IN BRIEF (Page 17)

Bankruptcy filings up

US business bankruptcy filings in April increased 49 percent from a year earlier, the biggest gain so far this year, as the slowing economy prompted more companies to shut down.

Business filings rose to 5,173 during the month, according to statistics compiled from court records by Jupiter eSources LLC in Oklahoma City. Total bankruptcy filings, including those by individuals, were up 31 percent from a year earlier to 93,096, the group said.

Lazard falls

Lazard Ltd, the investment bank led by Bruce Wasserstein, said profit dropped 71 percent, missing analysts' estimates on losses at its Paris bank.

First-quarter net income fell to $16 million, or 14 cents a share, from $55 million, or 47 cents, a year earlier, the New York-based firm said yesterday in a statement.

Cakemaker rises

Sara Lee Corp, the maker of the namesake cakes and Jimmy Dean sausages, said third-quarter profit rose after it increased prices to offset higher wheat and freight costs.

Net income climbed to $211 million, or 30 cents a share, compared with $116 million, or 16 cents, a year earlier, the company said yesterday.

Tullow jumps

Tullow Oil Plc, the UK explorer with the most drilling licenses in Africa, had the biggest gain in almost eight years after saying its Jubilee oil field off Ghana's coast extends over at least 11 kilometers.

Tullow climbed as much as 128 pence, or 17 percent, the biggest increase since June 2000. It traded 16 percent higher at 883 pence as of 8:16 am local time.

Agencies

(China Daily 05/07/2008 page17)