Business briefs

Advertiser Staff and News Services

HAWAI'I

Matson to move headquarters

Matson Navigation Co. is moving its headquarters from San Francisco to Oakland Dec. 8. About 200 employees will work at 555 City Center, which overlooks the Port of Oakland.

NATION & WORLD

Pentagon halts Boeing order

The ethics scandal that has engulfed Boeing Co. and led to the firing of two top executives and the resignation of its chairman may yield another casualty — the 767 jetliner.

The Pentagon yesterday put its order for 100 of the 767s on hold and began an inquiry into the $17 billion deal. The contract was essential to keeping the plane in production. In March, Hawaiian Airlines completed a switch to 767s for all long flights.

Pepsi to lay off 750 workers

PepsiCo Inc., the world's second-largest soft-drink maker, will lay off 750 workers, close a Frito-Lay snacks plant in Kentucky and combine juice businesses into one unit to lower costs.

PepsiCo has about 142,000 workers. The company will manage its Tropicana and Dole juices and juice-drink brands as part of a new group, with a Chicago headquarters.

HP plans music player, service

Hewlett-Packard Co. plans to introduce an Internet music store and portable music player next year, joining a hot new field increasingly crowded by a range of computer, software and media companies, The Wall Street Journal reported in its online edition.

Hewlett-Packard plans to launch a site to sell song downloads sometime in the first quarter, likely through a partnership with an existing online distributor of music.

Daiei finds stadium buyer

Colony Capital LLC, a Los Angeles-based real estate investor with Hawai'i properties, agreed to buy Daiei Inc.'s Fukuoka stadium complex, home to this year's Japan baseball champion, for $721 million in assumed debt. Colony Capital plans to complete the purchase of the stadium and 1,052 room hotel by the end of March, said Daiei, Japan's third-biggest retailer.