BUSINESS BRIEFS
Ford revises loss to $254 million
Advertiser News Services
NEW YORK — Ford Motor Co. said yesterday its second-quarter loss was more than double what the automaker previously reported because of higher-than-expected pension costs, and added that its luxury car division won't turn a profit this year based on recent sales trends.
In a filing with the Securities and Exchange Commission, Ford said it revised its loss to $254 million, or 14 cents per share, from the previously announced loss of $123 million, or 7 cents per share. That contrasts with a profit of $946 million, or 47 cents per share, posted in the second quarter of last year.
MERCK, VIOXX CLEARED IN DEATH
LOS ANGELES — A California jury yesterday cleared pharmaceutical company Merck & Co. of liability in the case of an elderly man who said his heart ailments were caused by the drug maker's once-popular painkiller Vioxx.
After deliberating for about five hours in California's first trial over the drug, the 12-person jury determined that Merck was not negligent, did not conceal information and that Vioxx did not cause Stewart Grossberg's health problems.
Merck has now won five Vioxx cases, including one last month in New Jersey, and has lost three. Another trial began this week in federal court in New Orleans.
INDIA TIGHTENS CHILD WORK RULES
NEW DELHI — India's government is banning the employment of children under age 14 as domestic servants or workers in hotels, restaurants and small teashops in a bid to protect young people from poor families.
The effectiveness of the order issued Tuesday remains to be seen. India already bars child labor in hazardous industries, but the rules are widely ignored and tens of thousands of children continue making matches, incense sticks and firecrackers, and weaving carpets.
According to government figures, nearly 13 million children work in India.
