Business

Business Notes

Kentucky

Phishing scam poses as Bank of Harlan

An e-mail posing as the Bank of Harlan is part of a recent phishing scam designed to obtain credit or debit card information, according to Kentucky State Police. The e-mail provides a link to a Web site for recipients to go to and fill out an online survey for money. After the survey is complete, the Web site asks for debit or credit card information that must be filled in to receive the reward. No legitimate financial institution will request bank account or credit card information through e-mail or phone call.

national

Circuit City might have buyer

Circuit City Stores Inc. said Friday it is in talks with two parties that could buy the company or provide additional financing for it to stay in business. Circuit City, the nation's second-largest electronics retailer after Best Buy Co., filed for Chapter 11 bankruptcy protection in November as it faced pressure from vendors, heightened competition and waning consumer spending. Its Canadian operations filed for similar protection. A judge on Friday gave Circuit City permission to begin the process of selling the Richmond, Va.-based company's units or its assets.

Best Buy adjusts forecast

Best Buy Co., the nation's largest consumer electronics chain, narrowed its fiscal 2009 adjusted earnings forecast Friday and said it will take an approximately $60 million fourth-quarter charge related to some employee buyouts. The Minnesota-based company is trying to control costs and inventory as consumer anxiety grows about the recession and job losses. Best Buy said it now expects adjusted profit between $2.50 and $2.70 per share for its fiscal year that ends in February. It previously projected earnings in a range of $2.30 to $2.90 per share. The updated outlook reflects a likely 2 percent to 3 percent decline in same-store sales.

Ford Fusion mileage certified

Ford Motor Co. on Friday said the conventional version of its new Fusion sedan will get the best gas mileage in the highly popular midsize segment of the U.S. market. Ford said the Environmental Protection Agency certified that a Fusion equipped with a 2.5-liter, four-cylinder engine and a six-speed automatic transmission will get 34 miles per gallon on the highway and 23 mpg in the city. The revamped Fusion, due in showrooms in March, aims to take market share from the Toyota Camry, the top-selling car in the United States. A four-cylinder Camry with either a manual or automatic transmission now gets 31 miles per gallon on the highway and 21 in the city. Ford also is rolling out a hybrid gasoline-electric version of the Fusion that will get 41 miles per gallon in the city and 36 on the freeway, which the automaker says is the most efficient hybrid in its class.

Boeing to cut 4,500 jobs

Boeing Co., the world's second-largest airplane maker, plans to cut about 3 percent of its work force as a weakening global economy lowers demand for jetliners. The Chicago-based company said Friday it expects to cut about 4,500 positions from its passenger jet business. Many of the cuts will be in areas not directly associated with aircraft production. The news comes a day after Boeing reported a 15 percent decline in passenger jet deliveries for 2008.

International

Toyota names new chief

The grandson of Toyota Motor Corp.'s founder will take the helm of Japan's top automaker in June, newspapers said Friday. Toyota's top executives will hold a board meeting as early as Monday to endorse the appointment of Akio Toyoda, 52, said the Nikkei daily, Japan's top business newspaper, citing no sources. Toyoda will officially take over leadership of Japan's auto giant following a shareholders' meeting in late June, it said.

No resolution in gas war

Russian and Ukrainian officials bickered into the night Friday over a deal leading to the resumption of Russian gas supplies, squelching hopes for an end to a dispute that has left parts of Europe in the cold and dark. European Union representatives started work in Ukraine's capital, Kiev, to monitor the flow of gas, offering an independent assessment that was critical to sealing a bargain. But Russia wants monitors in place to prevent what it described as Ukraine's theft of supplies meant for Europe — a charge Kiev hotly denies.

Compiled from Staff, wire reports

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