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Liam Payne was 'cycling through periods of ruinous behavior' prior to his tragic death at 31, source says
Business

BUSINESS BRIEFS

By
Post Wire Report
Published Feb. 20, 2009, 5:55 a.m. ET

No class

A lawsuit claiming people were fleeced by the way Microsoft Corp. advertised some Windows XP comput ers as capable of run ning the new Vista op erating system is no longer a class action, a federal judge has ruled. Judge Marsha Pechman said individuals could still sue.

Spam a lot

Hormel Foods Corp., maker of Spam meat and Dinty Moore stews, re ported profit of $81.4 million, or 60 cents per share, as recession-hit consumers bought its products. Analysts ex pected profit of 51 cents.

$431M loan

At a time when US and European banks are overly cautious about ex tending financing, McDonald’s Corp. said it secured a 5-year, $431.2 million loan from three Japanese banks, the Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mit sui Banking Corp.

Doubled up

Fidelity Investments, the world’s largest mu tual-fund company, more than doubled its stake in Citigroup Inc. in the fourth quarter, ahead of a 61 percent slide in the stock this year. Fidelity now holds 171 million shares, or 3.1 percent of Citi.

Top cop

The Securities and Exchange Commission yesterday appointed former federal prose cutor Robert Khuzami to lead its enforcement division, the unit in charge of catching fraud. Khuzami re places Linda Thomsen, who is leaving.