of a percentage point last month, the state Department of Labor and Workforce Development reported. The drop, to 9.7 percent of the workforce, contrasts with an increase nationally in October to 10.2 percent. - Paul Schweizer

Stimulus funds for job banks

Federal green-jobs grants - totaling $1.4 million for Pennsylvania and $1.25 million for New Jersey - were announced by U.S. Secretary of Labor Hilda L. Solis. The bulk of the funds are geared toward helping states build data banks on clean-energy jobs accessible to companies and those looking for work. Solis announced nearly $55 million in grants throughout the country, as authorized by the American Recovery and Reinvestment Act of 2009. - Diane Mastrull

Aqua unit issues $75 million in bonds

Aqua America Inc. said its Pennsylvania subsidiary issued $75 million in tax-exempt bonds. One $13 million series has an annual yield of 4.9 percent, the Bryn Mawr water utility said. Another series, for $62 million, has a yield of 4.875 percent. - Harold Brubaker

AstraZeneca may face 6,000 trials

AstraZeneca P.L.C., which has U.S. headquarters near Wilmington, may face as many as 6,000 trials of lawsuits claiming its antipsychotic drug Seroquel causes diabetes. U.S. District Judge Anne Conway in Orlando said she would urge a panel of judges to send the cases back to their home courts for possible trials. - Bloomberg News

Resorts casino notes its dire straits

A day before New Jersey's oldest casino is expected to hand over the keys to its lenders, Resorts Atlantic City laid out just how bad its financial condition was. In documents released by the state Casino Control Commission, Resorts said it doubted its ability to continue to operate. Resorts said it owed nearly $337 million more than it had. Today the commission is expected to approve a deal that would transfer ownership to the lenders. Colony Capital L.L.C. will give up its interest in the casino to co-owner Nicholas Ribis. - AP

Dallas firm buys Thompson Mahogany

A Dallas company bought Thompson Mahogany Co., a Philadelphia hardwoods importer that traces its roots to a cabinet and furniture manufacturer founded here in 1843, the companies said. The buyer, East Teak Fine Hardwoods Inc., did not disclose the price. Thompson Mahogany, which employs 22, is expected to maintain its Philadelphia operations. Thompson's imported woods, which are shipped into the ports of Camden and Philadelphia, are used for furniture, flooring, outdoor decks, and boardwalks. - Harold Brubaker

Elsewhere

Lehman creditor claims hit $824B

Lehman Bros. Holdings Inc.'s creditors filed $824 billion in bankruptcy claims against the collapsed investment bank, and the total may reach $1 trillion, chief executive officer Bryan Marsal said. The company will probably need U.S. Bankruptcy Judge James Peck to referee disputes over the actual value of some of the more than 64,000 claims, Marsal, the turnaround expert from Alvarez & Marsal Inc., said at a hearing in New York. - Bloomberg News

Fed audit sought following AIG report

A group of House Democrats is stepping up demands for greater transparency from the Federal Reserve after reports that the Fed mishandled the bailout of insurance giant American International Group Inc. The group wants to allow congressional audits of the Fed as part of financial rules being debated by the House Financial Services and Senate Banking Committees, according to a letter to the committees' chairmen. The letter followed sharp criticism Monday of the Federal Reserve Bank of New York and Federal Reserve in a report from Neil Barofsky, the special inspector general for the $700 billion financial-bailout fund. The government has committed up to $180 billion to rescue AIG. Few expect all the money to be recovered.
- AP

Money market yields unchanged

The average seven-day yield on taxable money market funds was 0.04 percent this week, unchanged from last week, according to iMoneyNet Inc. A seven-day yield is an annual yield that is based on the preceding seven days' level of income by the fund. The average yield on tax-free funds was 0.04 percent this week, also unchanged from last week. - Paul Schweizer

Delta in $1 billion bid for Japan Air

Delta Air Lines Inc. upped the ante in the battle for Japan Airlines Corp., offering to provide $1 billion from Delta and its SkyTeam airline alliance. Delta is seeking to lure JAL from American Airlines and the rival Oneworld alliance. Delta president Ed Bastian in Tokyo laid out of a package that included a $500 million investment in financially troubled JAL, $300 million in revenue guarantees to make up for what it might lose in moving from Oneworld, and $200 million in asset-backed financing. - McClatchy Newspapers