Business Briefing

Anheuser-Busch may reject offer, report says

Anheuser-Busch Cos., the biggest U.S. brewer, may be preparing to reject InBev’s $46.3-billion takeover offer and announce plans to lower costs and sell off divisions.

The St. Louis maker of Budweiser beer may say soon that the Belgium firm’s $65-a-share bid is inadequate, the Wall Street Journal reported, citing unidentified people familiar with the matter.

The company may also say it plans to eliminate $1 billion in costs over four years, pay a special dividend and study the possible sale of its theme-park division.

American details flight cutbacks

American Airlines will cut back flying this year at many airports, including hubs in Dallas and Chicago, as it attempts to cope with record high fuel prices.

The airline said it would reduce departures at its Chicago O’Hare Airport hub by 28 flights and sister airline American Eagle would cut 34 flights, beginning in September. At Dallas-Fort Worth International Airport, American will cut 19 departures and Eagle will ground 23 flights.

ILFC may order 300 jetliners

International Lease Finance Corp., the world’s biggest aircraft lessor, said it may order 300 jetliners from Boeing Co. and Airbus to meet demand from airlines that can no longer afford to buy their own planes.

ILFC, a Century City unit of American International Group Inc., said it might purchase 150 single-aisle aircraft from each manufacturer.

Google names financial chief

Google Inc. named telecommunications executive Patrick Pichette to be its chief financial officer as the company expands into the mobile-phone business.

Pichette, 45, previously worked as president of operations at Canadian phone company BCE Inc.

Labels ordered to pay legal fees

Record labels including Vivendi’s Universal Music Group were ordered by a judge to pay more than $100,000 in legal fees to an Oregon woman after they dropped their music-piracy lawsuit against her.

A U.S. District judge in Portland approved the fee award totaling $107,834 to Tanya Andersen on Tuesday, three years after the disabled single mother was sued over alleged copyright infringement. Her lawsuit accusing the industry of racketeering and fraud is pending.

Kroger recalls beef for E. coli

Kroger Co. recalled an undetermined amount of ground beef from stores in Michigan and Ohio because the meat might be contaminated with E. coli bacteria, the U.S. Department of Agriculture said.

Mercury settles with California

California Insurance Commissioner Steve Poizner said Mercury Insurance Group has settled alleged claims handling violations.

Mercury agreed to pay the state Department of Insurance $300,000 in penalties, legal fees and enforcement costs, he said.

From Times Wire Services