EXETER, N.H. — Shares of Tyco International Ltd. climbed 46 percent, their biggest-ever rise, after the conglomerate named Motorola Inc.'s Edward Breen chairman and chief executive, replacing the ousted Dennis Kozlowski.

        The stock rose $3.78 to $12.03. It had plunged 86 percent this year amid criticism of Mr. Kozlowski's business strategy and allegations the company hid slowing growth and misused funds. Tyco's hundreds of businesses include ADT alarm systems, medical supplies, electrical connectors and fiber-optic cable.

        Mr. Breen, 46, had been president and chief operating officer at Motorola, the world's second-biggest maker of mobile telephones. Tyco announced his appointment less than two months after forcing Mr. Kozlowski to resign ahead of his indictment for sales-tax evasion. Mr. Breen was helping lead cost-cutting efforts at Motorola.

        Mr. Breen took the No. 2 spot at Motorola in January and was seen as Chief Executive Christopher Galvin's successor.

        He ran General Instrument Corp. before Motorola bought the No. 1 maker of cable- TV set-top boxes in January 2000. He shut factories and reorganized businesses there, helping to make General Instrument profitable. Shares of Motorola dropped 11 percent to $10.90.

Avaya to eliminate 2,500 more jobs

        BASKING RIDGE, N.J — Avaya Inc., the biggest U.S. maker of office-telephone equipment, will eliminate 2,500 more jobs, or about 12 percent of its workforce, amid a continued slump in demand.

        The company will have about $150 million in fiscal fourth- quarter costs for cutting jobs, closing offices and terminating leases, as well as declining asset values, it said in a statement.

        Avaya had cut 7,200 positions since last June because customers reduced spending on telephone equipment. The company on Monday reported a third-quarter net loss of $37 million as sales fell 29 percent to $1.22 billion. Avaya said then it expected a drop in fourth-quarter sales from the third period and would pare more jobs.

GE Capital's Nayden ousted as chairman

        FAIRFIELD, Conn. — General Electric Capital Corp. Chairman Denis Nayden was ousted as Jeff Immelt, chief executive of parent General Electric Co., took direct control of the finance arm and divided it into four units.

        GE Capital, whose $461 billion of assets ranks it among the 10 biggest U.S. financial services companies, will be split into commercial, insurance, consumer and equipment finance divisions. Mr. Immelt, who succeeded Jack Welch in September, is eliminating a layer of management and responding to investors' call for more open accounting, the company said.

        “Investors want to see Jeffrey Immelt step up and start to make his mark on the company,” said Mark Demos, an analyst at Fifth Third Investment Advisors, which manages about $34 billion in assets including GE shares. “Investors want tangible evidence that GE is moving toward transparency.”

Administrator suggests liquidation for Midway

        MORRISVILLE, N.C. - Midway Airlines should be forced into involuntary liquidation because the twice-grounded carrier has failed to file financial information with the bankruptcy court, the administrator overseeing the airline's reorganization said.

        Marjorie Lynch, administrator for the U.S. Bankruptcy Court for the Eastern District of North Carolina, accused Midway of filing “incomplete, evolving and conflicting” financial data with the court.

        She filed a motion seeking court approval to convert Midway's bankruptcy from Chapter 11 reorganization to Chapter 7 liquidation, a move that would shut down the airline and force the sale of its remaining assets.

        “If this company can't comply with the rules of this court, then perhaps it should liquidate,” Ms. Lynch said Thursday.

Judge extends deadline for indictment

        NEW YORK - A federal judge on Friday granted prosecutors another extension in their deadline to file an indictment against former ImClone Systems Inc. CEO Sam Waksal, while both sides continue discussions on a possible plea.

        The two-week window granted by Magistrate Andrew Peck in Manhattan is the second such delay in the case.

        Federal prosecutors said they have had several conversations with Mr. Waksal's defense team in the hopes of “reaching a disposition of this case.”

        Assistant U.S. Attorney Michael Schachter wrote in court papers that he had been asked Tuesday by a lawyer for Mr. Waksal to get another extension.

        Both sides now have until Aug. 9.

OPEC waits to boost output

        LONDON — Crude oil prices, after rising by a third this year, need to climb another 12 percent before OPEC puts more oil on the market, said the group's new secretary- general, Alvaro Silva.

        The Organization of Petroleum Exporting Countries' price benchmark, which the group uses to guide production policy, has risen 33 percent this year to $24.98 a barrel, in the middle of the group's target range of $22 and $28.

        “We cut when prices go down to $22, and if they went up to $28, we like to take measures,” Mr. Silva said in a telephone interview. Asked if prices would have to exceed $28 for OPEC to raise supply, he said, “this is the general rule of the band.”

        Some OPEC officials, including president Rilwanu Lukman, have said the group may raise quotas in the fourth quarter.

        Members are already exceeding the current target to maintain market share and raise revenue. That suggests the group may raise quotas even if prices are within the band, analysts said.

        The group, which is scheduled to meet next on Sept. 18, has yet to reach a position on supplies for the last three months of the year, Silva said, speaking from OPEC's Vienna headquarters. OPEC's quotas now are at an 11-year low.

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