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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Business Briefs: Drugmaker Dendreon files for bankruptcy

From Wire Reports

Prostate cancer drug developer Dendreon is seeking Chapter 11 bankruptcy protection with a plan that leads to either a sale of the company or a takeover by its lenders.

The Seattle company listed more than $664 million in total debts and $364.6 million in assets in a U.S. Bankruptcy Court filing Monday. Its largest creditor is Bank of New York Mellon, which holds $620 million in notes.

Dendreon Corp. makes the prostate cancer treatment Provenge. It said Monday that its restructuring will allow for the continued delivery of the drug to doctors and patients. The drugmaker also said it has enough cash to support all operations during its restructuring.

The drugmaker’s financial troubles stem from Provenge, its first commercially approved drug. Analysts initially expected the drug to ring up billions of dollars in annual sales after it was launched in 2010.

McDonald’s Happy Meal toy poses choking risk

WASHINGTON – McDonald’s is recalling a Hello Kitty-themed whistle included in Happy Meals, citing a chance they could choke on some of its parts.

The U.S. Consumer Product Safety Commission said Monday that two children have reportedly coughed out pieces of the whistle that they had sucked into their mouths, including one child who received medical attention.

The safety agency said that parts of the three-inch-tall “Hello Kitty Birthday Lollipop” whistle can detach and be inhaled.

The toys were in Happy Meals and Mighty Kids Meals in the U.S. and Canada in October and November.

Consumers should return the whistle to any McDonald’s for a free replacement toy.

Apple devices vulnerable to hack by ‘phishing’

SAN FRANCISCO – Security researchers say they’ve found a vulnerability in Apple’s software that hackers could use to steal sensitive information from iPhones or iPads, by tricking device owners into downloading a malicious app.

Hackers aren’t known to be exploiting the weakness on a broad scale, and cybersecurity company FireEye says Apple is working on a fix. Apple did not immediately comment.

“Masque Attack” lets hackers trick iPhone or iPad owners into downloading a malicious app by disguising it as an update for a legitimate app, according to FireEye researchers. The app can be downloaded wirelessly if the device owner clicks on a link in a “phishing” email or text that’s been designed to look like it came from a trusted source.

As part of the deception, FireEye researchers said, hackers might send a message offering the latest version of a popular online game. But if a device owner clicks on the link, it can download a malicious version of another program the victim is already using, such as an email or banking app. The malicious app replaces the legitimate app and appears normal, FireEye said, but it can secretly copy passwords or other sensitive information and send it wirelessly to the hackers.

Target offering early Black Friday deals

MINNEAPOLIS – Target is planning to offer Black Friday deals before the Thanksgiving holiday, in its latest move to boost sluggish sales heading into the holiday shopping season.

The retailer is giving early access to some of the deals reserved for the holiday kickoff by holding a pre-sale on a handful of Black Friday discounts at stores and online on Nov. 26, the day before Thanksgiving. And on Thanksgiving morning, online customers will have access to discounts before the 6 p.m. store openings.

The moves come after Target said last month that it was eliminating shipping fees for online orders under $50 until Dec. 20. Target said it saw a 30 percent increase in online sales in the first 48 hours of free shipping compared with the prior two weeks.