Global retail sales of Walt Disney Co. consumer products are expected to rise 13% to a record $26 billion for fiscal 2007, which ends Sept. 30, and the company plans to nearly double that figure within seven years, Disney Consumer Products chairman Andy Mooney told Reuters on Monday. The executive cited momentum from such franchises as Disney Princesses, "Cars" and "Hannah Montana." Disney has more than doubled global retail sales since Mooney took over in 2000. Disney Princesses is expected to grow 17.6% to $4 billion in fiscal 2007, Mooney said.
Apple Inc. shares rose 3.8% to $125.09 on Monday after the company said it has improved the battery life of its much- anticipated iPhone. Apple said the improvements to the iPhone battery will allow for up to eight hours of talk time, six hours of Internet use, seven hours of video playback and 24 hours of song playback.
Ten net on pause
SYDNEY — Shares of broadcaster Ten Network Holdings Ltd. were suspended Monday from trading on the Australian Stock Exchange following media reports that majority owner CanWest Global Communications Corp. has been unable to find a buyer for its stake in the network. CanWest said in October that it might sell its 56.4% stake in the network but said Monday that is retaining its majority stake by exercising a right to exchange its ordinary shares and convertible debentures into ordinary shares of Ten Network Holdings.