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April 03, 2001

* Document processing giant Xerox Corp. said it had delayed the filing of its 2000 annual report because its auditing firm advised that a more thorough review is necessary. Xerox, which was involved in accounting irregularities last year at its Mexico unit, said the 10-K data were due to be filed to the SEC on Monday. The delay comes as the SEC continues its probe involving Xerox's Mexico unit that resulted in the firing of several managers and a $120-million charge.

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* Circuit City Stores Inc.'s fourth-quarter profit dropped 35% as sales slowed for its retail electronics business, but its used-car business moved into profitability. Earnings for the period ended Feb. 28 were $103.2 million, or 49 cents a share, down from $159.7 million, or 78 cents, a year ago. Revenue fell 4% to $3.82 billion.

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* Washington Mutual Inc. agreed to buy Fleet Mortgage Corp., a unit of FleetBoston Financial Corp., for $660 million in cash, in a move that will make the Seattle-based financial services firm the No. 2 U.S. mortgage servicer.

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* Ameritrade Holding Corp., the No. 5 U.S. online brokerage, is laying off about 7% of its staff as the company fights to cut costs amid the stock market's tumble. Its president, Jack McDonnell, also resigned.

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