IN BRIEF (Page 16)

Facing fine?

Securities regulators plan to order Morgan Stanley to pay $6.1 million for allegedly overcharging customers on $59 million in bond sales, the Wall Street Journal reported yesterday. The Financial Industry Regulatory Authority plans to fine Morgan Stanley $1.5 million and order it to pay $4.6 million in restitution to customers who paid mark-ups of up to 18 percent in 2001 for surplus notes issued by Kemper Lumbermens Mutual Casualty Co, the Journal said, citing unnamed sources.

Stacking on the profit

Weight Watchers International Inc, which operates weight-loss centers and makes diet foods, said on Wednesday (local time) its quarterly profit rose on higher sales. The firm said its second-quarter net income rose to $58 million, or 73 cents a share, from $57.9 million, or 58 cents a share, in the year-ago period. Quarterly sales climbed 20 percent to $383.3 million from $321.1 million.

Bonuses quadruple

Top officials at the US Food and Drug Administration have seen their bonuses quadruple in recent years at a time when the agency has said it lacks money for adequate inspections, the Washington Post reported yesterday.

FDA officials said the bonuses are necessary to prevent talented employees from leaving for more lucrative private-sector jobs, the Post reported.

Iberia revenue soars

Iberia Lineas Aereas de Espana SA, the target of a takeover approach by US buyout firm TPG Inc, said second-quarter profit climbed 75 percent, helped by an increase in long-haul traffic. Net income rose to 62.5 million euros ($85.4 million), or 6.6 cents a share, from 35.7 million euros, or 3.8 cents, a year earlier, Madrid-based Iberia said yesterday. Sales fell 2.6 percent to 1.36 billion euros.

(China Daily 08/03/2007 page16)