Business

Murdoch won't pursue Yahoo

Takeovers

News Corp. Chairman Rupert Murdoch ruled out renewing any discussions to help Yahoo! fend off a possible takeover attempt by Microsoft.

“We're not interested in Yahoo,” Murdoch told reporters Friday at the Allen & Co. conference in Sun Valley, Idaho. Microsoft, based in Redmond, Wash., will probably fail in any attempt to buy Yahoo, he said.

News Corp. and Yahoo were in talks about a combination to block an unsolicited takeover offer from Microsoft, a person familiar with the discussions said in February. Microsoft said this month it may revive its bid if investors back Carl Icahn's effort to oust Yahoo's board and Chief Executive Officer Jerry Yang. Bloomberg News

China

Foreign investment in China during the first half of the year rose 45 percent to $52.4 billion, the government said Friday.

That was well above the 18 percent increase reported for all of 2007.

Foreign investment financed the creation of 14,544 businesses in China in the first six months of the year, the Commerce Ministry said in a one-sentence statement. It gave no reason for the sharp increase in investment.

Foreign companies are looking to China's fast-growing consumer market to help drive sales as demand elsewhere slumps. A lot of money is being put into factories, as well as consumer oriented sectors. Associated Press

Citrus

The U.S. Department of Agriculture has slightly increased its forecast for Florida's orange crop.

The agency had predicted the state would harvest 168.5 million boxes of oranges, each of which weighs 90 pounds. In its final projection of the season on Friday, the agency increased that figure to 169.7 million boxes.

Florida is by far the nation's largest supplier of oranges. If these projections hold, this would be the largest crop in four years, since two heavy hurricane seasons damaged trees and spread crop diseases. Associated Press

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