Industries

Phillips-Van Heusen May Gain From Acquiring Tommy Hilfiger, Analysts Say Phillips-Van Heusen Corp. would gain extra profit within a year of a reported potential acquisition of Tommy Hilfiger Corp., JPMorgan Chase & Co. analysts estimate.

Kroger Fourth-Quarter Profit Declines as Health-Care, Labor Expenses Rise Kroger Co., the largest U.S. grocery-store chain, projected full-year earnings lower than analysts estimated and said fourth-quarter profit fell 27 percent as health-care and labor costs advanced.

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Oil Declines for the First Time in Three Days as Dollar Gains Versus Euro Crude oil declined for the first time in three days as the dollar gained against the euro, reducing the appeal of commodities as an alternative investment.

Chevron to Sell Pembroke Refinery in U.K., Cut 2,000 Jobs Through 2011 Chevron Corp., the second-largest U.S. energy company, plans to sell its only remaining European refinery, cut 2,000 jobs and shed assets in the Caribbean and Central America to stanch losses from its fuel-making business.

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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.

Comerica Raises $800 Million in Stock Sale to Repay Government TARP Funds Comerica Inc. raised $800 million from equity investors to repay federal bailout funds, becoming the latest U.S. bank to sell stock this year to exit the Troubled Asset Relief Program.

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OSI Bid Likely to Increase as Hungry Astellas Covets Cancer Drug Revenues OSI Pharmaceuticals Inc.’s status as one of the few U.S. biotechnology companies with income from an approved cancer drug likely will drive up the price Tokyo-based Astellas Pharma Inc. must pay to acquire it.

Sanofi-Aventis, Merck to Combine Animal Health Units to Form Global Leader Sanofi-Aventis SA and Merck & Co. will combine their veterinary medicine units to create the world’s largest animal-health business with combined sales of more than $5 billion and 14,000 employees.

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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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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.

City of London Developers to Start Skyscrapers as Rents End Two-Year Drop Brookfield Asset Management Inc., owner of a stake in the U.K.’s tallest building, is about to start constructing an even higher tower in the City of London.

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Cisco Introduces Faster Router That Accelerates Video Downloads From Web Cisco Systems Inc., seeking to boost sales to phone carriers, introduced an Internet router that will let Web users download movies, songs and data faster to computers and mobile devices.

Verizon Wireless to Show NFL Games on Handsets as Part of Four-Year Deal Verizon Wireless won an agreement to show live National Football League games on its mobile phones, expanding its video offerings to lure smartphone customers away from rivals.

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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.

Tanker `Soap Opera' May Not End With Northrop Pass, Boeing's Albaugh Says Northrop Grumman Corp.’s decision to forgo bidding on the U.S. Air Force’s $35 billion refueling tanker program, leaving Boeing Co. without a competitor, may not mark the end of a nearly decade-long quest to replace the military’s existing fleet, a Boeing executive said.

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