California Fedex drivers win $14.4 million in pay dispute

A court-appointed official has awarded drivers for FedEx Corp. in California about $14.4 million in a dispute over whether the delivery company illegally classified them as independent contractors instead of employees.

The award for job-related expenses and interest is about $9 million more than was awarded to the drivers by a trial court in 2005, lawyers for about 200 drivers said Monday.

FedEx said the company would review the recommendation and contest any disputed items.

COURTS

Parmalat told to pay Citi damages

Parmalat has been ordered to pay Citigroup $364 million in damages after a New Jersey state court jury found that the bank did not aid executives in looting the Italian dairy company before its collapse in 2003.

Parmalat had been seeking $1.92 billion in damages in the case, filed in Superior Court of Bergen County, N.J., alleging that Citigroup Inc. aided and abetted a breach of fiduciary duty.

The decision is subject to Parmalat's applications to set aside the verdict in trial court, the company said. If the applications are denied, Parmalat plans to appeal the decision.

HEALTHCARE

HLTH, WebMD end merger plan

Continuing turmoil in the financial markets prompted HLTH Corp. and its subsidiary WebMD Health Corp. to cancel a $2.31-billion cash-and-stock merger, the companies said.

The boards of directors of both companies favored ending the deal, which was announced in February. HLTH holds an 84% stake in WebMD, which provides a range of health information to consumers and healthcare professionals.

Shares of Elmwood Park, N.J.-based HLTH plummeted $1.14, or 12.5%, to close at $7.96. WebMD advanced $3.92, or 25.8%, to $19.10.

BEVERAGES

MillerCoors ends Zima production

MillerCoors has said goodbye to Zima. The joint venture between SABMiller's U.S. unit and Molson Coors Brewing Co. told distributors in a letter that production of the malt liquor beverage was discontinued Oct. 10.

Chief Marketing Officer Andy England says the decision was due to weakness in the "malternative" segment and declining consumer interest.

He says Zima inventories will probably last through December.

ENTERTAINMENT

Televisa in deal with Telemundo

Grupo Televisa, Mexico's largest broadcaster, agreed to distribute content from NBC Universal's Telemundo Group Inc. on wireless devices.