Business notebook
Tyco plans: Tyco International Ltd. aims to rely on gaining ground in its core markets, including fire and security systems, and increase core revenue 4 to 6 percent annually after it spins off its electronics and healthcare business, company officials said.
Offering: PetroChina Co., China's biggest oil company, plans to sell as many as 4 billion shares in Shanghai, which may raise $5.6 billion, based on the share price in Hong Kong.
Award: A federal jury in West Palm Beach, Fla., awarded $5.5 million to the father of a man who died while wearing the Duragesic pain patch made by two Johnson & Johnson subsidiaries.
Launch position: UK-based private equity firm BC Partners agreed to buy a 76 percent stake in Intelsat Ltd., the world's largest commercial satellite operator, for $4.6 billion.
In the game: Privately held Gather.com said Kevin McClatchy, chief executive of the Pittsburgh Pirates and a director of newspaper publisher McClatchy Co., took a minority stake in the social networking website geared toward adults.
Eliminating competition: Whole Foods Market Inc. executives discussed buying Wild Oats Markets Inc. to prevent competitors from entering the natural and organic foods market, according to a lawsuit by the Federal Trade Commission.
Not so sweet: Cadbury Schweppes PLC said it plans to close 15 percent of its candy factories by 2011, cutting about 7,500 jobs, and will likely sell the US unit that makes 7-Up, Dr Pepper, and Snapple soft drinks.
Movie phone: AT&T Inc. launched what it said is the first service letting callers share live video between cellphones. The Video Share service won't apply to the iPhone, which uses an older network. AT&T has an exclusive deal to offer service for the Apple Inc. device.
Settlement: Sun Microsystems Inc. settled a lawsuit contending that Azul Systems Inc. infringed microprocessor memory design patents. Terms were not disclosed.
Acquired: Private equity firm RedZone Capital, co-founded by Six Flags chairman Dave Snyder, agreed to pay $175 million to acquire Dick Clark Productions Inc., producer of such TV shows as "Dick Clark's New Year's Rockin' Eve" and "The Golden Globes."
(Globe wire services)
