Business news in brief

Shares of

Genzyme Corp.

climbed Tuesday on reports that the biotech drugmaker has agreed to be acquired by French pharmaceutical company

Sanofi-Aventis

for roughly $19 billion, after nearly nine months of back-and-forth between the two companies. Sanofi has operations in the Philadelphia area. The deal is expected to be announced Wednesday, when Genzyme reports its quarterly earnings.

- AP

The December unemployment rate was lower than it was 12 months earlier in every county in the Philadelphia region except Philadelphia, where it was stuck at 10.7 percent, the

Bureau of Labor Statistics

reported. The overall unemployment rate for Burlington, Camden and Gloucester Counties was 9.1 percent, compared with 8.1 percent in Philadelphia and the four surrounding Southeastern Pennsylvania counties. The unemployment rate for the region overall was 8.4, lower than the U.S. rate in December, but still 2.2 percentage points higher than it was in December 2008, the agency said.

- Harold Brubaker

The

New Jersey Casino Reinvestment Development Authority

has approved Susan Ney Thompson as interim executive director for the state agency that oversees redevelopment projects using gambling proceeds. Thompson replaces Thomas Carver, who had been executive director since 2005, and who resigned this week. Thompson, who has been with the CRDA since 1989, most recently as its chief operating officer, will serve until the position is filled permanently. The change comes as Gov. Christie begins a state-led overhaul of Atlantic City, which includes increasing the CRDA's powers.

- Suzette Parmley

Pulse Electronics Corp.

plans to raise its component prices in the coming weeks because of rising costs of raw materials and higher minimum-wage rates taking effect in many parts of China soon. The Trevose electronics-component-maker said it had increased prices on some parts of its business. Many businesses have recently indicated that they may boost prices to help deal with rising costs. Shares of Pulse Electronics fell 22 cents to close at $5.15.

- AP

Gov. Christie said New Jersey would appeal court rulings that would allow deepening of the Delaware River shipping channel without updated environmental studies. Last month, U.S. District Judge Joel Pisano rejected New Jersey's efforts to block the

Army Corps of Engineers

from proceeding with the project. The Christie administration said Tuesday that it had filed notices of appeal with the U.S. Court of Appeals for the Third Circuit in Philadelphia.

- AP

Lawyers for Ecuadoreans who won a $9.5 billion judgment against

Chevron Corp.

for damage to the country's rain forest said Tuesday that they would not try to collect the award until the oil giant completes the appeals process. An Ecuadorean judge Monday ordered Chevron to pay $8.6 billion in damages and cleanup costs, plus a legally mandated 10 percent reparations fee. The plaintiffs team for years was financed by the Philadelphia law firm of

Kohn, Swift & Graf

, which spent $7 million on the case and also assisted in settlement attempts in the United States. Name partner Joseph Kohn pulled out of the case in 2009, later accusing the lawyers in Ecuador of potentially improper conduct.

- AP

Ocean Shore Holding Co.

, the holding company for Ocean City Home Bank, said in a statement that it had signed a definitive merger agreement with

CBHC Financialcorp Inc.

Ocean Shore Holding, Ocean City, N.J., is to acquire CBHC in a transaction valued at $11.9 million. CBHC is the holding company for Select Bank, a $135 million bank in Egg Harbor City.

- Inquirer Staff

United Continental Holdings

says 96 United Airlines aircraft were temporarily grounded voluntarily while the carrier performs maintenance checks that were not completed. Tuesday's grounding has caused at least 17 flights to be canceled and an unspecified number of delays. The issue could affect United's schedule into Wednesday. Airline spokeswoman Megan McCarthy says United grounded the Boeing 757 aircraft because the carrier determined that it had not completed operational checks after updating air data computers after a 2004 federal directive.

- AP

Businesses added to their stockpiles for a 12th consecutive month in December, suggesting further growth at U.S. factories that could lead to more hiring. Inventories rose 0.8 percent in December, the

Commerce Department

reported. Businesses also reported another solid increase in demand, with total business sales rising 1.1 percent in December. A full year of increases pushed the value of businesses' stockpiles to $1.44 trillion in December. That's a level that economists consider to be healthy.

- AP

Home Depot Inc.

is ramping up for spring, with plans to hire more than 60,000 seasonal workers to help with its busiest season of the year. Home Depot said it would also add some permanent part-time and full-time jobs this year, but a spokeswoman did not have an exact figure.

- AP

Home builders have yet to see a turnaround in the housing market after the worst year for new-home sales in a half-century. The

National Association of Home Builders

said its index of builder sentiment for February was unchanged for the fourth straight month at 16. A reading below 50 indicates negative sentiment about the market. The index has not been above that level since April 2006.

- AP

Personal-computer-maker

Dell Inc.

said its net income more than doubled in the fourth quarter. Increased technology spending by businesses boosted the results, as did lower costs for computer parts, Dell said. Net income soared to $927 million, or 48 cents a share, from $334 million, or 17 cents a share, a year earlier.

- AP