ALSO

* British Airways and AMR Corp.’s American Airlines will announce a “major worldwide airline initiative” Monday morning in London, but the carriers gave no details. An Australian publication said the two companies will add Qantas Airways Ltd. and Cathay Pacific Airways Ltd. to their proposed alliance, which is being reviewed by British and U.S. regulators.

* NEC Corp., Japan’s biggest semiconductor maker, said it expects to post a net loss of $151 million in the six months ending in September--its first loss in five years--compared with a $270-million profit a year ago. NEC joins its industry peers in issuing warnings of sharp losses because of the slide in chip prices.

* Freddie Mac, the second-largest buyer of U.S. home mortgages, said it will acquire a property management and sales unit of franchiser Cendant Corp. for an undisclosed price. Freddie Mac will merge Cendant Asset Services with its HomeSteps real estate unit, which refurbishes and sells homes acquired through foreclosures.

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