Business briefs for Feb. 4, 2004

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Wednesday, Feb. 4, 2004 | 10:56 a.m.

FRANKFURT, Germany:

DaimlerChrysler today reported its profit for 2003 fell sharply to $564 million as the turnaround at its troubled U.S. Chrysler division and a one-time financial adjustment weighed on the bottom line.

SCAM:

Three defendants in a Las Vegas mortgage fraud case pleaded guilty Tuesday. Prosecutors said Beth Lanza, former regional manager for National City Mortgage in Las Vegas, and the other defendants schemed to issue loans to fictitious borrowers in order to earn commissions.

SAN FRANCISCO:

Business software maker Oracle Corp. raised its hostile takeover bid for rival PeopleSoft Inc. by 33 percent to $26 per share today, setting the stage for more high-stakes drama in the high-tech soap opera.

WASHINGTON:

The Commerce Department today said America's factories saw orders rebound in December, rising by a strong 1.1 percent, a fresh sign that the national economy's recovery was in full stride as it headed into the new year.