Posted June 8, 2007
Walt Disney Co. will spend $100 million making films in China and other locations outside the United States. The company will make the investment during the next "two to three years," Disney Chief Financial Officer Tom Staggs said Thursday at an investment conference in London. Disney plans to release The Magic Gourd this month in China, where the film was produced. Chief Executive Officer Robert Iger wants to make more movies and television shows outside the U.S., in local languages and with local actors. The company is already making versions of Disney Channel's High School Musical movie for several markets, including India.
Coke bottlers to distribute V8 drinks
Campbell Soup Co., the world's largest soupmaker, agreed to have Coca-Cola Co. bottlers distribute V8 and other juice drinks in the U.S. and Canada to expand their availability in schools and other retail outlets. Coca-Cola Enterprises Inc., the biggest soft-drink bottler, will deliver single-serve packages of V8, V8 V-Fusion, V8 Splash and Campbell's tomato juices. Campbell has been pushing the juices harder in the last few years, hoping to benefit from increasingly health-conscious consumers. Coca-Cola bottlers already distribute Campbell's coffee-flavored Godiva drinks.
Microsoft purchases Stratature Inc.
Microsoft Corp., the world's largest software maker, bought Stratature Inc. to add programs for managing corporate data. Closely held Stratature, based in Alpharetta, Ga., was already a partner before the acquisition, Microsoft said Thursday in an e-mailed statement. Terms weren't disclosed. Microsoft has been adding data-management features to fuel sales of its SQL database server and Office software.
Consumer borrowing slows in April
Consumer borrowing posted the smallest increase in six months in April as Americans paid off some of their credit-card debt. The Federal Reserve reported Thursday that consumer borrowing rose at an annual rate of just 1.3 percent in April, down from a 7 percent rise in March. It was the weakest showing since consumer debt rose at a tiny 0.1 percent rate last October. The increase of $2.6 billion in total debt was far below the $6 billion increase that had been expected.
22 airlines must pay overdue fees
Southwest Airlines Co., American Airlines and 20 other carriers must pay the U.S. government $219 million in back security fees dating to 2005, a federal agency said. Southwest owes the most, $54 million, followed by AMR Corp.'s American at $40 million and Delta Air Lines Inc. at $32 million, Transportation Security Administration spokeswoman Ellen Howe said Thursday. TSA's decision to seek the $219 million caps an 18-month dispute with airlines, which are trying to curb security costs that they say should be borne by the government.
Wal-Mart promotes prepaid card
Wal-Mart Stores Inc., stymied in its attempts to open a bank earlier this year, is promoting a prepaid spending card that shoppers can use for purchases in stores and on the Internet. The card, called the Wal-Mart MoneyCard, is provided through Visa and doesn't require a bank account, according to its Web site. Wal-Mart, which already offers check cashing and fee-free bank machines, wants to expand financial services as U.S. store growth slows.
Information from Bloomberg News and The Associated Press was used in this report.
