IN BRIEF

Harrah's cuts jobs at Atlantic City properties

Harrah's Entertainment has cut hundreds of jobs at three of its four Atlantic City properties due partly to the slowing economy.

Employment figures compiled by New Jersey regulators show hundreds of jobs have been cut at Bally's Atlantic City, Caesars Atlantic City and Showboat Casino Hotel, the Press of Atlantic City reports.

The fourth, Harrah's Atlantic City, added jobs due to a $550 million expansion completed this year that included a new hotel tower.

State regulators' records show Bally's had 502 fewer workers in September compared with the same month last year, while Caesars was down 207 employees.

The four properties had 16,034 workers in September.

The company said the economy, competition from neighboring states and a casino smoking ban is hurting the market, although the smoking ban was recently lifted for a year.

Employers Holdings closes AmCOMP deal

Employers Holdings Inc., a Reno-based holding company for workers' compensation insurance, on Friday said it completed its $223.5 million acquisition of AmCOMP Inc. of North Palm Beach, Fla.

Employers said its operations are focused in the western United States. AmComp, which also offers workers' compensation insurance, has relationships in the Southeast and Midwest.

AmCOMP shareholders will receive $12.15 for each share they hold. The acquisition price includes $35.1 million in debt. Employers financed the purchase through cash and debt.

Kerkorian to lift stake in Delta Petroleum

Delta Petroleum Corp., an unprofitable Colorado oil and natural gas producer, rose as much as 18 percent after Kirk Kerkorian's Tracinda Corp. signaled its plans to expand its stake.

Tracinda, already the company's largest investor, made a tender offer for up to 14 million shares of common stock of Delta Petroleum, which would raise its stake to about 49 percent of the outstanding shares. The offer is for $11 per share, Las Vegas-based Tracinda said in a statement.

There is "significant value" in the oil and natural gas industry given current economic and market conditions and Delta is well-positioned with a "strong asset base," Tracinda said.

Billionaire Kerkorian is the majority stakeholder in MGM Mirage.

Denver-based Delta Petroleum rose 29 cents, or 3.18 percent, to close at $9.40 on the Nasdaq National Market.

HOUSTON

Chevron posts biggest earnings in its history

Chevron Corp. on Friday reported the largest quarterly profit in its 129-year corporate history, joining other oil companies reporting stunning third-quarter earnings gains.

The company earned $7.89 billion in the third quarter, more than double the $3.72 billion profit of a year earlier.

Revenue shot up 43 percent to $78.87 billion from $55.2 billion.

The profit result topped analysts' forecasts and Chevron shares rose 42 cents, or 0.57 percent, to end at $74.60 on the New York Stock Exchange.

NEW YORK

Month of deep drops ends for oil prices

Oil prices ended the week with a modest rally Friday but couldn't erase one ugly October: Crude capped its biggest monthly drop since futures trading began 25 years ago, weighed down as a deflated U.S. economy crushes demand for fuel.

Oil's huge collapse -- prices fell 32 percent for the month -- has stunned oil-producing countries while giving cash-strapped U.S. consumers a rare dose of relief. Pump prices have fallen by half since their summer peak above $4 a gallon -- a drop that's expected to result in a staggering $100 billion in annual savings for American households.

Light, sweet crude for December delivery rose $1.85 to settle at $67.81 a barrel on the New York Mercantile Exchange, after earlier falling as low as $63.12.

Treasury prices mixed as stock gauges rise

Treasury prices were mixed Friday as stocks headed higher.

The 10-year note rose 0.03 points to 100.03 and yielded 3.96 percent, down from 3.97 percent.

The 30-year bond fell 0.53 points to 102.19 and yielded 4.37 percent, up from 4.33 percent.