Industries

P&G Chief Bob McDonald Pins Growth on Closer Shave Than a Mumbai Barber Procter & Gamble Co.’s Bob McDonald is going undercover in Latin America next week.

Food Recalls From Salmonella May Rise to 10,000 in Industry 'Wake-Up Call' Salmonella contamination at a Nevada food-flavoring plant may trigger the recall of as many as 10,000 products, according to a Consumers Union scientist.

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Crude Oil Declines in New York Trading as Dollar Gains Against The Euro Oil fell in New York as the dollar strengthened against the euro, boosting the appeal of commodities after a report showed an unexpected narrowing of the U.S. trade deficit.

BP to Pay $7 Billion for Devon's Assets in Gulf of Mexico, Brazil, Caspian BP Plc will pay Devon Energy Corp. $7 billion for assets in Brazil, the Gulf of Mexico and Azerbaijan, adding fields that may extend its production lead over Exxon Mobil Corp.

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JPMorgan Chase Said to Form China Banking Joint Venture With First Capital JPMorgan Chase & Co. will set up a securities joint venture in China with First Capital Securities Co., two people with knowledge of the matter said.

GMAC May Have Overpaid CEO Carpenter, Senior Executives, TARP Panel Says GMAC Inc., the auto and home lender rescued by the U.S. government, may have overpaid its top executives after receiving taxpayer funds, according to a report by the panel overseeing the Troubled Asset Relief Program.

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Obama Vows to Curb Waste, `Massive' Insurer Subsidies to Fund Health Bill President Barack Obama made his case for an overhaul of the U.S. medical system to Missouri voters, emphasizing his efforts to curb waste and fraud in government health programs.

Personalized Genetic-Based Medicine Spurred by Medco's Cost-Saving Tests Medco Health Solutions Inc., the second-biggest U.S. manager of drug benefits, is encouraging doctors to use genetic tests to determine whether drugs will work for particular patients -- saving money and reducing harm caused when prescriptions are wrong.

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Fed Shoulders AIG Japan Mortgage Losses to Ease Sale of Alico to MetLife The Federal Reserve Bank of New York and American International Group Inc. agreed to shoulder as much as $450 million in losses tied to the insurer’s Japan real estate bets as part of the sale of a division to MetLife Inc.

Hannover Re Resumes Dividends After Fourth-Quarter Profit Beats Estimates Hannover Re, Germany’s second- biggest reinsurer, plans to resume dividend payments after it reported a surge in fourth-quarter profit, helped by a rebound in investment income.

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Home Equity Loans That Fueled U.S. Consumer Spending Make `Modest' Rebound John Hale’s four-bedroom house near Seattle is worth about $2 million and is 90 percent paid for. It still took him nine months to find a bank that would give him a $250,000 home equity line of credit.

U.S. Foreclosure Filings Climb at Slowest Pace in Four Years in February U.S. foreclosure filings rose at the slowest pace in four years in February as the government sought to reduce record bank seizures, RealtyTrac Inc. said.

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Elle Publisher Lagardere Falls Most in 10 Months After Media Profit Slides Lagardere SCA, the publisher of Elle magazine and the “Twilight” series of vampire-themed novels, fell the most in about 10 months after reporting 2009 profit that missed analysts’ predictions.

Battery Ventures Completes $750 Million Fund, Biggest So Far This Year Battery Ventures completed a $750 million venture-capital fund, the biggest so far this year, raising money to invest in computing startups and clean-energy deals.

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IATA Cuts Airline-Industry Loss Estimate by Half to $2.8 Billion on Travel Airlines worldwide will lose a collective $2.8 billion this year, half the previous forecast, as emerging markets lead a rebound in traffic, the International Air Transport Association said today.

BMW to Maintain Dividend as Full-Year Net Income Falls Less Than Estimated Bayerische Motoren Werke AG, the largest manufacturer of luxury cars, reported a smaller-than- expected decline in full-year profit and maintained its dividend to signal a recovery in the high-end market.

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