Coke plans China health drink venture

Have a Coke and an herbal infusion?

Coca-Cola Co. has announced the opening of a research center for health-and-wellness drinks at the China Academy of Chinese Medical Sciences in Beijing. The launch makes Coke the first international company to start a research facility at the institution, the Atlanta company said. Drinks will be made from traditional Chinese herbs and flowers such as chrysanthemum and myrobalan, a prunelike fruit rich in antioxidants.

A pair of Taiwanese brands – Master Kong Co. and Uni-President Co. – dominate the market for health beverages in China. But multinational consumer-products companies such as Coke are increasingly exploring traditional Chinese medicine to create modern products, just as major pharmaceutical companies are tapping herbs for drug research and development.

For example, Estee Lauder Cos., of New York, opened its own research center in Shanghai in late 2005.

The new four-year contract between General Motors Corp. and the United Auto Workers will transfer an estimated $46.7 billion worth of retiree health care liability from to the union and significantly reduce labor costs, the company said Monday.

“The 2007 national negotiations were in many ways the most complex and comprehensive that we’ve been engaged in,” Rick Wagoner, GM chief executive and chairman, said. It was the first time GM had detailed its savings from the agreement.

GM shares fell $1.88, or 4.4 percent, to $40.76 in midday trading after rising earlier as high as $42.84.

The agreement includes a company-funded, union-run trust called a Voluntary Employees Beneficiary Association and must be approved by federal courts. The trust would take over health care obligations Jan. 1, 2010 or on the date which any appeals or court challenges are exhausted, the company said.

Airbus finally delivered its first A380 superjumbo, which includes luxury suites equipped with double beds.

Singapore Airlines took delivery of the double-decker jet, the world’s largest passenger plane, almost two years late.

“Until now, the A380 has been Airbus’ baby. Today we are here to celebrate this beautiful mature aircraft coming of age,” said Airbus President Thomas Enders at a handover ceremony that included a sound and light show.

Singapore Airlines Chief Executive Chew Choon Seng said it was “well worth the wait.”