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* Philip Morris Cos. is increasing its wholesale cigarette prices by a smaller-than-expected 5 cents per pack largely to cover a tax increase, effective Jan. 1, analysts said. Rivals including R.J. Reynolds Tobacco Holdings Inc. and British American Tobacco are expected to follow.

* Kraft Foods Inc., which is integrating Nabisco Holdings Corp. into its business, is offering some U.S. workers early retirement in a program that is expected to eliminate 1,000 jobs.

* Interbrew’s $1.6-billion purchase of Brauerei Beck & Co., Germany’s No. 4 brewer, won European Commission approval after Europe’s biggest brewer by volume said it would scale back its United Kingdom business. Interbrew agreed to buy the closely held maker of Beck’s beer in August to expand in the U.S. and Germany.

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