Industries

Nestle Said to Weigh Options for Cadbury Bid, May Challenge Kraft Offer Nestle SA is weighing options including a possible bid for Cadbury Plc that would challenge Kraft Foods Inc.’s offer and a potential move by Hershey Co., according to two people with knowledge of the matter.

Cadbury's Carr Stared Down Goldman and RWE as Preparation for Kraft Duel Roger Carr, Cadbury Plc’s chairman, once thwarted Goldman Sachs Group Inc., then led by former Treasury Secretary Henry Paulson, from bidding for pub chain Mitchells & Butlers Plc in 2006.

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Crude Oil Falls a Second Day as Dollar Gains Versus Euro, Equities Decline Crude oil fell for a second day as the dollar strengthened against the euro, reducing the appeal of commodities to investors, and equity markets declined.

Valero to Permanently Close Delaware City Refinery as Demand Declines Valero Energy Corp., the largest U.S. refiner, said it will permanently close its Delaware City, Delaware, plant because of mounting losses after the recession eroded demand for gasoline and diesel.

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Bank of America May Name Stopgap CEO to Allow Board More Time for Search Bank of America Corp.’s board may extend its search for a new, permanent chief executive officer into 2010 if directors can’t settle on a candidate in the next four days, according to people familiar with the matter.

Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

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Senate Clears Way 60-39 for Floor Debate on $848 Billion Health-Care Bill Democrats united to bring sweeping health-care legislation to the U.S. Senate floor in a 60-39 party-line vote that kept Republicans from blocking debate on President Barack Obama’s top domestic initiative.

Mutated Swine Flu Strains in U.S., Europe, Resist Drugs, Worsen Illness Swine flu infections in which the virus mutated to a form that’s more severe or less sensitive to drug treatment are being investigated by European and U.S. public health officials.

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U.K. Flood Claims May Reach as Much as $165 Million for Insurers, ABI Says The cost to insurance companies of this week’s flooding in parts of the U.K. may be as much as 100 million pounds ($165 million), according to the Association of British Insurers.

AIG Investment Unit Renamed PineBridge Before Sale to Li's Pacific Century American International Group Inc.’s fund management arm has been renamed PineBridge Investments as the bailed-out insurer prepares to sell the unit to Pacific Century Group.

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Housing Recovery in U.S. Set Back to 2010 With Market on `Life Support' A recovery in U.S. housing will have to wait at least until next year.

Morgan Stanley Hands Over Crescent to Barclays to Win Forgiveness of Loan Morgan Stanley agreed to hand over a real-estate business acquired in 2007 to Barclays Capital, ending the New York firm’s obligation on a $2 billion loan after taking almost $1 billion in losses.

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Oracle $7.4 Billion Sun Takeover May Be Blocked by EU on Competition Issue Oracle Corp.’s planned $7.4 billion purchase of Sun Microsystems Inc. may be blocked by European Union regulators because of concerns Oracle might be able to eliminate Sun’s MySQL database product as a competitor, according to an EU document.

News Corp., Time Warner Said to Be Interested in Buying MGM Film Studio News Corp., Time Warner Inc., and Qualia Capital LLC are interested in buying the Metro-Goldwyn- Mayer Inc. film studio, owner of the “James Bond” franchise, according to people with knowledge of the situation.

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Boeing May Get $400 Million in Incentives to Build 787 in South Carolina Boeing Co. may get as much as $400 million in incentives to build its new 787 Dreamliner factory in South Carolina, Governor Mark Sanford said in an interview today.

Ford Says It's Investing $2.3 Billion Over Five Years in Brazil Operations Ford Motor Co. said it will spend 4 billion reais ($2.3 billion) to expand in the growing Brazilian market, the largest investment it has made in the country.

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