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Business

Business briefs

By
Post Staff Report
Published Oct. 20, 2009, 4:00 a.m. ET

Oil up

Crude oil rose above $79 a barrel to a one- year high as a rally in global equities bolstered confidence that an eco nomic recovery will lift fuel consumption. Oil in creased for the eighth straight session, the longest streak in two years.

Target books

Target has thrown itself into a heated price war on books expected to be top sellers. The discounter said that it will offer some of this season’s most an ticipated book titles at $8.99, in line with recent moves by Walmart.com and Amazon.com.

AIG planes

AIG said it loaned an other $2 billion in govern ment-backed funds to its aircraft leasing unit to help its short-term financ ing needs. The latest loan to International Lease Fi nance Corp. came on top of $1.7 billion AIG loaned in March, which was used to repay debt and other obligations.

Hasbro profit

Hasbro, the nation’s second-biggest toy maker, saw profit rise nearly 9 percent in the third quarter as the com pany trimmed costs amid a slight decline in sales. Earnings rose to $150.4 million, or 99 cents per share, up from $138.2 million, or 89 cents a share, a year ago.

Clothes call

Li & Fung USA paid about $100 million to ac quire Kid’s Headquarters, a New York children’s ap parel maker with $700 million in sales that li censes brands including Calvin Klein, Ecko, Tim berland and Disney. In vestment bank MMG ad vised on the deal.