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Annan: 'Hard Knocks' in Volcker Report

UNITED NATIONS – U.N. Secretary-General Kofi Annan (search) said Friday he would take prompt action in response to a highly critical investigative report about the troubled Oil-for-Food program. “Obviously there were some hard knocks in the report and we are concerned about it, and that is why we intend to …

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Rumsfeld: No Timeline for Iraq Security

WASHINGTON – Once its internal security forces are trained to handle violent insurgents, Iraq will require more time to build a military force strong enough to meet any threats from Iran or other neighbors, Defense Secretary Donald H. Rumsfeld (search) says. Vice President Dick Cheney (search) and Rumsfeld, appearing separately …

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Mylan, King Call Off Merger Amid Differences

PITTSBURGH – Generic drug maker Mylan Laboratories Inc. (MYL) and King Pharmaceuticals Inc. (KG), a branded drug maker, have agreed to call off their planned merger because they cannot agree on terms. Mylan, based in Pittsburgh, had made a $4 billion all-stock offer in July to buy Bristol, Tenn.-based King. …

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