Business briefs for Dec. 4, 2003

Thursday, Dec. 4, 2003 | 10:49 a.m.

Credit cards accepted

DUBLIN, Ohio -- Wendy's International Inc., the third-largest U.S. hamburger restaurant company, said more than 3,000 Wendy's outlets have started to take credit cards to try to boost U.S. sales.

More than 70 percent of its U.S. restaurants will accept credit cards by the end of the year. Wendy's said all U.S. company-owned stores have begun accepting the cards since the plan began in July. Franchised stores are gradually moving to take them as well.

The restaurants accept Visa, MasterCard, Discover and American Express.

Oil production steady

VIENNA, Austria -- OPEC announced today that it would hold its current oil production target steady but meet again in February to consider cutting output to match an expected decline in springtime demand.

The Organization of Petroleum Exporting Countries, which supplies about a third of the world's oil, will keep its daily production ceiling at 25.4 million barrels of crude, spokesman Omar Ibrahim told a news conference.

Firm charged with fraud

NEW YORK -- The Securities and Exchange Commission today charged Mutuals.com Inc., a Dallas investment adviser, with fraud for helping clients make improper trades of mutual fund shares.

The SEC alleges that Mutuals.com, three of its executives and two affiliated broker-dealers deceived hundreds of mutual-fund companies by helping big investors carry out thousands of market-timing and late trades.

Mutuals.com executives didn't immediately respond to the allegations.

Pilots offer 9 percent pay cut

ATLANTA -- Delta Air Lines Inc.'s pilots union has offered to accept a 9 percent pay cut in response to the airline's request to cut pilots' pay by 30 percent, labor leaders said in a message to the membership.

The union represents about 7,500 active pilots and 1,060 who have been laid off.