PARIS — Airbus was left with an empty order book for the cargo version of its much-delayed superjumbo plane after UPS Inc. said today it would cancel its order for 10 A380s.

The move comes just a week after UPS, the world's largest shipping carrier, and Airbus announced a revised agreement that gave either party the right to terminate the order.

In a statement, Atlanta-based UPS said it decided to cancel after it learned Airbus was diverting employees from the freighter program to work on its passenger plane program.

UPS said the final cancellation decision will be formally presented to Airbus on the first date specified under last week's agreement.

The announcement by UPS comes four months after rival FedEx Corp. also scrapped its 10-plane order, and leaves Airbus with no orders for the superjumbo freighter — dealing a new blow to its A380 program, whose two-year delay cut 5 billion euros ($6.6 billion) off profit forecasts for 2006-2010. Airbus still has orders for passenger versions of the A380.

The A380 program as a whole "is progressing well and in line with the new timetable, with the first delivery to the first customer in October 2007," she said, referring to launch customer Singapore Airlines — set to become the first carrier to take paying passengers in the double-decker plane.

EMI REJECTS WARNER TAKEOVER PROPOSAL

LONDON — Music company EMI Group PLC said today that it rejected a nonbinding $4.1 billion takeover proposal from Warner Music Group.

London-based EMI, which announced last week that it had been approached by former suitor Warner, said that the 2.1 billion pound, or 260 pence ($5.06) per share offer, was inadequate based on EMI's own value and the lack of benefits from joining with Warner.

Shares in EMI closed 4.5 percent higher at 246.25 pence ($4.79) on the London Stock Exchange.

EMI, which has Norah Jones, Coldplay, Robbie Williams and the Beatles back catalog on its books, said it was focused on a restructuring program it announced in January when it surprised the market with the first of two profits warnings.

Warner's top U.S. names include Madonna and the Red Hot Chili Peppers.

TOYOTA GAINS U.S. 'WARRIORS'

WASHINGTON —From a high school auditorium near the birthplace of Elvis, Toyota was greeted like a hometown hero this week when it announced its eighth vehicle assembly plant in North America.

Students cheered as the automaker showed off a Highlander sport utility vehicle that will be built starting in 2010 at the $1.3 billion plant near Tupelo, Miss. Gov. Haley Barbour called Toyota Motor Corp. the "world's premiere auto manufacturer," and Sen. Trent Lott, the Senate's No. 2 Republican, promised "when you are in our constituency, we are warriors on your behalf."

Toyota's choice of Mississippi for a new plant should give it more clout on Capitol Hill. With Michigan-based automakers facing hardships, a few more members of Congress on its side helps as Toyota takes on some lawmakers who openly question whether what's good for Toyota and other Japanese automakers is good for America.

Lawmakers representing manufacturing states complain that the Japanese government has kept the yen artificially low, allowing their auto producers to undercut competitors and reap huge profits in the United States. They note that 46 percent of Toyota's U.S. sales in 2006 came from vehicles imported from Japan, even as the company highlights its American work force and assembly plants in advertising.

BBC OFFERS CHANNELS ON YOUTUBE

LONDON — The British Broadcasting Corp. began showing excerpts from its news and entertainment programs on the YouTube video-sharing Web site today, becoming the first international broadcaster to ink a major deal with the Google Inc.-owned portal.

In an agreement that analysts described as a key step for both the BBC and YouTube, the British broadcaster is offering three branded channels on the site, including one showing up to 30 news clips a day. The deal gives the BBC access to millions more viewers and gives YouTube the credibility of the venerable British broadcaster.

BBC Director General Mark Thompson said the broadcaster hopes to drive extra traffic to its own Web site and bring in commercial revenue to supplement the license fee levied on British taxpayers.

Datamonitor analyst Chris Khouri said that the move showed the BBC was becoming "a more commercially focused organization." Chris Lake, an editor at E-consultancy, an Internet marketing firm, added that the deal would provide the BBC with crucial information about viewer habits that it could then use on its own Web site. The BBC has already announced plans to set up its own video player on a new international portal.

SEC ALLEGES ILLEGAL INSIDER TRADING IN TXU DEAL

DALLAS — Federal regulators charged today that unknown investors pocketed more than $5.3 million in illegal profits from insider trading before TXU Corp. announced it had agreed to be sold for $32 billion.

The Securities and Exchange Commission said the insider trading was done through foreign brokerage firms to conceal the investors' identities.

SEC lawyers in Fort Worth filed a lawsuit in federal district court in Chicago seeking restitution and civil fines against unknown defendants who bought options on TXU shares last week.

The SEC said the options allowed the defendants to buy shares when they hit prices ranging from $57.50 to $62.50. At the time the options were purchased, most if not all were above the price of TXU shares at the time.

The shares jumped 13.2 percent — from $60.02 to $67.93 — on Monday, when TXU announced that its board agreed to sell to Kohlberg Kravis Roberts & Co., Texas Pacific Group and four Wall Street firms in what would be the largest leveraged buyout ever. The buyers offered $69.25 per share.