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BC-Business News Digest

NEW YORK â¿¿ Procter & Gamble's turnaround is still a work in progress. The world's largest consumer product maker says its third-quarter net income rose 6 percent, helped by cost cuts and improvement in North America. But P&G's fourth-quarter outlook comes in short of Wall Street's expectations thanks to a mixed response to its new product introductions and what the company calls "choppy" market conditions that led to modest revenue gains. By Retail Writer Mae Anderson.

AP Photo.

â¿¿ BRITAIN-EARNS-BARCLAYS â¿¿ Barclays PLC has reported a return to profit in the first quarter, as it tries to restructure and get past recent scandals.

â¿¿ SWITZERLAND-EARNS-CREDIT SUISSE â¿¿ Swiss bank Credit Suisse Group has reported first quarter profits of 1.3 billion Swiss francs ($1.37 billion), a sharp rebound from the same period a year ago.

â¿¿ NETHERLANDS-EARNS-HEINEKEN â¿¿ Heineken NV says its sales and profits rose in the first quarter, due to recent acquisitions. The Dutch brewer blamed austerity policies for weak European markets, and said growth in revenues for the full year would not be quite as strong as it hoped. It has not set any specific target.

INDUSTRY:

PILOT FLYING J-FBI

NASHVILLE, Tenn. â¿¿ Tennessee's Haslam family â¿¿ Gov. Bill Haslam and Cleveland Browns owner Jimmy Haslam â¿¿ is furiously trying to control the damage following a federal investigation into the family business that could threaten to unravel decades of growing wealth and influence that spans business, sports and politics in the state and beyond. By Erik Schelzig.

AP photos.

COUNTERFEIT PILLS-FDA

WASHINGTON â¿¿ U.S. health officials are making a high-tech screening device available in Africa to help spot counterfeit malaria pills in hopes that the technology may eventually be used to combat the fake drug trade worldwide. By Health Writer Matthew Perrone.

â¿¿ BEST BUY-EXECUTIVE COMPENSATION â¿¿ The CEO of Best Buy, turnaround expert Hubert Joly, earned compensation worth $19.6 million in his five months on the job in 2012.

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