BUSINESS DIGEST
By Unknown Author
Greenspan Backs Idea Of Private Accounts Alan Greenspan, the Federal Reserve chairman, gave his blessing to the creation of individual investment accounts in Social Security but expressed unease that the change could lead to trillions of dollars in additional government borrowing in the next few decades. Meanwhile, President Bush, in newspaper interviews, left the door open to raising taxes on upper-income people to help deal with projected financial problems in the Social Security program. [Page A1.] Intel Makes Advance in Lasers An advance by Intel researchers in blending silicon chip technology with optical lasers could lead to cheaper communications systems and new uses for lasers. [C7.] Cancer Treatment Shows Promise An experimental treatment developed by Dendreon, a Seattle biotechnology company, tripled the survival rate of men with advanced prostate cancer in a clinical trial, doctors said. The result represents perhaps the first significant success for therapies known as cancer vaccines. The treatment tries to harness the body's own immune system to fight cancer after it has developed. [C5.] A Coffee Liqueur From Starbucks Starbucks, in a partnership with Jim Beam, is introducing an alcoholic coffee drink that will not be sold at its coffee outlets. [C3.] Indonesia Maps a Road to Growth On a visit to Singapore, the president of Indonesia talked of the kind of cleaner, more dynamic economy he wants for his country. [C4.] Hewlett Earnings Match Forecasts Hewlett-Packard's quarterly revenues rose by 9.9 percent from a year earlier, in line with Wall Street estimates. [C7.] Rate Remarks Do Little for Stocks The stock markets were nearly flat after the Fed chairman suggested rates would keep rising without pause. The Dow fell 2.44 points, to 10,834.88, and the S.&P. 500-stock index rose 0.22 point, to 1,210.34. [C7.] Script Problems End Film Shoot A film starring Russell Crowe, left, and Nicole Kidman has fallen apart three days before filming was scheduled to start, an embarrassing stumble for Fox Searchlight. Producers told the cast and crew members on the set of the drama, ''Eucalyptus,'' in Australia last Friday that the production would be postponed indefinitely. [C6.] Dispute Over Fen-Phen Settlement Lawyers for people who say they were hurt by the diet drug combination fen-phen said they would reject a comprehensive settlement offer from Wyeth. [C5.] Scrutiny of Stun Guns on the Rise Human rights groups and researchers are stepping up calls for studies and standards governing the use of electric stun guns. [A18.] The Bull Is Back, Promoting Merrill New ads for Merrill Lynch intensify its image makeover. Stuart Elliott: Advertising. [C6.] Scammers Pursue Small Businesses Owners of small businesses make ripe targets for all sorts of unscrupulous tax preparers and tax promoters. Small Business. [C4.] Measuring Self-Interest's Limits Does self-interest explain all behavior, or can we set it aside in the name of a greater good? Robert H. Frank: Economic Scene. [C2.]