Industries

Wal-Mart Considers First Hong Kong Yuan Bond Sale, Asia Chief Price Says Wal-Mart Stores Inc., the world’s largest retailer, is considering selling yuan bonds in Hong Kong as China opens its markets, according to Asia Chief Executive Officer Scott Price.

Nike Rises After Third-Quarter Profit More Than Doubles, Topping Estimates Nike Inc., the world’s largest maker of athletic shoes, jumped to its highest level in more than 27 years in U.S. trading after reporting third-quarter profit that more than doubled and exceeded analysts’ estimates.

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Oil Drops for First Time in Three Days as Dollar Gains, Crude Stocks Rise Oil fell for the first time in three days as a stronger dollar trimmed demand for commodities as an alternative investment and a report showed U.S. crude stockpiles increased.

Saudi Aramco Said to Buy Term Gasoil Cargoes; Shipments Start to Arrive Saudi Aramco, the world’s largest state-owned oil company, began receiving gasoil cargoes this month as part of an agreement to buy 7 million barrels of the fuel this year, traders familiar with the transaction said.

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Analyst Research Settlement Change Backed by SEC, Banks Rejected by Judge A federal judge in New York rejected a proposed change to a 2003 settlement that would have relaxed the separation between research analysts and investment bankers.

CIT's Thain Will Exclude Aircraft Finance From Asset Sales, Executive Says CIT Group Inc., the commercial lender being restructured by Chief Executive Officer John A. Thain, will retain its aircraft finance unit during the coming round of asset sales, an executive told an industry gathering.

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Teva Agrees to Buy Ratiopharm in Transaction Valuing Company at $5 Billion Teva Pharmaceutical Industries Ltd. agreed to buy Ratiopharm GmbH for 3.63 billion euros ($5 billion), ending a nine-month battle for Germany’s second- biggest maker of generic medicines.

J&J's Alzheimer Drug Test Results May Be Pushed Back 2 Years Until 2012 One of the most eagerly anticipated studies of a drug for Alzheimer’s disease may not yield results until 2012, two years later than had been forecast.

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Health Bill to Cost $940 Billion, Cut Deficit Over a Decade, Democrats Say Democrats got a boost in their effort to enact the most sweeping U.S. health-care legislation in four decades when congressional budget experts said the $940 billion bill would cut the federal deficit.

Travelers Awards Fishman $21.6 Million for 2009 as Profit, Shares Advance Travelers Cos., the largest U.S. property-casualty insurer by market value, boosted Chief Executive Officer Jay Fishman’s pay by 42 percent as profit climbed and the company joined the Dow Jones Industrial Average.

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Starwood-Led Group to Invest Up to $905 Million in Extended Stay Debt Deal Starwood Capital Group is leading investment partners pledging as much as $905 million to bring Extended Stay Hotels Inc. out of bankruptcy, a deal that would trump a previous offer led by Centerbridge Partners LP.

General Growth Plans to Submit a New Reorganization Proposal, Lawyer Says General Growth Properties Inc. will submit by next week a new proposal to reorganize its holding company that would give it more than $6 billion in cash and another $250 million to back a rights offering. It also won permission to reorganize five property-owning units.

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Jerome York, Apple Director and Chrysler, IBM Finance Chief, Dies at 71 Jerome York, a director of Apple Inc., former chief financial officer at Chrysler Corp. and International Business Machines Corp., and adviser to investor Kirk Kerkorian, died today in Pontiac, Michigan. He was 71.

Time Warner Said to Weigh MGM Studio Bid of $1.2 Billion to $1.5 Billion Time Warner Inc. is considering a bid of $1.2 billion to $1.5 billion for the Metro-Goldwyn-Mayer Inc. film studio, according to two people with knowledge of the discussions, as second-round offers come due tomorrow.

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FedEx Profit More Than Doubles on Increased Air Shipments in Asia, Europe FedEx Corp., the world’s largest cargo airline, said quarterly profit more than doubled on increased shipments in Asia and Europe as the global economy improves.

Porsche, Ford's Lincoln Top J.D. Power Vehicle-Dependability Study in U.S. Porsche SE’s namesake brand led J.D. Power & Associates’ annual study of vehicle dependability, while Ford Motor Co.’s Lincoln topped General Motors Co.’s Buick, last year’s leader, and Toyota Motor Corp.’s Lexus.

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