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Microsoft, E.U. Reach Accord
About 727,000 candles are being recalled because the gel in them can produce dangerous flames, the government said. Nature's Finest Candles of Marble Falls, Tex., has received four reports of the gel generating high flames, burning the hands of at least two consumers, the Consumer Product Safety Commission said. The Nature's Finest Gel Candles are sold in various colors and scents and come in 5.5-ounce and 11-ounce glass containers. The recall covers UPC codes 3863300100 through 3863300114 and 3863300200 through 3863300214, located on a sticker on the bottom. Consumers are urged to stop using the candles and contact Nature's Finest for a refund by visiting www.naturesfinestcandles.com or calling 800-964-6804.
Brazil will not renew an expiring $15.5 billion loan accord with the International Monetary Fund as the country's economy expands and foreign reserves rise. The move ends almost seven years of IMF loan agreements with Brazil, which first signed an accord in 1998 in a bid to shore up its currency and bonds in the aftermath of Russia's debt default.
Rowe plans to restate certain financial reports to correct accounting errors related to lease agreements. The McLean-based furniture maker and retailer said that, based on a preliminary analysis, it expects profit to be reduced by $142,000 in 2004, $332,000 in 2003 and $61,000 in 2002 as a result.
Walgreen reported a 13.7 percent increase in its fiscal second-quarter profit, to a record $490.4 million, on strong pharmacy sales. Earnings for the six months ended Feb. 28 climbed 20 percent, to $819.5 million. Revenue grew 12.3 percent, to a record $10.99 billion in the quarter, and 12.8 percent, to $20.88 billion, in the first half.