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Around the business world

Daily Staff Report

PepsiCo names new chief executive officer: NEW YORK – PepsiCo Inc. says Chief Financial Officer Indra K. Nooyi will replace Steven Reinemund as chief executive officer of the soft-drink and snacks company, effective Oct. 1. With her appointment, Nooyi takes her place as the second-ranked woman in an elite group of 11 female CEOs running Fortune 500 companies.HealthSouth says it is mulling some spin-offs: BIRMINGHAM, Ala. – HealthSouth Corp. may shed its hallmark rehabilitation business and other segments to focus on post-acute care as it reports declining revenues from a year ago but a smaller loss.Stocks rise after market welcomes Middle East cease-fire: NEW YORK – Wall Street welcomed a cease-fire between Israel and Lebanon, sending stocks sharply higher as oil prices tumbled. Oil prices fell more than $1 a barrel as a cease-fire began in Lebanon and investors respond to news that BP expects to maintain half of its production at a large oil field in Alaska despite a pipeline leak.Prudhoe outage boosting motorists’ pain at the pump: ANCHORAGE – The nation’s journey to $3 per gallon gas has been more like a drag race than a meandering road trip. With the partial shutdown of Prudhoe Bay last week, motorists who have felt the pain at the pump had more to moan about as the simple dynamics of supply and demand kept the prices hovering at a level that seemed unfathomable a few years ago.Wal-Mart angers some employees with new pay package: BENTONVILLE, Ark. – Wal-Mart’s plan to raise its average employee’s wages by 6 percent and to put in place salary caps to encourage promotions has angered some workers who see it more as a plan to push out longer-term workers who are too expensive by both pay and benefits.Low fares in Europe could be flying away: LONDON – Europeans have become used to cheap flights over the past decade, sometimes paying no more than a price of a good meal for a ticket between London and Barcelona. But last week’s terrorist alert has cast a shadow over the era of budget flying, with fears that no-frills airlines won’t be able to avoid passing on the costs of ongoing tougher security measures to commuters.Domestic automakers make headway in customer satisfaction: DETROIT – Domestic automakers gained a little bit of ground this year on their foreign competitors when it comes to customer satisfaction, according to an annual survey of U.S. vehicle owners.Trade secret theft suspects to give voice to their prosecutors NEW YORK – A judge orders three people charged in the theft of trade secrets from The Coca-Cola Co. to turn over voice samples to allow the government to try to match them to recorded telephone conversations that are part of the investigation.Cracked magazine returns to newsstands today: NEW YORK – The crass comics magazine Cracked, long the second fiddle to Mad magazine as the top time waster in the nation’s study halls, is back from the dead. After a two-year hiatus from publishing, Cracked has been reinvented as a glossy Maxim-style “lad mag,” but it hasn’t lost its mission as a purveyor of bathroom jokes. The debut issue hits newsstands today.Legal program for poor has expensive tastes: WASHINGTON – The federal program that provides legal help to poor Americans turned away half of its applicants for lack of resources. That hasn’t stopped executives from lavishing expensive food, chauffeur-driven cars and foreign trips on themselves, according to agency documents obtained by The Associated Press. Ericsson announces China deal: STOCKHOLM, Sweden – Wireless equipment maker LM Ericsson announced deals worth more than $550 million to expand mobile networks in 17 Chinese regions.Bolivia backs off nationalization, perplexing energy companies: LA PAZ, Bolivia – Brazil’s Petrobras and other energy companies face new uncertainties as Bolivia appeared to back off its nationalization plan for the country’s extensive natural gas reserves.Euro users economies continue to grow: BRUSSELS, Belgium – The economy in the 12 nations that use the euro grew at an annualized rate of 2.4 percent in the second quarter, the EU says, raising its forecast for growth in the third quarter but cutting it for the fourth. The German economy, Europe’s largest, grew by 0.9 percent in the second quarter, accelerating by its fastest pace in more than five years with help from increasing investment at home, government figures show.All about the Americans: BUENOS AIRES, Argentina – There’s more to Argentina these days than tango, tourism and tasty beef. Lured here as tourists, adventuresome foreigners are increasingly deciding to stay – launching businesses that offer everything from English tea to pad Thai and even California-style burritos.Vail Daily, Vail, Colorado


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