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FTC fights court's ruling on grocers deal

By TIMES WIRES
Published August 18, 2007

WASHINGTON

Federal regulators on Friday appealed a court ruling that allowed Whole Foods Market Inc. to purchase its rival organic grocer Wild Oats Markets Inc. The Federal Trade Commission is seeking to block the $565-million acquisition, arguing that it would stifle competition and lead to higher prices for premium organic foods. U.S. District Judge Paul Friedman rejected the arguments and the FTC's request to block the transaction.

MIAMI

Equity group buys into cruise line

Apollo Management LP has agreed to make a $1-billion cash equity investment in the parent company of Norwegian Cruise Line, making the private equity group a 50 percent owner of the cruise operator. The investment announced Friday will be in the form of common stock alongside NCL Corp. Ltd.'s sole shareholder, Star Cruises. Under the deal, Apollo will name a majority of the NCL board with certain consent rights retained by Star Cruises, which will keep 50 percent ownership and its existing stock in NCL.

DAYTON, Ohio

Delphi, union reach agreement

Auto-parts supplier Delphi Corp. and the United Steelworkers have reached a tentative agreement covering some 900 Ohio workers, the union local said Friday. A union official said that details of the agreement are being withheld pending meetings with the membership, which will vote on ratification. If ratified, the contract runs to Sept. 14, 2011.

FRANKFURT, Germany

Skype users still having problems

Users of Skype in Asia and parts of Europe were able to log on and use the free phone service Friday, nearly 24 hours after a software bug hit the popular program. The company, a division of eBay Inc., said that while some of its estimated 220- million users had successfully connected, others still were unable to do so.

TAMPA

Mortgage lender axes 59 workers

Bankrupt HomeBanc Mortgage Corp. is laying off 59 Tampa-area employees as part of a workforce reduction of 183 across the state. The Atlanta-based lender expanded during the housing boom, but retracted as the cycle turned negative. Countrywide Financial Corp., with widely publicized home lending troubles of its own, said it will buy some of HomeBanc's branches.

NorthStar Bank opens in Tampa

It's the new bank of the week: NorthStar Bank has opened its first office, moving into digs in the Rivergate Tower in downtown Tampa. President Monty Weigel promises a "consultative" rather than transactional approach. Directors include philanthropist Kiran Patel, lawyer Marty Traber and Sykes Enterprises founder John Sykes.

Winter Garden

Orange harvest looking stronger

Florida will produce 40 percent more oranges in the harvest beginning in October than last season, said orange-juice processor and commodity trader Louis Dreyfus Citrus Inc. The state will produce 180-million 90-pound boxes for the 2007-2008 season, Louis Dreyfus Citrus told clients.

[Last modified August 18, 2007, 00:47:06]