BUSINESS BRIEFS
Holiday sales disappointing
Associated Press
NEW YORK — Early holiday sales reports are weak, with Target Corp., the nation's No. 2 retailer, warning that its sales may have fallen in December.
A broad gauge of consumer spending released by MasterCard Inc., which includes estimates for spending by cash and checks, showed a modest 2.4 percent increase in holiday spending, excluding gasoline and auto sales.
Target cut its sales projections Monday, saying it expects comparable store sales for the five weeks ending Jan. 5 to be between a 1 percent increase and a 1 percent decrease, a shift from the 3 to 5 percent increase the chain had forecast for December.
TOYOTA HAS EYES ON BEING NO. 1
NAGOYA, Japan — Toyota plans to sell 9.85 million vehicles worldwide in 2008, the company said yesterday, setting an ambitious target despite worries about a slowing U.S. car market, as it tries to become the world's top automaker.
Recent growth has put Toyota Motor Corp. on track to beat U.S.-based General Motors to become the world's largest automaker by sales. GM has said it estimates this year's sales to total 9.3 million vehicles, against Toyota's estimate of 9.36 million sales.
GM has not given a forecast for the number of vehicles it expects to produce or sell in 2008.
ARREST OF 3 PFIZER OFFICIALS ORDERED
KANO, Nigeria — A judge in Nigeria has ordered the arrest of three top officials of the U.S.-based drug company Pfizer Inc., saying they failed to honor an order to appear in court over a $2 billion suit the company is facing for a 1996 drug trial.
The now-controversial trials for the antibiotic Trovan were conducted in Kano on 200 children during a meningitis epidemic in 1996. Nigeria alleges Pfizer conducted the trials illegally, without the full knowledge and consent of the government and the parents, causing the death of 11 children and injury to dozens of others.
Make a difference. Donate to The Advertiser Christmas Fund.
