Marketplace

Movie marketing d'oh

Over the weekend, 7-Eleven turned a dozen of its stores into Kwik-E-Marts. It's part of a campaign to promote the Simpsons movie, which comes out in a few weeks. You can buy Buzz Cola and Squishees, just like in the show. Even though the Simpsons makes fun of 7-Eleven, the company is paying for the promotion.

Entertainment Marketing - Advertising

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Time to play 'What's private equity buying now?'

Canada's largest phone company, for one. This weekend, a couple U.S. firms teamed up with the Ontario Teachers' Pension Plan to buy phone company BCE for almost $52 billion. It's the biggest buyout in Canadian history.

And private equity has its eye on Britain's biggest cable operator, Virgin Media. Times of London telecom editor Elizabeth Judge says there's a potential bid brewing worth at least $10 billion.

Canada Europe Wall Street

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Slim squeezes past Gates... and then some

Mexican tycoon Carlos Slim is now worth almost $68 billion, knocking Microsoft's Bill Gates, who can claim "just" $59 billion, out of the top spot for the title of world's richest man. The latest ranking is according to Eduardo Garcia, a respected analyst of Mexican financial wealth. A few months ago, Forbes had Slim as the No. 2 man to Gates.

Investing

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Kraft's becoming king of crackers

Kraft Foods confirmed it's looking to put the cookie and cereal division of French food company Groupe Danone (you know it as Dannon here in the States) in its shopping cart for $7.2 billion. Kraft says the European headquarters of the biscuit biz will stay in France for the foreseeable future. Both companies expect the sale to close by the end of the year.

Retail

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Happy outsourcing of July

Today's the day to celebrate everything American, but for Chrysler Group it marks a landmark deal with China's biggest automaker, Chery, to produce cars for export to the United States and elsewhere. Chrysler Chairman and CEO Tom LaSorda says the company's Chinese-made cars will hit the American market in a little over two years.

Auto Industry

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Welcome to America... the line forms over there

More than 4,000 immigrants became U.S. citizens yesterday, and right now many more are applying for citizenship — before the application fee goes up at the end of this month. Currently, it costs $400 to cover the costs of the paperwork. On July 30, that goes up to $675. Of course, in addition to the fees, citizenship requires a recent background check. And the wait for that is up to two years right now.

Immigration

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China's new take on drink-n-dial

Mobile phone company China Unicom is offering new customers a 12-pack of beer for signing up for service. Not to be outdone, its rival, China Mobile, has decided to give away a whole case of beer. The free ale giveaways were borne in lieu of a price war, so the companies can bypass government controls on phone tariffs.

Asia International

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Ready, set... build a better city

The race is on to create the first fully-sustainable city.

China's planning to take a deserted island the size of Manhattan and turn it into an eco-city for about half a million people. No conventional cars will be allowed and the city will capture and purify water. It'll be just an hour ferry ride from Shanghai, so how they're going to stop mainland pollution from drifting over we're not sure...

Meanwhile in Abu Dhabi, they want to build a smaller, walled city that's being called the world's first zero-carbon, zero-waste city.

Any other takers?

Asia International Middle East Sustainability

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X-tra huge repair bill for Microsoft

A billion dollars is a lot of money, even for Microsoft. The company says it'll spend at least that much to fix the Xbox 360 and reimburse customers in what could be the biggest warranty repair bill for any consumer electronics product ever.

The game console has a major hardware problem that causes it to shut down. Gamers call it the Red Ring of Death because three lights start flashing when the console is about to die on them. Microsoft is also extending the warranty on the Xbox from one to three years.

Science - Technology

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Prada puts its stiletto'd foot down

A Prada spokesperson today said the Milan-based luxury brand is not for sale, following some high-fashion drama to the contrary. The Sunday Times of London reported that British millionaire Richard Caring and a couple private equity funds were in talks with the fashion house said to be worth at least $3.5 billion.

Arts - Culture

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Stuck between Murdoch and a hard place

Dow Jones is doing some frantic last-minute shopping for an alternative to Rupert Murdoch's $5 billion bid. Some members of the Dow Jones board are in Los Angeles today meeting with California billionaire Ron Burkle, who may be their last hope. Then again, The New York Times is reporting that the talks are probably not significant because supermarket king Burkle doesn't have an offer.

The meeting's apparently happening in part to appease Leslie Hill, a member of the Bancroft family which controls 64 percent of Dow Jones. A lot of folks don't want to see Murdoch gain control of the Wall Street Journal's parent company because they believe his News Corp promotes sensationalism and partisanship. On the other hand, there have been reports that if the Murdoch bid fails, there will be deep cuts in the Journal's newsroom staff due to declining ad sales.

Media

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A different sort of utility vehicle

Ford Motor Company announces today that it is teaming up with Southern California Edison to test a rechargeable hybrid. The utility company will get the plug-in car by the end of the year and as many as 20 by 2009 to test the durability and range of the car — and its impact on the power grid. The idea is to help get the new auto technology to market more quickly.

Auto Industry Sustainability

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OK so it's a free plug...

...but it's good for you and the folks at the Wall Street Journal have been having a rough time lately so what the heck: WSJ.com is free to everyone today. Read and enjoy while the wall is down.

Media

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There is a such thing as too many questions

Sprint Nextel sent Dear John letters to a thousand customers telling them 'it's over.' Apparently, these people were calling customer service 40 to 50 times a month, asking the same questions over and over and over and over — and Sprint says they were simply draining too many customer service resources. The ex-customers won't have to pay a termination fee or even their final bill. So if you really want out of your cell phone contract and you've got a lot of free time on your hands...

Retail

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Another iRumor

News of a possible "iPhone Nano" has Apple watchers abuzz this week. Citing an application with the U.S. Patent and Trademark office, JP Morgan analyst Kevin Chang outlined plans for a smaller, cheaper version of the iPhone. The patent app refers to a handheld device with a scroll wheel control — like an iPhone version of the iPod Nano music player according to Chang, who said to look for a fourth quarter launch and a price tag around $300 or lower. Apple's not commenting.

Science - Technology

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Packing on the tobacco tax

Hey smokers, will it make you feel better knowing it's for the kids? The Wall Street Journal says Senators are talking about hiking the federal cigarette tax to $1 a pack. Right now, it's 39 cents, plus state taxes. Democrats want to use the extra revenue to add $50 billion to the State Children's Health Insurance Program, also known as S-Chip, which provides health insurance to low-income children.

Health Taxes Washington, DC

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Layered-look is going out of style

Liz Claiborne has been hurting from a downturn in department store sales. An announcement is expected today, reports The Wall Street Journal, that the apparel company wants to divest itself of 16 of its 36 brands — a move that could mean up to 800 job losses. Among the lines it's expected to try to sell or discontinue: Laundry, Sigrid Olsen, Ellen Tracy and Dana Buchman.

Retail

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Longer work days? Oui!

Full-time workers in France typically get five weeks of vacation from jobs with shorter workweeks than most of us are used to, just 35 hours a week. But now French legislators are saying it may not be a bad idea to encourage people to work more. They've approved a measure championed by President Nicolas Sarkozy that cuts taxes on overtime pay, part of a sweeping economic package he's pushing to open up the country's economy. The bill's almost certain to pass.

Europe International

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Moms want best of both worlds

An increasing number of American moms say they want to work — part-time. A Pew Research Center survey out today says 60 percent of working mothers say they'd rather have a part-time gig than be at home or on-the-job full-time. Dads surveyed had a more traditional take: A whopping 72 percent said their ideal situation would be to work full-time.

Work and Family

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Not a g'day for Google Australia

Google's not making a very good impression Down Under. The Australian Competition and Consumer Commission is taking the search engine to court, claiming Google uses deceptive practices when it comes to the use of its paid advertising links.

At the heart of the dispute is how Google displays search results, specifically where advertisers are sometimes listed in results and not identified as sponsors. Sponsored links have pushed Google's stock market value to $169 billion. Google says the claims are bogus.

Crime - Law Internet

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Hot off the griddle

Pancake chain IHOP announced this morning that it plans to buy Applebee's International, serving up $25.50 per share in cash. The companies say the deal is worth $42.1 billion.

Wall Street

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It's going to be some lunch

Rupert Murdoch is going to sit down for some grub with Dow Jones CEO Richard Zannino today to sort out some outstanding issues for Murdoch's proposed takeover of the Wall Street Journal's parent company. Meanwhile, a member of the family that controls Dow Jones is still trying to block the deal. Reports say Christopher Bancroft is talking to hedge funds and private equity firms about buying enough voting shares to thwart Murdoch's $5 billion takeover bid.

Media

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Coca-Cola profits bubbling

The world's largest soft-drink maker has lagged behind rival Pepsi in recent years but Coke's recent acquisitions of juice and tea company Fuze and vitamin-water giant Glaceau seem to be replenishing its place in the market. The company says second-quarter profit rose thanks to emerging markets such as China, Turkey, India, and Brazil.

Wall Street

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Coming down to the newswire

Rupert Murdoch is oh-so-close to acquiring Dow Jones and the Wall Street Journal. A tentative agreement between Murdoch's News Corp and Dow was made yesterday, all $5 billion worth. Dow's board votes tonight, but the biggest hurdle to getting the deal done comes Thursday when it's presented to the Bancroft family. Its members control 64 percent of Dow, and at this point they remain sharply divided on whether to sell to Murdoch.

Media

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Wouldn't ya like to be a Powergeek too?

Apple co-founder Steve Jobs is a Powergeek — no, make that the top Powergeek. The father of the iPod has been named the undisputed king of the online music revolution by Blender magazine. The magazine's Powergeek 25 is a list of behind-the-scenes players reshaping the way people listen to, buy and watch music. The creators of MySpace are second and the YouTube founders round out the top three. Perez Hilton was No. 13, which we mention only because he has the entire list on his website.

Entertainment Internet

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Smoking just won't die

While many local governments in the U.S. have banned smoking in and around public buildings and restaurants, the tradition is alive and well in Europe — and there may be a new tobacco bully on the world's business playground ready to take the profits. Britain's Imperial Tobacco has made a takeover offer for Spanish cigarette and cigar-maker Altadis. The transaction's valued at almost $18 billion.

Meanwhile, a U.S. Senate committee today takes up a bill to reduce the dangers of smoking. The bill would let the FDA regulate tobacco, just like it does drugs, food and other consumer products. But one part of the proposal is being called impossible by some lawmakers — an idea to create a safer cigarette.

Health

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Upgrades for all

Maverick airline Virgin America starts selling tickets today, and it promises pampering — even back in coach. All passengers will be able to order food from their seats, watch TV or listen to music. A one-way ticket between Los Angeles and San Francisco will start at $44, but paying up for first class will still offer its own bonuses, like sitting in a massage chair. Inaugural flights take off August 8 from LA and New York.

Travel

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Hold the chili sauce, please

You might wanna stick with mustard or ketchup on your dog. The FDA says cans of hot dog chili sauce sold under various names including Castleberry's, Austex and Kroger brands, may be contaminated with the bacteria that causes botulism. Four people have been hospitalized so far. The Georgia-based company that makes the chili sauce is voluntarily recalling the product. The hot sauce outbreak also ends a decades-old streak: The last case of botulism in commercially canned food dates back to the '70s.

Health

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GM makes a comeback

General Motors and Toyota have been neck n' neck in the race for global auto sales. GM sold 2.4 million vehicles to pull into the second quarter's top position, but Toyota retained its overall lead for the first half of the year. Back in the first quarter, Toyota outsold GM for the first time ever. Analysts still expect Toyota to surpass GM in both sales and production for the full year.

Auto Industry

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Democrats pulling in Harry Potter numbers

Something like 8.3 million copies of that new Harry Potter book sold over the weekend. Imagine if that many people took the $25 or $30 they paid for The Deathly Hallows, and donated it to a presidential campaign. Actually, you don't have to imagine it — that's what's happening. The numbers show lots of people are giving to political candidates... Often tiny bits of cash to multiple candidates. So far, the Democrats have raised $100 million, outpacing fundraising by the Republicans for the first time in 30 years.

Politics

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Yet another reason to wrangle an upgrade

United Airlines today announced upgrades to its international business class cabins. Seats will be cushier and they'll recline to lie fully flat, like a personal in-flight B&B. Other new amenities include larger personal TVs and noise-canceling headphones. Several overseas airlines already offer the flat-bed seats, but United is the first U.S. carrier to do so.

Travel

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Big government payoffs for some dead farmers

Here's a whole new twist on the notion of passive income: The government's been writing farm subsidy checks to farmers who are dead. A farmer’s estate is allowed to collect farm payments for two years after the farmer’s death while the heirs sort out the business. But when that time is up, Department of Agriculture officials are meant to check that the farm is still operating, and that those running it are entitled to continued subsidies. According to the GAO report, 40 percent of the time the department hasn’t been verifying that information — in one case, paying out $400,000 to a particular farm whose managers had omitted to mention that a major shareholder had died years before.

Washington, DC

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Domino's does the U.K. rain dance

This summer's torrential rainfall in Great Britain been the perfect seasoning for Domino's — fewer garden barbecues helped to boost sales nearly 15 percent. Dominio's new online presence was a factor, too. The company focused on the Web because there's a ban on TV ads for junk food during children's shows. Up until recently, Domino's U.K. was spending 10 percent of its ad budget on spots during episodes of The Simpsons.

Marketing - Advertising

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Amazon's star rises from the dot-com ashes

Who says Amazon is a faded star from the dot-com days gone by? The online retailer has had trouble in the past, but now it says its profit tripled in the second quarter. That's thanks in large part to a free shipping incentive membership, and to whopping pre-orders of the new Harry Potter book. Shares of Amazon are up 19 percent in after-hours trading.

Internet

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Sell those Chryslers, or else

It could be the end of the road for some Chrysler dealerships if they don't improve car sales. The folks at Chrysler's new owners, Cerberus Capital Management, are warning its weakest franchises:Turn things around in six months, or you're losing the keys. But most of these cases will probably end up in court.

Auto Industry

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Countrywide: two more years of housing slump?

The housing market's caught in its worst slump in 16 years — sales of existing homes fell 3.8 percent in June, the fourth straight month of weakness. Yesterday, mortgage lender Countrywide said a recovery might not be in the cards until 2009. More Countrywide borrowers with good credit are falling behind on loans. That news triggered a sell-off in the stock market yesterday.

Housing - Real Estate

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Apple profits soar on sales of iPods, computers

Wednesday's earnings report from Apple was pretty eye-popping: a 73 percent jump in profit. The iPhone may have been grabbing the limelight lately, but it was sales of iPods and Mac computers that stole the show in the second quarter. Apple shares were up nearly 10 percent in after-hours trading to $150.

Science - Technology

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Selling Business.com is good business

When a couple of guys forked over $7.5 million for the Internet domain name Business.com back in 1999, plenty of people laughed at them. This week, the buyers got the last laugh: The valuable Web real estate got sold again, this time for a little over $350 million. RH Donnelley, which prints the familiar Yellow Pages directories, placed the winning bid, beating out News Corp. and the New York Times. Even New York city real estate doesn't appreciate that much...

Internet

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Freedom of advertising

Environmental activists are asking Home Depot to stop advertising on Fox News because its on-air personalities often blow off global warming as liberal hysteria. Several groups, including Moveon.org are dropping off copies of a petition tomorrow to Home Depot stores around the country. So far, Home Depot says the ads are staying put because "we're advertisers, not censors."

Marketing - Advertising Sustainability

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Cheap test opens markets to African farmers

For decades, African farmers haven't been able to export some corn and nuts to the U.S., because of a naturally-occurring chemical called Aflatoxin. It's produced by a fungus — and it's toxic. The U.S. and Europe often reject foods with traces of the chemical. But a new kit is turning things around. Crops such as cassava and peanuts are vulnerable to the chemical during hot weather and droughts. The traditional way of sending samples to test for it costs $25 dollars a pop — far too expensive for most rural farmers. The new test costs just $1. Scientists say this test can open markets for millions of African farmers, and create safer products for local consumers.

Africa

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Now for something lighter...or not

Guinness beer has about 200 calories in it, but you won't find that information on the side of its bottles or cans in the U.S. That could change, though. The government is considering a new rule that would require all alcoholic beverages to put facts about calories, carbs, sugar and alcohol on the packaging. Beverage distributors seem to be toasting the proposal. But even if it's approved, it'll still be another three years before we see the new labels.

Health

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