“Headlines: Borders hires 3 executives”

Posted: 25 Aug 2010 02:11 AM PDT

RETAIL: Borders hires 3 executives

Borders Group added to its leadership team in Ann Arbor with new hires from the world of fashion, toys and automotive retail to help in its turnaround.

Michele Delahunty-Cloutier was hired as chief merchandising officer. She brings 22 years experience with such chains as Chico's and Ann Taylor. Eric Kovats becomes regional vice president for the Southeast and Beatrice Vicente becomes regional vice president for the West Coast.

Kovats has a background in automotive retail and the jewelry business, while Vicente comes with experience from Toys 'R' Us and Target .

Barnes & Noble has 1Q loss, cuts outlook

Barnes & Noble posted a first-quarter loss on legal expenses related to its proxy fight with billionaire financier Ron Burkle and cut its annual earnings outlook on costs related to the fight.

The results missed expectations and shares fell Tuesday. But the struggling bookseller reported it was making inroads with its online bookstore and e-book reader Nook. Some analysts said that was a sign of optimism as the company can make up for falling sales in retail stores online.

The largest U.S. traditional bookseller said it lost $62.5 million, or $1.12 per share, in the quarter ending July 31. Last year during the same period it earned $12.3 million, or 21 cents per share.

INTERNET: Microsoft handling Yahoo site searches

Microsoft's technology is now processing all the search requests on Yahoo's Web site in the U.S. and Canada, completing a long-awaited leap that creates a more formidable challenger to Google in the most lucrative part of the online advertising market.

Tuesday's shift marks the biggest step yet in a partnership that Microsoft and Yahoo forged 13 months ago after spending years trying to catch up to Google on their own, only to fall further behind.

FOOD: Burger King's 4Q net income falls nearly 17%

Burger King Holdings's fourth-quarter net income fell nearly 17% as sales slipped and costs for ingredients and packaging climbed.

The fast-food chain said Tuesday that it earned $49 million, or 36 cents per share during the period that ended in late June. That compares with last year's net income of $58.9 million, or 43 cents per share.

The company also got a smaller tax benefit than last year. Revenue slipped 1% to $623 million.

HEALTH CARE: FDA warns joint-replacement business

A Johnson & Johnson business that makes joint replacements has been warned by the Food and Drug Administration that it is illegally marketing two products.

The FDA notified Johnson & Johnson's DePuy Orthopaedics that it is selling one product that was never approved for sale and is selling another product for uses that have not been specifically approved.

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