Compiled from wire reports

McDonald's U.S. sales up, foreign profits fall

CHICAGO - New salads helped McDonald's Corp. serve up significantly stronger U.S. sales in the second quarter, but profits announced Tuesday fell 5 percent on spotty results from its restaurants in Europe and Asia.

Despite the biggest quarterly jump since 1998 in sales from established U.S. McDonald's-brand restaurants, the disappointing results overseas kept talk of a long-sought turnaround on hold. New CEO Jim Cantalupo stuck to his earlier assessment the firm needs until 2005 before its restructuring results put the company fully back on the path to consistent, solid growth.

The company said the positive reception for its entree-sized salads and McGriddles breakfast sandwiches helped U.S. same-store sales rise 4.9 percent from the previous year, the highest increase since a Teeny Beanie Babies promotion five years ago.

Ross wins auction for Burlington Industries

CHARLOTTE, N.C. - Investor Wilbur Ross was declared the winner of an auction Monday for bankrupt Burlington Industries with an offer of $620.1 million.

His bid is to be submitted to a federal bankruptcy judge in Delaware for approval Thursday.