Business

Chilean airlines will add 32 Dreamliners

SANTIAGO, Chile - Chile's dominant carrier LAN Airlines SA said Friday it will add 32 Boeing 787 Dreamliner long-haul aircraft to the company's fleet between 2011 and 2016, marking the largest investment in the company's history.

LAN said it will buy 26 aircraft, and acquire six more through leasing contracts, spending about $3.2 billion.

The Santiago, Chile-based airline said its board also approved 10 Dreamliner purchase options for 2017 and 2018.

The 787 Dreamliner is expect to begin commercial operations by the end of 2008. The fuel-efficient, ecologically friendly airplane has the capacity to seat 250 to 300 passengers, in two classes.

Boeing Co. unveiled its first fully assembled 787 earlier this month, and the Chicago-based company already has more than 600 orders from customers lured by the jet maker's promise that the midsize, long-haul aircraft will burn less fuel, be cheaper to maintain and offer more passenger comforts than comparable planes flying today.

Utility


GE reports profit, desire to leave mortgage work

HARTFORD, Conn. - General Electric Co., the industrial, finance and media conglomerate, reported Friday its second-quarter profit rose 9.6 percent and said it was getting out of the U.S. mortgage business.

The parent of the NBC TV network earned $5.42 billion, or 53 cents a share, in the three months ended June 30, up from $4.95 billion, or 48 cents a share, a year ago. The rise was led by its oil and gas, aviation, energy and commercial finance businesses.

Currency


U.S. dollar rebounds from all-time low

NEW YORK - The dollar clawed back from an all-time low against the euro Friday after a dismal showing this week amid worries about the strength of the U.S. economy.

The 13-nation euro broke through the $1.38 mark for the first time Friday, climbing as high as $1.3813 before falling back to $1.3789 in late New York trading. The euro bought $1.3783 late Thursday.

The dollar, which has been under pressure all week, weakened Friday after the U.S. Commerce Department reported that retail sales in June fell by 0.9 percent compared with the previous month.

Retail


Energizer to purchase Playtex Products

ST. LOUIS - Energizer Holdings Inc., known for its infinitely running bunny, will buy Playtex Products Inc. for $1.16 billion as the company expands its portfolio of personal care products.

Investors liked the news: Playtex shares soared 15.8 percent, or $2.45, to $17.97. Energizer shares rose almost 1 percent, or 94 cents, to $107.67. St. Louis-based Energizer is offering $18.30 per share for Playtex Products Inc.

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