THE ECONOMY

30-year fixed mortgages inch higher

Rates on 30-year fixed-rate mortgages averaged 6.06% this week, up slightly from 6.03% last week, mortgage company Freddie Mac said.

The average rate on 15-year, fixed-rate mortgages slipped to 5.59% from 5.62%. Five-year adjustable-rate mortgages rose to 5.73% from 5.68%. One-year adjustable-rate mortgages were 5.29%, the same as last week.

These rates do not include add-on fees known as points. For 30-year, 15-year and five-year mortgages, the nationwide average fee was 0.5 of a point. The average fee for one-year adjustable-rate mortgages was 0.6 of a point.

HEALTHCARE

Amgen warns of Enbrel infections

Amgen Inc. and Wyeth's arthritis and psoriasis medicine Enbrel has been linked to deadly infections including tuberculosis and bacterial sepsis, U.S. regulators said.

The companies added the Food and Drug Administration's strictest warning about the risk of infections to Enbrel's prescribing information after hospitalizations and deaths were seen in some patients taking the medicine, according to the agency's website.

Pfizer sells Esperion unit

Pfizer Inc. sold Esperion Therapeutics Inc., a company it bought for $1.3 billion more than four years ago, to a group of venture capital firms that are investing $22.8 million in the company.

Aisling Capital, Alta Partners and Domain Associates led the financing, which Pfizer will share in return for a stake in the company. The terms of the deal weren't disclosed.

FOREIGN

Bolivia seizes control of firms

Bolivia's leftist President Evo Morales decreed a takeover of leading Bolivian telephone company Entel after accusing the company of failing to meet commitments to expand phone network coverage.

He also announced a $6.3-million deal with Spanish oil company Repsol, which will cede control of its Andina subsidiary to the government.

The government will pay more than $37 million to acquire controlling stakes in three other energy companies.

ENTERTAINMENT

Rapper Jay-Z in Live Nation deal

Live Nation Inc. signed a 10-year agreement with rapper Jay-Z that includes live shows, recordings and millions of dollars that the performer can invest in new businesses.

Jay-Z, whose given name is Shawn Carter, received options to buy 500,000 shares of Live Nation stock at $13.73 each, the Beverly Hills concert promoter disclosed in a regulatory filing. Additional financial terms are not being released, the company said.

PUBLICATIONS

Layoffs precede TV Guide sale

TV Guide has laid off its top editor and other senior staff members just before the sale of the magazine's parent company is completed.

Editor in chief Ian Birch was among those fired after shareholders of Gemstar-TV Guide International Inc. approved the sale to Macrovision Corp.

HOME BUILDING

S&P cuts Ryland credit ratings

Ryland Group Inc.'s credit ratings were cut to junk by Standard & Poor's, which said the move reflected "very weak housing conditions" and the Calabasas home builder's limited liquidity.

From Times Wire Services