Icahn hedge funds post first loss since inception

Billionaire Carl Icahn's activist hedge funds posted their first quarterly decline since they opened three years ago because of volatile markets and losses on stocks including WCI Communities Inc and Lear Corp.

IN BRIEF (Page 16)

Business International

Wal-Mart likely to feel pinch on cuts

Wal-Mart Stores Inc, the world's biggest retailer, may report its smallest profit increase in five quarters after Chief Executive Officer H. Lee Scott lowered prices to lure shoppers squeezed by rising gasoline costs and mortgage payments.

Indian output growth slows

India's industrial production grew at the slowest pace in 11 months in September as decade-high interest rates crimped consumer demand and a stronger currency made exports less competitive.

Hershey may rise on axing directors

Hershey Co, the US chocolate maker whose chief executive officer resigned last month, may rise in New York trading after the trust that controls the majority of its shares replaced eight of 11 company board members.

Biz people

Tycoon warns of energy focus

IN BRIEF (Page 16)

Business International

TV hit gives Disney boost

With the success of Walt Disney Co's first High School Musical television movie, Chief Executive Officer Robert Iger saw an opportunity to extend the hit across theme parks, merchandising and the cable-TV division.

Siemens suffers first loss in six years

Siemens AG, Europe's largest engineering company, reported its first loss in six years because of costs to sell its automotive division and a penalty tied to a bribery investigation that has engulfed Siemens for a year.

InBev profit up 8.4%, fails to meet estimates

InBev NV, the world's largest brewer, said third-quarter profit rose 8.4 percent, missing analysts' estimates.