China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Anheuser-Busch sees profit above analysts' view
CHICAGO (Reuters) - Anheuser-Busch Cos Inc (BUD.N) on Friday forecast 2008 earnings above analysts' estimates as it laid out a cost-cutting plan and explained its reasons for rejecting InBev NV's INTB.BR $46.3 billion bid.
Anheuser-Busch, the largest U.S. beermaker, expects 2008 earnings per share to increase in the low double-digits, exceeding the average analyst estimate of 8 percent, Chief Financial Officer W. Randolph Bake said on a conference call with analysts.
Company executives also reiterated that the InBev bid undervalued the company, but would not say what an adequate bid would be.
(Reporting by Brad Dorfman; editing by Jeffrey Benkoe)
