Chase, Bank One merger protested

Two Cincinnati community activist groups are protesting the proposed $58 billion merger between J.P. Morgan Chase Co. and Bank One Corp.

Communities United For Action and WIN Action Organizing Project have asked the Federal Reserve to block J.P. Morgan Chase's purchase of Bank One because of the banking giants' lending practices locally. Shareholders are scheduled to vote on the merger May 25.

The groups claim that Bank One and units of J.P. Morgan Chase have among the highest foreclosure rates and denial rates for mortgages to African-Americans and low-income residents in the Cincinnati region.

The groups also claim Bank One doesn't operate branches in some areas where they represent residents. Calmetta Coleman, a Bank One spokesman in Chicago, said the bank is willing to work with organizations in markets where the bank operates to meet the needs of residents.

Wyeth ordered to pay $1B in fen-phen suit

Wyeth, which has set aside $16.6 billion to resolve suits over damages caused by fen-phen diet combinations, must pay $1.013 billion to the family of a Texas woman who died from a lung disease after taking weight-loss pills the company makes, a jury ruled.

Jurors in Beaumont, Texas, found Wyeth was responsible for Cynthia Cappel-Coffey's death from primary pulmonary hypertension, a lung-destroying disease linked to fen-phen use.

Wyeth will appeal the verdict, it said in a statement.

Consumer confidence spurts up in April

NEW YORK - Consumer confidence soared past analysts' expectations in April, helped by a brightening job picture, the Conference Board reported Tuesday. But economists said employment growth needs to continue for Americans to remain optimistic and keep spending.

The Consumer Confidence Index rose to 92.9, up from a revised 88.5 in March, the New York-based Conference Board said - better than the 88.5 that analysts had expected.

The increase of 4.4 points was the largest rise from the previous month since a 10.8 point increase in November 2003.

In March, the index was unchanged from the previous month. The improvement in April was sparked by a more favorable assessment of business and labor market conditions and increased optimism about the next six months, said Lynn Franco, director of the Conference Board's Consumer Research Center.

DreamWorks unveils $100M Japanese deal

TOKYO - The DreamWorks SKG movie studio has signed a $100 million distribution and licensing deal with the Japanese media group Kadokawa Holdings Inc., the firms said Tuesday.

Tokyo-based Kadokawa will invest $100 million in DreamWorks under an agreement giving the Japanese company 2.83 percent equity in the studio and the right to distribute at least 35 feature films released in Japan, said Kadokawa corporate communications manager Shigeru Takagi.