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Week in review: April 20
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Google: After tweaking its online advertising formula and expanding its business outside the United States, Google Inc. produced a first-quarter profit that surpassed analysts' predictions, alleviating some of the economic worries battering its stock this year. The news, released after the stock market closed Thursday, lifted Google's recently drooping shares by more than $76, or 17 percent. The Internet search leader said it earned $1.31 billion, or $4.12 per share, during the first three months of the year. That represented a 31 percent increase from net income of $1 billion, or $3.18 per share, in the first quarter of 2007.
A bad week for ...
Anthem Blue Cross: Los Angeles City Attorney Rocky Delgadillo brought a $1 billion lawsuit against the state's largest healthcare insurer, Anthem Blue Cross. The case, filed Wednesday in Superior Court, accuses the company of violating laws prohibiting unfair competition and false advertising with deceptive practices and unlawfully terminating policies when people needed healthcare most. Anthem Blue Cross denied the allegations, adding it has tried to meet with Delgadillo but has been rebuffed.
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