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Briefs

Investors like Abu Dhabi stake in Citigroup

By Times wires
Published November 28, 2007

NEW YORK - Wall Street rebounded Tuesday after the Abu Dhabi Investment Authority said it will invest $7.5-billion in Citigroup Inc. - a vote of confidence for the nation's largest bank, which has suffered severe losses amid the ongoing crisis in the mortgage market. The Dow Jones industrials rose 215.00, or 1.69 percent, to 12,958.44, in yet another volatile session as investors were hopeful the financial sector can remain healthy despite the ongoing credit crisis. Broader stock indexes also moved higher, with the S&P 500 index up 21.01, or 1.49 percent, at 1,428.23, and crept back into positive territory for the year. The technology-heavy Nasdaq composite index up 39.81, or 1.57 percent, at 2,580.80.

Cigarette maker won't run print ads
NEW YORK - The R.J. Reynolds Tobacco Co., which has been under intense pressure from anti-smoking groups and members of Congress over print ads for its cigarettes, said Tuesday it would not advertise its brands in newspapers or consumer magazines next year. The company had been criticized sharply for both its colorful and feminine Camel No. 9 ads and also for a recent ad in Rolling Stone.

Prosecutors drop Amazon subpoena
MADISON, Wis. - Federal prosecutors have withdrawn a subpoena seeking the identities of thousands of people who bought used books through online retailer Amazon.com Inc., newly unsealed court records show. The withdrawal came after a judge ruled the customers have a First Amendment right to keep their reading habits from the government. Amazon said in court documents it hopes the decision will make it more difficult for prosecutors to obtain records involving book purchases.

Delta adding $20 to round-trip fares
ATLANTA - Delta Air Lines Inc., the third-largest U.S. carrier, increased most domestic round-trip fares by $20 to help cover surging fuel prices. The increase in leisure fares purchased at least 14 days before travel, and business tickets bought closer to flights, was put in place Monday night, Delta spokeswoman Betsy Talton said. If other airlines adopt the Delta increase, it would be the eighth by major U.S. carriers since Sept. 1.

Production puts Toyota near GM
TOKYO  - Japan's top automaker Toyota Motor Corp. said Tuesday its global production climbed 14.4 percent in October, moving it closer to overtaking General Motors of the United States as the world's biggest automaker. Four other major Japanese automakers also had production gains for the month. Toyota said its worldwide production rose to 905,264 vehicles in October, while its domestic output rose 11 percent to 491,902 units.

[Last modified November 27, 2007, 23:10:31]