BUSINESS BRIEFS
Caterpillar sees rise in profit with overseas sales
Associated Press
CHAMPAIGN, Ill. — Construction-equipment maker and economic bellwether Caterpillar Inc. said yesterday that it expects resilient overseas economies to drive strong sales and profit growth this year, even as the United States teeters toward recession.
The company said its fourth-quarter earnings rose 11 percent on strong international sales, helped along by a weak U.S. dollar that makes American products more affordable.
Peoria, Ill.-based Caterpillar's earnings report followed similar, good-new-, bad-news reports from other major manufacturers this month, all of them struggling at home but riding a wave of growth abroad.
DUNKIN' DONUTS SHANGHAI-BOUND
CANTON, Mass. — Dunkin' Donuts said it plans to open its first shop in Shanghai, China, this spring, with 100 franchise locations planned over the next 10 years.
The Canton-based seller of coffee and baked goods also plans an additional 10 shops this year in Taiwan, where it opened its first location in January 2007.
Dunkin' Donuts now has 10 shops in Taipei, Taiwan, operated by franchise partner Mercuries & Associates.
HONEYWELL PROFIT UP 17.8 PERCENT
NEWARK, N.J. — Diversified manufacturer Honeywell International Inc. reported a 17.8 percent rise in fourth-quarter profit while recording growth in all four of its business segments. Its stock rose almost 4 percent yesterday.
The Morris Township-based company late Thursday said it earned $689 million, or 91 cents per share, for the three months that ended Dec. 31, up from $585 million, or 72 cents per share, a year earlier.
The company had projected net income of 89 cents to 91 cents a share, while analysts surveyed by Thomson Financial were expecting 91 cents a share.
HARLEY-DAVIDSON FALLS 26.3 PERCENT
MILWAUKEE — Harley-Davidson Inc. says riders concerned about the economy are throttling big purchases, like the company's classic motorcycles, sending its profit down 26.3 percent in the fourth quarter.
Sales in the U.S. were down 14.2 percent in the quarter, the company said yesterday. That outpaces the domestic heavyweight motorcycle market's fall of 9 percent.
CEO Jim Ziemer called the retail environment "challenging" for this year and said dealers report consumers are worried about the direction of the economy.
BEERMAKER OKS $15.3 BILLION SALE
LONDON — Brewers Carlsberg and Heineken will buy beermaker Scottish & Newcastle for $15.3 billion, the companies said yesterday.
Scottish & Newcastle PLC, which rejected two earlier bids, agreed to an all-cash offer of $15.68 per share.
The offer values the existing share capital of S&N at $14.9 billion, and the bidders said they plan to issue another $400 million worth of shares. The price is a premium of 50.7 percent over the closing share price on March 28, the day before speculation arose about a possible bid for S&N.
OIL PRICES ABOVE $90 A BARREL
NEW YORK — Oil futures jumped back above $90 a barrel yesterday, adding to the previous session's sharp gains on a view that the recession worries that pulled prices lower in recent weeks may have been overblown.
At the pump, meanwhile, gas prices fell below $3 for the first time in weeks.
Energy investors were heartened by recent moves by the Federal Reserve and Congress to shore up the economy, which could support oil demand.
Light, sweet crude for March delivery rose $1.30 to settle at $90.71 on the New York Mercantile Exchange after rising as high as $91.38.
