From wire reports

Kodak cutting up to 6,000 jobs

ROCHESTER, N.Y. - Eastman Kodak Co. is cutting between 4,500 and 6,000 jobs, or up to 9 percent of its payroll, as it struggles with a slump in film sales blamed largely on a sluggish economy and the rapid growth of filmless digital picture-taking. Its shares rose 7 percent. The company posted sharply lower second-quarter earnings of $112 million, or 39 cents a share, down from $284 million, or 97 cents a share, a year ago.

ImClone's Sam Waksal begins prison term

MINERSVILLE, Pa. - ImClone Systems Inc. founder Sam Waksal reported to a minimum-security prison Wednesday to begin serving a more than seven-year prison term. He admitted to tipping his daughter to dump ImClone stock because he had received word the government was about to issue a negative report on the firm's cancer drug, Erbitux.

Pension agency designated 'high risk'

WASHINGTON - Congressional investigators designated the government's pension insurance program "high risk," adding it Wednesday to a list of troubled agencies and services that need urgent attention. The Pension Benefit Guaranty Corp. posted a $3.6 billion shortfall last year after burning through its entire $7.7 billion surplus. As of March 31, the unaudited shortfall had grown to $5.4 billion.