COMPANIES

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Nestle Posts Rise in 1st-Half Profits

1Nestle SA, the world's biggest food and drink company, reported an 11 percent rise in first-half net profit Wednesday thanks to cost cutting and internal growth and despite higher raw material prices.

Sprint COO to leave amid transition

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Sprint Nextel Corp. said on Monday Chief Operating Officer Len Lauer was leaving the company and his responsibilities would be assumed by Chief Executive Gary Forsee amid moves to improve the company's performance after two quarters that disappointed investors.
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YouTube expands types of advertising: report

Closely held YouTube Inc., a video Web site, is expanding the type of advertisements it sells to include videos on its home page and on special advertiser-created pages, the Wall Street Journal reported on Tuesday, citing company executives.
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Japan Firms Launch Ad Service for Podcasts

Dentsu Inc., Japan's largest adverising conglomerate, and CCI (Cyber Communications Inc.) announced Friday that they will start an audio ad streaming service for Apple iPod Podcast contents.
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Coca-Cola: Goodbye UK, Hello Africa

The Coca- Cola company said on Friday it will relocate its Africa Group office from Windsor, England to Johannesburg in South Africa starting in January next year, in a bid to increase business growth in Africa.
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Ford Announces Deep Cuts in Production

Ford Motor Co. on Friday said it would cut fourth-quarter production by 21 percent and also reduce third-quarter production to accelerate its turnaround plan.
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Ford looking at more salary cuts, plant closings: WSJ

Ford Motor Co. is considering closing more factories and eliminating more management jobs to cut North American salary costs by another 10 percent to 30 percent, the Wall Street Journal reported on its web site on Thursday.
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Merck Loses Vioxx Case

A jury in a U.S. federal court found that pharmaceuticals company Merck & co. was responsible for the death of a man who took the company's Vioxx painkiller drug.
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Icahn to up Time Warner stake: report

Carl Icahn is planning to increase his stake in Time Warner Inc through a new fund he is developing, the New York Times reported on Thursday, citing a letter the billionaire sent to investors.
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Teck Withdraws Offer for Inco

Teck Cominco, the world's largest zinc producer, has withdrawn its offer for mining giant Inco, after failing to raise enough cash to fund the acquisition. Teck Cominco, the world's largest zinc producer, has withdrawn its offer for mining giant Inco, after failing to raise enough cash to fund the acquisition.
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Spying on the Economy With a Retailer's Binoculars

There's a cloud of diminished profits hanging over one of the U.S. market's leading auto parts retailers. In an economy which shows signs of slowing down and consumers are less willing to open their wallets, the company says it has to re-examine itself.
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Pepsi Names New CEO

Pepsi Co. Inc. on Monday announced that it would be replacing current Chief Executive Steve Reinemund, after he announced he would retire, with the company's Chief Financial Officer, Indra Nooyi.
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PepsiCo Names New Female CEO

Indra Nooyi, who played in an all-girl rock band in her youth, brings her ease at performing onstage to the boardroom at PepsiCo Inc. where she will become the new chief executive, those who know her said on Monday.
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Airlines to cut Heathrow flights amid security row

Airlines will cut 20 percent of flights departing London's Heathrow Airport on Monday following a directive by the airport's owner amid a growing dispute over how to handle tougher security measures.
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ImClone Fails to Find a Buyer

Biotechnology firm ImClone said on Thursday that it had failed to find a buyer for the company six months after beginning its search at the beginning of the year.
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Target Stores Hitting Their Mark

Target Corp., the US market's second largest retailer, endured an uncertain economy in the latest quarter to earn a solid profit which beat Wall Street expectations.
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Researchers chase goal of non-hijackable plane

Can technology create a non-hijackable plane?By 2008, European researchers aim to bring that vision closer to reality through an ambitious security program to combat on-board threats in an industry left reeling this week by a security scare that raised the specter of September 11.
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BETonSPORTS shutters US business

Internet gaming group BETonSPORTS, which removed its chief executive from his job following his detention in Texas last month on racketeering charges, said on Friday it was closing down the U.S. business, which drives the vast majority of the company's profits.
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Telkom's Business Connexion Acquistion Delayed

South Africa's telecommunication giant Telkom's proposed takeover of IT company Business Connexion Ltd has been delayed as certain conditions have not been met on time, the group said on Thursday.
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Sprint Settles Second Privacy Case

Sprint Nextel Corp. said on Thursday that it had secured a $1 million settlement from 1st Source Information Specialists in its case against the company related to the sale of call detail records.

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