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BUSINESS BRIEFS/IN BRIEF.(TO THE POINT)
FINANCIAL
Citigroup to buy Federated cards
The banking company will buy the credit card portfolios of Federated Department Stores and May Department Stores, with combined receivables of $6.6 bil, after the department store chains merge. Citigroup agreed to pay a 11.5% premium for the portfolios. In '03, Citigroup acquired Sears' $29 bil portfolio. Citi was flat. Federated rose 2%.
** Jackson Hewitt Tax Service earned $1.44 a share in Q2, up 3% and 6 cents over views. Revenue rose 8% to $143.1 mil. Jackson Hewitt, which ...
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