IN BRIEF

Retail gasoline prices heading down nationally, data show

Retail gasoline prices headed downward in most places to begin one of the country's busiest travel weeks, with more than 33 million people expected to hit the road for the Thanksgiving holiday.

Americans are remaining closer to home because of anxiety about the economy and demand for gasoline is weaker now than it was last year at this time.

That's telling because a gallon of gasoline then cost only $1.93 as the economic crisis unfolded in 2008.

Unlike last year, however, gasoline is not falling sharply and though prices fell overnight, it still cost about $2.64 per gallon on average, according to Department of Energy data and also auto club AAA, Wright Express and Oil Price Information Service.

Gasoline prices were flat or falling in most places, but rose nearly 4 cents across the Midwest, a report Monday from the Energy Information Administration shows.

In Las Vegas, a gallon of regular self-serve unleaded gasoline averaged $2.695 on Monday, AAA said in its Daily Fuel Gauge Report.

That's up 3 percent from $2.619 a month ago and up 27.6 percent from $2.112 a year ago, AAA said.

MOUNT LAUREL, N.J.

Lower grain-ingredient costs help lift Campbell Soup profits

Campbell Soup Co. reported Monday that its first quarter profit rose 17 percent with the help of lower costs from increased efficiency in getting its products from its plants to store shelves, as well as lower prices for grain ingredients.

But revenue fell 2.1 percent to $2.2 billion with dips in sales for most of its categories, ranging from condensed soup to Prego pasta sauce.

Earnings were $304 million, or 87 cents per share, in the first quarter, up from $260 million, or 70 cents per share, a year ago. But the company says the year-ago profit figure included one-time charges, including some related to closing plants in Australia and Canada and restructuring management, that made it look worse than it was. Excluding the year-ago charges, adjusted earnings per share was 76 cents.

News of possible takeover bid helps push Cadbury shares up

Cadbury Plc rose to a record in London trading after Nestlé SA was said to weigh a takeover, The Wall Street Journal said Hershey Co.'s controlling trust wants the U.S. company to make an offer, and Reuters reported that Kraft Foods Inc. may raise its bid.

Kraft, led by Chief Executive Officer Irene Rosenfeld, made an unsolicited 10.3 billion-pound ($17 billion) approach for Cadbury two months ago. The world's second-largest food company may increase that offer if rival bidders emerge, Reuters said late Sunday, citing a person it didn't identify.

Hershey's controlling trust wants the company to make a $17 billion offer, The Wall Street Journal reported Nov. 20. Nestlé is reviewing its options with bankers and may decide against a bid, said two people with knowledge of the matter, who asked not to be identified because the talks are private.

MILWAUKEE

Impairment charge contributes to quarterly loss for Tyson

Tyson Foods said on Monday that a hefty impairment charge in its beef business left it with a loss for the fourth quarter.

But all of its business units, including chicken and pork, were profitable, when excluding the $560 million noncash charge.

Springdale, Ark.-based Tyson lost $455 million, or $1.22 per share in the three months ended Oct. 3. That compares with a profit of $48 million, or 13 cents per share, a year ago.

Excluding the impairment charge of $1.50 per share, Tyson earned 28 cents per share.

Sales rose 0.1 percent to $7.21 billion from $7.2 billion.

DETROIT

Judge sentences 'spam king' to term of four years in prison

A West Bloomfield, Mich., man dubbed by the feds as the "spam king" was sentenced Monday by a federal judge to more than four years for a stock-fraud scheme that netted him $2.7 million in the summer of 2005.

Alan Ralsky, 63, pleaded guilty in June to conspiracy to commit wire fraud, mail fraud and to violating the federal CAN-SPAM Act, which bans misleading subject lines in e-mail and the sending of commercial e-mail messages that appear to be from friends.

An indictment charged that Ralsky, his son-in-law, Scott Bradley, and others used unsolicited e-mail to pump up the price of penny stock in Chinese companies to artificially high prices and then sold it. Bradley and two other men are being sentenced Monday afternoon.

They reaped huge profits for themselves, the indictment charged, and left Internet subscribers who purchased the stock holding the bag.

His operation illegally maximized the amount of spam that could be sent while evading spam-blocking devices and tricking recipients into opening and acting on advertisements, prosecutors said.

"With today's sentence of the self-proclaimed 'Godfather of Spam,' Alan Ralsky, and three others who played central roles in a complicated stock spam pump and dump scheme, the court has made it clear that advancing fraud through abuse of the Internet will lead to several years in prison," said U.S. Attorney Terrence Berg.

"I commend the FBI, the Postal Inspection Service, and the IRS Criminal Investigative Division for their determined and careful investigation in this case which led to today's result," Berg added.

NEW YORK

Survey: Economists see bottom for job losses in first quarter

Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, a new survey shows.

While signs have pointed to the end of the recession, joblessness remains rampant. The national unemployment rate jumped to 10.2 percent in October, the highest in 26 years. About 9 million people currently receive unemployment benefits.

The November outlook by the National Association for Business Economics, which is set to be released Monday, shows economists expect net employment losses to bottom out in the first quarter of next year. Employers are seen starting to add to their payrolls after that.

Wal-Mart Stores will cut prices during Thanksgiving weekend

Wal-Mart Stores Inc., the world's largest retailer, will reduce prices of Nintendo Wii consoles, Sony Bravia liquid-crystal-display televisions and Hewlett-Packard laptops during the Thanksgiving weekend in the U.S.

The Bentonville, Ark.-based retailer will begin its Black Friday sale at 5 a.m. on Nov. 27, according to a statement on its Web site Monday. Black Friday, which occurs the day after Thanksgiving, opens the traditional holiday shopping season in the United States.

Walmart.com, the online retailer, will offer as much as a 40 percent discount on 50 items including the Nintendo Wii console and LCD televisions on Thanksgiving Day, it said.