Yahoo shares rise on rumors of buyout by AOL

Investors are running up the price of Yahoo Inc. shares after a report saying AOL Inc. and a group of private equity firms may bid for the Web company.

The stock climbed 68 cents, or 4.5 percent, to close at $15.93 Thursday after rising as high as $16.76 earlier in the session. The stock has ranged from $12.94 to $19.12 over the past 52 weeks.

The Wall Street Journal reported on its website after the close of trading Wednesday that AOL, Silver Lake Partners and Blackstone Group LP are exploring a bid. The report said two or three other firms could also be interested in the deal but that Yahoo hasn’t been involved in the talks yet.

Both AOL and Yahoo have declined to comment.

Verizon to offer iPad as relations with Apple thaw

In a sign of warming relations between the two companies, Verizon Wireless is going to start selling Apple Inc.’s iPad at the end of this month, the companies said Thursday.

The news follows published reports that Verizon Wireless will start selling a version of the iPhone early next year. The companies have not confirmed the reports, and Verizon Wireless has downplayed the possibility of an iPhone for its current network.

AT&T Inc. is Apple’s exclusive U.S. carrier for the iPhone. It’s also the only U.S. carrier that’s compatible with the “3G” version of the iPad, which allows for cellular data access.

Verizon Wireless won’t sell the 3G version. Instead, it will sell the Wi-Fi version.

Mortgage rates dive again to 4.19 percent for 30 years

Rates on 30-year mortgages fell this week to 4.19 percent, the lowest level in decades. They were pushed down by lower Treasury bond yields.

Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on corporate debt.

As a result, the average rate for 30-year fixed loans dropped to the lowest level on records dating back to 1971, mortgage buyer Freddie Mac said Thursday. It’s down from 4.27 percent the previous week. The last time rates were this low was in the early 1950s.

OPEC leaves production targets unchanged

OPEC oil ministers on Thursday left production targets unchanged despite what they say is oversupply, signaling both satisfaction with crude prices in the $80s and determination to send a message of stability to energy-dependent nations emerging from recession.

A senior OPEC official also confirmed that the organization was studying a consultant’s report that warns of possible substantial losses in earning power for members by 2050 as the world goes green and reduces dependence on fossil-based fuels.

The report was prepared for OPEC as part of its long-term strategy, approved Thursday. It says the gross domestic product of OPEC members could fall between 27 percent and 44 percent in 40 years as nations enact laws to counter climate change.

CVS fined $75 million over sale of meth ingredient

Federal prosecutors say CVS Pharmacy Inc. has agreed to pay $75 million in fines for allowing repeated purchases of a key methamphetamine ingredient that led to a spike in Southern California drug trafficking.

Prosecutors say it is the largest civil penalty under the Controlled Substances Act. CVS, the nation’s largest operator of retail pharmacies, also will forfeit about $2.6 million in profits from pseudoephedrine.

Authorities said Thursday that CVS didn’t adequately monitor sales of pseudoephedrine, which is found in cold medicine and is used to make meth. They also said the company violated federal drug regulations in at least five states.