IN BRIEF

Anheuser-Busch Cos., the world’s second-largest brewer, said profit rose on higher prices and the biggest increase in U.S. beer shipments in five quarters.

Second-quarter net income climbed 6.1 percent to $677 million, or 88 cents a share, exceeding estimates of 86 cents. Earnings a year earlier were $637.8 million, or 82 cents.

Sales rose 6.1 percent to $4.52 billion.

Anheuser-Busch’s U.S. beer shipments rose 2.3 percent on demand for Bud Light leading up to the July 4th holiday. The company sold more Beck’s, Bass and other imports made by Belgium’s InBev NV. Anheuser raised prices 3.1 percent to cover higher costs, and will increase prices again by early 2008.

Club expresses views on global warming

The Sierra Club presented state regulators on Wednesday with a stack of 320 postcards from citizens who are concerned about global warming.

Lydia Ball, the club’s Nevada director, said the environmental group opposes coal-fired power plants, which generate large quantities of carbon dioxide that leads to global warming.

The club called for renewable energy such as solar and wind power.

The Public Utilities Commission took no action on the comments but offered to provide the club with more information about Nevada’s renewable energy program.

LOS ANGELES

Target to sell Blu-ray DVD player at holidays

Target Corp., the nation’s second-largest retailer, will start selling a Sony Blu-ray high-definition DVD player during the critical holiday shopping period and feature the player along with Blu-ray discs in store displays, dealing a potential blow to the rival HD DVD format.

The move, which the companies will formally announce Thursday, is another step in resolving a format war that has kept confused consumers from rushing to buy new DVD players until they can determine which format will dominate the market.

Target said it will sell the Sony BDP-S300 for $499 in October and display it along with Blu-ray DVDs from three studios, including Sony Corp. and The Walt Disney Co., at the ends of store aisles.

KANSAS CITY, Mo.

Investment fund will vote against IHOP deal

An investment fund owning 1.36 percent of Applebee’s International plans to vote against the proposed $2.1 billion acquisition by IHOP Corp., saying the $25.50-a-share offer is too low.

The Lion Fund LP, headed by Sardar Biglari, also chairman and chief executive officer of steakhouse chain Western Sizzlin Corp., issued a statement Wednesday stating its opposition to the deal.

“I believe Applebee’s board has made a grave mistake in agreeing to an undervalued bid for the entire company,” Biglari said. “This arrangement is most alarming because new board members promised to protect shareholders’ interests, yet they have not verbalized any opposition to this ill-advised transaction.”

Sportsmen to testify on mining law reform

Western sportsmen have new game in their sights: A 135-year-old mining law they say has allowed hardrock mining companies to pollute trout streams, damage wildlife habitat and leave abandoned mines throughout the West.

Hunting, fishing and wildlife advocates announced Wednesday that they have joined forces to lobby lawmakers to update the General Mining Act of 1872. They are set to testify at a House hearing today on a proposed rewrite of the law.

“The law’s legacy is a damaged landscape with hidden hazards that have even killed children,” said Gene Kolkman, a former Bureau of Land Management district manager from Ely.

LARGO, FLA.

FTC shuts down telemarketing firm

A telemarketing firm accused of using murky promises of discounts and free vacations to trick thousands of consumers across the nation out of millions of dollars was temporarily shut down Wednesday, federal officials said.

The Federal Trade Commission took action against Strategia Marketing Inc., also known as Suntasia Marketing, following a federal judge’s temporary civil injunction.

According to federal civil court records, more than 5,000 people complained to authorities that the telemarketing firm, operating under at least 15 business names, used deceptive and confusing sales tactics to get consumers to reveal their bank account information.

Strategia employs more than 700 people — including about 500 telemarketers — in the company’s office in Largo.

Toyota says it’s closer to plug-in Prius model

Toyota Motor Corp., the leading seller of gasoline-electric hybrid vehicles in the U.S., is moving closer to bringing a plug-in version of its popular Prius to market.

The automaker said Wednesday that it was teaming up with two California universities to test so-called plug-in versions of the Prius, cars that would be capable of traveling farther and faster than current models on electricity alone.

NEW YORK

Treasury prices rise amid market jitters

U.S. Treasury prices rose Wednesday as credit market jitters caused investors to seek the safety of government bonds.

At 5 p.m. EDT, the 10-year Treasury note was up $3.75 per $1,000 in face value, or 0.38 points, from its level at 5 p.m. Tuesday. Its yield, which moves in the opposite direction, fell to 4.90 percent from 4.95 percent.

The 30-year bond rose 0.53 points. Its yield fell to 5.02 percent from 5.06 percent.