Business

Monday, Nov. 02, 2009

IN BRIEF

Business seminar set for Nov. 5

The Gulf Coast Business League is sponsoring a business and financial seminar Nov. 5 in Gulfport.

“Planning Ahead for 2010” will be from 6 to 8 p.m. at the Courtyard Marriott on U.S. 90. Representatives will be there from the Gulf Coast Business League, Mississippi Development Authority, Small Business Administration, Hancock Bank, Mississippi Structural Insulated Panels, BancorpSouth and Southern Mississippi Planning and Development District.

Registration is $10 per couple. Details: 867-9824.

— Sun Herald

Sands looks to raise $2.5B with Hong Kong IPO

U.S. casino operator Las Vegas Sands Corp. aims to raise $2.5 billion through an initial public offering in Hong Kong this month to help repay massive debts and restart languishing casino projects in Macau, a document showed Monday.

Sands won preliminary approval from Hong Kong regulators last week to move ahead with its IPO.

According to deal terms e-mailed to investors and obtained by The Associated Press, Sands plans to use proceeds from selling a stake in its Macau business to pay down its heavy debt load.

— The Associated Press

Helped by swine flu, Clorox profit rises

Higher prices and germ-wary shoppers who rushed to stock up on disinfectants helped The Clorox Co. earn 23 percent more in the first quarter this year than last, the company said Monday.

The flu pandemic drove shipments of Clorox disinfectant wipes to an all-time record, said analyst Douglas M. Lane, who rates shares of Clorox “Buy.” But executives said the company’s commodity costs will be higher than expected because the price of oil is rising.

— The Associated Press

Toyota discloses U.S. findings on floor mats

Toyota said its vehicles are not at risk of accelerating out of control unless the driver’s side floor mat is incorrectly installed or is not meant for that vehicle.

The Japanese automaker said the finding is the result of a U.S. government investigation into the possibility of unintentional acceleration in some of its vehicles.

— The Associated Press