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BC-Business News Preview,ADVISORY

â¿¿ EARNS-REYNOLDS AMERICAN â¿¿ Reynolds American's fourth-quarter net income falls 54 percent on pension, trademark and other costs. Higher sales of smokeless tobacco offset cigarette volume declines.

INDUSTRY

SPAIN-IBERIA STRIKE

MADRID â¿¿ Spanish airline Iberia presents a plan to cut almost a fifth of its workforce â¿¿ 3,800 workers â¿¿ a week ahead of a first round of strikes by labor unions.

LEAN CUISINE-RECALL

Nestle issues recall for Lean Cuisine mushroom ravioli after reports of glass shards found.

â¿¿ BRITAIN-UBS â¿¿ U.K. regulator fines UBS nearly $15 million for exposing its customers to high-risk investments and for failing to deal properly with complaints that followed.

â¿¿ CANADA-NEXEN-CNOOC â¿¿ Canadian energy producer Nexen says a U.S. government agency has given the final approval required for its $15.1 billion acquisition by China's state-owned CNOOC.

â¿¿ BOEING 787-BATTERY SHIPMENTS â¿¿ A U.N. agency that sets global aviation safety standards is moving to prevent aircraft batteries like the one that caught fire on a Boeing 787 last month from being shipped as cargo on passenger planes.

TECHNOLOGY & MEDIA

â¿¿ NETFLIX-DREAMWORKS ANIMATION â¿¿ Streaming video provider Netflix adds more kids content with DreamWorks Animation cartoon.

INTERNATIONAL

â¿¿ ITALY-FINMECCANICA â¿¿ Italian police arrest the chief executive of Italy's largest defense and aerospace group, Finmeccanica, as part of an investigation into alleged international corruption.

â¿¿ BRITAIN-OLYMPIC SECURITY â¿¿ London Olympic organizers say agreement reached with G4S over failure to provide security.

â¿¿ EUROPE-FINANCIAL CRISIS â¿¿ Senior EU official: No plans to force private depositors in Cypriot banks to take losses. AP Photos YL108-0212131014, YL107-0212131015, YL104-0212131017.

â¿¿ INDIA-ECONOMY â¿¿ India's industrial output drops 0.6 percent in December; slide for 2nd month adds to gloom.

â¿¿ CHINA-US-SANCTIONS â¿¿ China protests U.S. sanctions on companies over alleged arms deals with Iran, North Korea, Syria.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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