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* WebMD Corp., a medical-software maker and operator of a consumer Web site, said its fourth-quarter loss narrowed to $199.5 million, or 62 cents a share, from $1.35 billion, or $3.75, a year earlier. Sales fell 11% to $176.4 million.

* Shareholders of Conoco Inc. and Phillips Petroleum Co. overwhelmingly approved the companies’ proposed $15.6-billion merger, removing another hurdle before the companies can create the nation’s third-largest oil corporation.

* Starwood Hotels & Resorts Worldwide Inc. is planning a make-over of its 381-hotel Sheraton chain to boost the unit’s lagging performance and distinguish it from the company’s Westin hotels.

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* United Technologies Corp.’s Carrier unit will eliminate 2,000 jobs and close an International Comfort Products air-conditioning plant in Lewisburg, Tenn., by year’s end.

* Manufacturing groups from the United States, Mexico and Canada have formed an alliance to promote economic growth and trade in the region, the National Assn. of Manufacturers said.

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