Business news for Mon, 24 Dec 2007 & with word regulators. 5 news.

Shares of Sunnyvale-based Pharmacyclics plunged more than 26 percent Monday - the fourth biggest drop in its history - after federal regulators refused to approve its drug Xcytrin to treat patients whose lung cancer has spread to their brain.

European regulators have included Cathay Pacific, Singapore Airlines and Air Canada in an investigation of suspected price-rigging for freight services

CATHAY Pacific Airways Ltd said yesterday it had received a formal letter of complaint from European Union regulators investigating allegations of price fixing in the air cargo business. The EU and the United States have been investigating more than a dozen airlines since at least early 2006 to discover if there was collusion in the air cargo industry to fix prices on surcharges for fuel, security and insurance. The European Commission said on Friday it had sent out Statements of Objections to a number of airlines, but did not name them. British Airways, Air France-KLM, and Scandinavian airline operator SAS Group later confirmed they had each received a letter. Cathay said it was reviewing the letter with its legal counsel and would make a "timely response" to the objections. "It is a lengthy and complex document, and only sets out the (regulator's) preliminary findings resulting from its investigation into the air cargo sector of the aviation industry. The

The $17.7 billion purchase of Harrah's has a tentative final OK from regulators, the gaming giant says.

Cathay Pacific Airways has received a letter of complaint from EU regulators investigating allegations of price fixing in the air cargo business.