November 6, 2004

Government reports that US economy created 337,000 new jobs in Oct, snapping prolonged jobs slump and igniting renewed hopes that after years of caution, businesses may finally be starting to hire workers more aggressively; it was biggest monthly increase in employment since March; unemployment inches up 0.1 percent, to 5.5 percent; that is seen as positive development--largely result of discouraged workers returning to labor force because of improved prospects; graph (M)

Brooklyn (NYC) coffee shop owner Elliott Bey helps police nab con artist Mark Edwards who had been going from business to business in burgeoning Fort Greene and Park Slope areas, promising to promote and publicize new local businesses, but not delivering; photo (M)

337,000 Jobs Created; Jobless Rate Rises to 5.5% The economy created 337,000 new jobs in October, snapping a prolonged jobs slump and renewing hopes that businesses may finally be starting to hire workers more aggressively. Unemployment inched up 0.1 percent, to 5.5 percent. But that was seen as a generally positive development -- largely a result of discouraged workers returning to the labor force because of improving prospects. [Page A1.] Verizon Adding NextWave Licenses Verizon Wireless said that it would pay $3 billion in cash for the spectrum licenses owned by NextWave Telecom, a move that should help it expand coverage for new subscribers. [C2.] Scrutiny for F.D.A. Safety System The Food and Drug Administration announced that it would hire the government's top scientific review agency to figure out whether its drug-safety system is adequate. Also, after embarrassing disclosures that the views of its drug-safety officials have been suppressed, the agency said that it would set up an internal appeals process. [A11.] Russia Leader Signs Kyoto Protocol President Vladimir V. Putin signed Russia's ratification of the Kyoto Protocol on global warming, clearing the way for the international treaty aimed at reducing emissions of heat-trapping gases to take effect next year. [A10.] Molson Sweetens Merger Offer In a bid to gain support for its proposed merger with the Adolph Coors Company, the Canadian brewer Molson offered minority shareholders a $316 million special dividend, contingent on the merger's approval. [C3.] Europe Unhappy With U.S. Tax Bill The European Union raised objections to parts of the $137 billion corporate tax bill passed last month. The measure was three years in the making and was intended to do away with a tax cut for exporters that was declared illegal by the World Trade Organization. [C3.] SBC Plans to Cut 10,000 Jobs SBC Communications will eliminate 10,000 jobs by the end of 2005. The cuts amount to 6.1 percent of SBC's work force of 165,000 and will come through attrition and layoffs. They are in addition to 7,000 jobs SBC plans to eliminate this year. In general, SBC and the other Bell operating companies have been reducing the size of their local phone businesses because they have been losing customers. [C2.] J.P. Morgan Forms British Venture Cazenove and J.P. Morgan Chase have formed a joint venture in Britain that puts Cazenove in charge of all of J.P. Morgan's British investment banking business. [C3.] Purdue Settles With West Virginia Purdue Pharma reached a $10 million settlement with regulators in West Virginia over claims that it had inappropriately marketed OxyContin to state residents. [C2.] An Editor for Washington Post The Washington Post named Philip Bennett, the assistant managing editor for foreign news, as the next managing editor, replacing Steve Coll, who announced in August he would return to writing at the start of 2005. [C2.] African Gold Miner Sues Suitor Gold Fields filed a lawsuit against Harmony Gold Mining, a rival South African miner, in an attempt to stop Harmony's hostile $7.4 billion takeover bid. [C3.] MBNA Adds American Express Card MBNA introduced a line of credit cards under the American Express brand. [C4.]

Dan Barry About New York column discusses practice of New York City Police Department handing out honorary police commissioner badges to citizens who have helped police and some who abuse use of badge (M)

Sen Christopher J Dodd, in sign of growing Democratic despair after Nov 2 elections, is considering running for governor of Connecticut in 2006; he would be among three Democratic senators from New York region giving thought to such leap, particularly in wake of elections, when Republicans expanded their majority in Senate with gain of four seats; Sen Jon Corzine of New Jersey and Sen Charles E Schumer of New York are said to be dispirited over their continued minority status, and reality that their party does not appear to have shot at winning majority soon (M)