Latest Business Wires

The World Bank says it has approved a $1.5 billion loan to support economic stimulus and reform programs in Mexico, and a $491 million loan for Mexico's efforts against swine flu.

Federal agents searched the Indiana and Ohio offices of two companies owned by an Indianapolis businessman Tuesday, serving warrants a month after a newspaper questioned whether the Ohio firm is capable of repaying some $168 million owed to investors.

Blue Coat Systems Inc. on Tuesday reported a fiscal second-quarter profit, reversing a year-ago loss, as sales of its security hardware and software products rose slightly and costs declined.

Halliburton Co., which provides services for the energy industry, said Tuesday that reduced activity by major Mexican customer Petroleos Mexicanos — Pemex — will drag down fourth-quarter profit by 2 cents per share.

American International Group Inc. on Tuesday said it will go ahead with a previously announced pay package for its new CEO Robert Benmosche of $7 million in cash and stock.

The Washington Post will close its remaining U.S. bureaus in New York, Los Angeles and Chicago at the end of the year to save money and will focus news efforts on covering the nation's capital.

A proposal unveiled today by state Rep. Alma Wheeler Smith to revamp Michigan's tax structure to raise $6.5 billion more would:

Four NBC affiliates broadcasting the Macy's Thanksgiving Day Parade are banning a commercial promoting veganism sponsored by People for the Ethical Treatment of Animals.

Food and seasonings maker McCormick & Co. on Tuesday increased its quarterly dividend to 26 cents per share from 24 cents.

State lawmakers and attorneys are scrutinizing Blue Cross and Blue Shield of North Carolina for its attempt to influence the national health care debate through direct mail and possibly illegal automated phone calls.

With the holiday travel season gearing up, authorities are cracking down on the swarms of unlicensed taxi drivers who hustle passengers at New York City airports.

Maidenform Brands Inc., a seller of bras and underwear, said Tuesday its board has elected the CEO of beauty products maker Coty Inc., Bernd Beetz, as a director.

The U.S. Army Corps of Engineers violated federal environmental laws by failing to give the public enough of a say before issuing permits for mountaintop removal coal mines in West Virginia, a federal judge ruled Tuesday.

Data storage and analysis company Netezza Corp. said Tuesday its profit dropped 75 percent in the fiscal third quarter as stock-based compensation costs increased and revenue declined.

Florida Public Service Commission staffers have slightly changed their recommended energy conservation goals, which the panel previously rejected as being too weak.

Hotel chain Wyndham Worldwide Corp. has extended its contract with CEO and Chairman Stephen P. Holmes for another three years.

Power company Duke Energy says it has reached a settlement in South Carolina that will result in a rate increase of 5.2 percent, the first jump in its general rates since 1991.

America TeVe, a Spanish-language channel in Miami, has merged with CV Network and is now in charge of operations, distribution and selling advertising for the latter's stations.

Among the earnings stories for Tuesday, Nov. 24, from AP Financial News:

Ten more loan-modification firms have agreed to comply with Colorado laws or be barred from doing business in the state.