IBT Staff Reporter

Coca-Cola Co. has agreed to take part in LG Household & Health Care's acquisition of the South Korean bottling arm of Australia's Coca-Cola Amatil Ltd., a source familiar with the deal said on Wednesday.

WellPoint Inc. posted an 11 percent rise in second-quarter profit on Wednesday as the largest U.S. health insurer by enrollment increased its membership from a year earlier and better controlled administrative costs.

The dollar rebounded from recent record lows versus the euro on Wednesday, benefiting from rising risk aversion as global stocks fell and investors assessed how far contagion from the U.S. housing market might spread.

World number-two truck maker Volvo AB produced an unexpected fall in second-quarter profit on weakness in its key U.S. market and forecast more slippage there, sending its shares down 7 percent.

Honda Motor Co. beat forecasts with a 16 percent rise in quarterly profit after increased exports and currency gains outweighed higher raw material and sales costs, and it lifted its full-year forecasts to reflect a softer yen.

European stocks hit a one-month low and the yen and government bonds rose on Wednesday after disappointing U.S. earnings results fanned concerns that the U.S. mortgage sector's malaise may hurt the broader economy.

Accounting firm Ernst & Young plans to nearly double its transaction advisory team in Asia over the next three years, to meet rising mergers and acquisition activity in China and India, an executive said on Wednesday.

Japan's Nikkei average fell 0.8 percent on Wednesday as exporters such as Toyota Motor Corp. lost ground on a tumble in U.S. stocks and a stronger yen, and lower oil prices hit energy stocks.

Microsoft Corp. said on Wednesday it will pipe advertisements into a slate of popular sports video games from Electronic Arts Inc., including its best-selling Madden football franchise.

Europe's second biggest car maker, Peugeot Citroen, said its recovery had started, reporting an operating profit margin of 2.7 percent in the first half of 2007 up from 2.4 percent a year ago.

German drug and chemical company Merck KGaA reported a 58 percent rise in quarterly operating profit on Wednesday, boosted partly by its acquisition of Swiss biotech firm Serono.

The family that controls Dow Jones & Co expects to decide by early next week if it wants to sell the company to Rupert Murdoch's News Corp for $5 billion, a source familiar with the matter said on Tuesday.

A surging U.S. market for initial public offerings has intensified competition between the two largest U.S. stock exchanges for new listings, with both markets campaigning for many of the companies that have recently gone public.

Amazon.com Inc. posted quarterly net profit on Tuesday that more than tripled, surprising Wall Street, as U.S. sales jumped, sending shares up 17 percent after-hours. The company also raised its forecast for full-year sales.

UAL Corp., parent of No. 2 U.S. carrier United Airlines, on Tuesday said its quarterly profit more than doubled as it controlled costs during the strong summer travel season.

Bausch & Lomb Inc. on Tuesday requested that rival Advanced Medical Optics Inc. revise its unsolicited $4.23 billion bid to buy the eye care company, which plans to instead accept Warburg Pincus' $3.67 billion offer.

Microsoft Corp has showed early signs of narrowing the gap with Google Inc in its Web business, leading Wall Street to ask whether the world's biggest software company may be able to turn an overlooked unit into a financial powerhouse.

Fallout from a crisis in the U.S. subprime mortgage market rattled the auto sector on Tuesday after the debt package for a General Motors asset sale was postponed and borrowing costs on automakers' debt surged.

XM Satellite Radio said on Tuesday that Hugh Panero, 51, its chief executive and a company founder, would step down in August, after earlier saying he would resign once a proposed merger with rival Sirius Satellite Radio was approved.

Nissan Motor Co. said Tuesday that it will shift some production of its Dualis sport utility vehicle from Japan to the U.K by the end of the year, Japanese daily Nikkei said Tuesday.

Nissan Motor Co., Japan's third-largest carmaker said net profit was down 16 percent in the latest quarter due to higher raw material costs and taxes.

Stocks tumbled on Tuesday, with the three major indexes posting their worst single day performance since March 13, as disappointing results from DuPont Co. and Countrywide Financial Corp. heightened concerns about the housing market.

Countrywide Financial Corp. Chief Executive Angelo Mozilo said the U.S. housing market is unlikely to recover before 2009, as lenders and homeowners work through oversupply, stagnating home prices, and the excesses of recent lax lending standards in much of the mortgage industry.

Sales of Sony's PlayStation 3 (PS3) game console rose by 21 percent in the month of June, but it was still outsold by rival Xbox360 from Microsoft and Wii from Nintendo, according to a market research firm.

Nokia, the world's largest cell phone maker, said today that it acquired the media sharing website Twango for an undisclosed price.

Kimberly-Clark Corp. said on Tuesday that quarterly profit jumped 22 percent as savings from its restructuring plan helped offset increased fiber costs, and the company raised its full-year earnings forecast.

DuPont Co., the No. 2 U.S. chemical company, on Tuesday reported lower-than-expected second-quarter profit as weak U.S. housing and auto markets slowed demand and overshadowed growth in other regions.

TiVo Inc. introduced a trimmed-down, less expensive version of its digital video recorder for high-definition televisions on Tuesday, hoping to spur mainstream demand 10 months after a pricey first foray was received coolly.

While young people embrace the Web with real or virtual friends and their cell phone is never far away, relatively few like technology and those that do tend to be in Brazil, India and China, according to a survey.