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, gave a 2010 earnings forecast that trails analysts’ estimates and said fourth-quarter profit fell 27 percent after health-care and labor costs increased.

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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.

Royal Bank May Consider Takeovers of U.S. Banks With $10 Billion in Assets Royal Bank of Canada is interested in U.S. banks with $10 billion in assets or more to add to its consumer lending business, said James Westlake, an executive who oversees the international unit.

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Abbott to Buy Facet for $450 Million to Add Experimental Cancer Medicines Abbott Laboratories, maker of the arthritis drug Humira, agreed to buy Facet Biotech Corp. for $27 a share in cash, for a net $450 million, adding experimental medicines in cancer and immunology.

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.

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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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Fujitsu Probe Fails to Dispel Investors' Concerns About Nozoe Controversy Fujitsu Ltd., the computer company embroiled in a dispute with its former chief, was inadequately probed by Japan’s main stock exchange over the disclosure of President Kuniaki Nozoe’s resignation, investors said.

PCCW Says Chairman Richard Li's Plans to Buy Out Phone Company Are `Dead' PCCW Ltd. said investors should consider as “dead” Chairman Richard Li’s plan to buy out Hong Kong’s biggest phone company after police began a probe into the bid and judges ruled it had been manipulated.

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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.

Toyota Says Electronics Test Cited in U.S. House Hearing Isn't Realistic Toyota Motor Corp. said a test of its electronic throttle-control system cited in testimony to Congress as possible evidence of a cause of sudden acceleration in its vehicles couldn’t occur in everyday driving.

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