Short Reports
Four of the nation’s five largest airlines have raised domestic fares by adding a surcharge of $20 per round trip, which they said was needed to cover the higher cost of jet fuel. Continental Airlines moved first, posting the higher domestic fares Thursday. By Friday, the nation’s three largest carriers - United, American and Delta Air Lines - had indicated they would match the increase. Northwest Airlines, the No. 4 carrier, and Trans World Airlines said they were watching the situation.
Wal-Mart’s “Always Low Prices” were too low for strict German regulators, who ordered the U.S. giant and two German rivals Friday to call off their price war on groceries - because it could drive mom-and-pop shops out of business. The German Cartel Office found Wal-Mart - along with the Aldi and Lidl discount supermarket chains- were selling staples such as milk, butter, flour and cooking oil below cost on a regular basis, a practice that is illegal in the highly regulated world of German retailing.
Eddie Bauer, a unit of Spiegel Inc., said Friday it will launch a Web site in October to market its Eddie Bauer children’s clothing line.
Shares of Quaker Oats Co. and Kellogg Co. rose more than 7 percent Friday on rumors the breakfast brand rivals are in merger talks.