Tuesday, August 12, 2003

Business digest

SEC checks claims of investor insurer

From wire reports

WASHINGTON - Lawmakers warned Monday that the public may have been misled by the Securities Investor Protection Corp., which insures investors against the collapse of brokerage firms.

An SEC examination found the SIPC's brochure and Web site might overstate the extent of coverage, a General Accounting Office study said.

The SIPC is also at risk of failing itself if one or more big brokerage firms goes bankrupt, according to a report by the Securities and Exchange Commission included in the study.

Digital photo enhancers debut

Hewlett-Packard Co., the world's biggest maker of computer printers, unveiled new printers, scanners, cameras and other devices for consumers to improve the quality of digital photos as it tries to fend off rivals Lexmark International Inc. and Dell Inc.

It will spend $300 million, its most ever for a single marketing campaign, to release the devices.

AOL wants out of Time Warner name

NEW YORK - America Online is asking AOL Time Warner Inc. to drop "AOL" from its name, concerned that negative publicity about the parent company is hurting the online service's efforts to right itself.

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