Industries

Australian Retail Spending to Rise Through 2012 as Jobs Surge, Access Says Australian retail sales growth will accelerate in the next two years as consumer confidence gains on rising employment, according to Access Economics.

Vitasoy to Double China Capacity to Tap Growing Demand for Packaged Drinks Vitasoy International Holdings Ltd., a soy milk supplier to Starbucks Corp., will invest about 300 million yuan ($44 million) to double its capacity in China and tap increasing demand for packaged beverages.

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Crude Oil Pares Losses on Fuel Demand Outlook as China's Imports Increase Oil pared losses to trade above $81 a barrel in New York on optimism fuel demand will recover after imports into China, the world’s second-biggest energy user, rose more than estimated.

Reliance Sold Gasoline to Iran in April, May 2009, India's Government Says Reliance Industries Ltd., operator of the world’s largest refining complex, sold gasoline to Iran in April and May of last year, India’s government said.

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Apollo Said to Triple Property Assets With Buy of Citigroup Investing Unit Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit in a move that will more than triple the value of the private-equity firm’s property assets, a person with knowledge of the deal said yesterday.

AIG's `Money in the Door' Asset Sales Reap $3.2 Billion for Bondholders American International Group Inc. bondholders reaped at least $3.2 billion after the bailed-out company announced deals to sell its two largest non-U.S. life insurance divisions for $51 billion.

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Abbott to Buy Facet for $27 a Share, 54% More Than Biogen's Rejected Offer Abbott Laboratories, maker of the arthritis medicine Humira, succeeded in its bid for Facet Biotech Corp. by offering 54 percent more than Biogen Idec Inc. in its rejected takeover effort.

J&J Pushed Drug's Sale to Elderly After U.S. Warned of False Safety Claims Johnson & Johnson made plans to reach $302 million in geriatric sales for its antipsychotic Risperdal just months after federal regulators said the company falsely claimed the drug was safe and effective with the elderly, according to internal documents.

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AIG Climbs on Speculation Bailed-Out U.S. Insurer May Divest More Assets American International Group Inc., the insurer rescued by the U.S., climbed for a fourth day, jumping 17 percent, on speculation the firm may sell more assets after announcing deals to divest two units for $51 billion.

MetLife Chief Henrikson Eclipses Benmosche After Vow Not to Waste Crisis MetLife Inc. Chief Executive Officer Robert Henrikson, who vowed not to waste the financial crisis, will control a larger overseas life insurance operation than his old boss after agreeing to pay $15.5 billion for a unit of American International Group Inc.

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Apollo Management Said to Acquire Citigroup's Real Estate Investment Unit Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit, according to a person with knowledge of the deal.

General Growth Backers Add $3.9 Billion to Boost Brookfield's Revival Plan General Growth Properties Inc. said its biggest debt and equity holders offered to jointly invest $3.93 billion in the company, bolstering a plan with Brookfield Asset Management Inc. to bring the mall owner out of bankruptcy.

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Fujitsu Investors Renew Calls for More Information Over Nozoe Controversy Fujitsu Ltd. drew renewed calls from investors to shed more light on the departure of former President Kuniaki Nozoe after the Tokyo Stock Exchange ended a probe into the conflicting reasons given by the company.

PCCW Says Chairman Richard Li's Plans to Buy Out Phone Company Are `Dead' PCCW Ltd., linked to a police probe following a court ruling that a buyout bid by Chairman Richard Li had been manipulated, said investors at Hong Kong’s biggest phone company should consider the takeover plan as “dead.”

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Cathay Pacific Makes Profit on Fuel-Hedging Gain, Maintenance Venture Sale Cathay Pacific Airways Ltd., Hong Kong’s biggest carrier, posted a second-half profit on fuel- hedging gains and the sale of a stake in a maintenance venture.

Continental Air Open to Merger Should Competition Dictate, CEO Smisek Says Continental Airlines Inc., after calling off a merger with United Airlines two years ago, would resume consolidation efforts to remain competitive, Chief Executive Officer Jeff Smisek said.

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