Business Briefs

Kelley School of Business to hold online job fair\nThe Kelley School of Business will host an eFair beginning Friday and lasting until Wednesday. \neFairs are Web-based job fairs, held once a semester. Participating companies post job openings, and undergraduates can browse the listings for full-time jobs or internships. Each eFair listing is divided into one of three areas: accounting and finance, marketing and management, or systems and decision technology. \nStudents can browse company eBooths, which contain the company's name, job title and description, and a link to the company's career Web site. Students can refer their resumes to companies they are interested in with the click of a button. \nFor more information on how to access the eFair, visit

Agreement reached between Verizon, Nextel\nNEW YORK -- Nextel Communications and Verizon Wireless unexpectedly resolved a heated dispute Tuesday over a federal proposal to clear up interference between cell phones and emergency response radios by moving Nextel's signals to a more valuable band of spectrum.\nIn exchange for Verizon dropping its opposition to the spectrum proposal, Nextel is withdrawing its claim of trademark rights for the phrase "Push To Talk" and the word "push" to describe the popular walkie-talkie service which Nextel introduced to cell phones and which Verizon and other rivals now offer.\nThe agreement announced Tuesday ends a very public argument in which each company nastily accused the other of putting business interests ahead of public safety concerns -- often invoking memories of 9-11 and the need for reliable emergency communications as an issue being exploited or ignored by the other side.

AOL will eliminate 5 percent of its U.S. work force\nNEW YORK -- America Online, which has been trying to turn its fortunes around as users leave the service for broadband connections, plans to cut about 700 jobs next month, or 5 percent of its U.S. work force, in a bid to meet financial targets, a person speaking on the condition of anonymity said Tuesday.\nThe source said the job cuts would occur mainly in northern Virginia, where the online service is based. News of the cuts was reported earlier in The Washington Post.\nJim Whitney, an AOL spokesman, declined to comment.\nWord of the job cuts came one day before AOL's parent company, the giant media conglomerate Time Warner Inc., reported earnings for its third quarter. AOL is expected to be a key topic for investors, including its efforts to seek new kinds of revenues as its dial-up users migrate to high-speed Internet connections.\nNEW YORK -- The property insurance industry sustained record third-quarter losses this year after a series of storms, including a string of hurricanes, according to an actuarial firm's preliminary estimate.\nEight catastrophes, including hurricanes Charley, Frances, Ivan and Jeanne, contributed to $21.3 billion in insured property loss claims, according to New Jersey-based Insurance Services Office Inc. That figure compares to $3.7 billion from last year's third quarter, $715 million in the third-quarter of 2002 and $19.15 billion in the third-quarter of 2001 -- the previous record, which included $18.8 billion in insured property losses from the Sept. 11 terrorist attacks.\nFor the first nine months of 2004, insured losses stand at $24.7 billion, second only to the $26.1 billion from the first nine months in 2001. Last year, insurers lost $10.2 billion in the first nine months.

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