British companies offer greater pension investment choice: report
London: Companies in the UK are offering their staff greater options on how to invest their pensions funds.

Consultants Watson Wyatt have found that more than 95 per cent of firms running defined contribution pensions offer a range of investment options to their members, against 70 per cent in 2000.

However, the consultants said that while a wider choice of investments is welcome it could lead to people making wrong decisions and taking on inappropriate risks.

The consultants said the solution lay in providing members with an adequate but not excessive range of funds, backed up by good communication and education.

Defined contribution schemes pay out benefits linked to moves in financial markets. Trade unions have criticised them for putting all market risk on the shoulders of employees.
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Barnes & Noble profit falls, reaffirms outlook
New York: Leading US bookseller, Barnes & Noble Inc, has reported a quarterly fall in profit due to higher expenses and slow demand for titles in its 'bestsellers' category.

However the book retailer has retained its previous forecast for consolidated profit of $1.51 to $1.56 per share in the fourth quarter and $1.96 to $2.04 for the full year.

Barnes and Nobles' profit in the third-quarter ended October 30 fell to $7.6 million, or 10 cents a share, from $10.2 million, or 14 cents a share, a year earlier.

Last year, Barnes & Noble had benefited in a large way from the excitement caused by the publication of a new Harry Potter novel and the memoir of former US first lady, Hillary Clinton, aprt from books on the Iraq war.
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Wrigley acquires Kraft's candy, mint for $1.5bn
Chicago: Chewing gum maker Wrigley is acquiring the Life Savers and Altoids candy and mint businesses of Kraft Foods for $1.5bn in cash.

The deal benefits both the companies as the businesses are in line with their core competencies. Kraft Foods, which is getting a better price than expected, saw its shares rise 2.6 per cent on INET.

The deal will result in an after-tax book loss of $370m, or 22 cents a share, for Kraft, the company, which makes Oreo cookies and Kraft Macaroni & Cheese, said. The deal also includes the Sugus and Trolli brands.

The purchase price will be offset in part by $300m in tax benefits associated with amortisation of intangible assets, Chicago-based Wrigley said.

The acquisition is expected to lower Wrigley's earnings slightly in the first year after it is completed before it adds to earnings.
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