Wire/staff reports

NEW YORK - Two leading forecasters predicted further increases in advertising spending for next year, thanks mainly to a combination of continued economic growth, the summer Olympics and the presidential election.

Speaking at an annual investors conference Monday hosted by the UBS Warburg investment bank, Robert Coen of Universal McCann and John Perriss of Zenith Optimedia both issued upbeat forecasts for 2004.

Coen, who is often seen as more bullish than other forecasters, predicted 6.9 percent growth in all U.S. advertising spending for next year, versus an increase from the 5.2 percent estimated for 2003.

Local advertising, meanwhile, continues to be held back somewhat by insecurity about jobs, which has led consumers to keep a tight hold on discretionary spending, Coen said.

Perriss, chief executive of Zenith Optimedia, also predicted more advertising growth for the United States and other countries for next year.

Yahoo to offer high-speed services

Yahoo Inc., owner of the most-used group of Internet sites, will offer a package of services for consumers with high-speed Internet access for $5.95 a month to boost revenue from subscriptions.

Yahoo! Plus will combine features such as video content, e-mail accounts with extra storage space and software to block advertisements that pop up on the screen, the Sunnyvale, Calif.-based company said in a statement. The service will be available later this month.

Indian Hill forms electricity program

INDIAN HILL - Only 45 of 1,808 eligible households in Indian Hill have opted not to participate in the electricity buying pool the city has formed to cut power costs.

Indian Hill is the first community in southwest Ohio to implement the program, known as municipal aggregation, which allows communities to negotiate with independent power suppliers for lower rates. Indian Hill officials expect participants to save about $129 annually when the program begins next month.

Cinergy Corp., which will continue to handle billing and power delivery, is sending letters to residents to confirm their participation.

Commission gives OK to electricity transfer

FRANKFORT - The Kentucky Public Service Commission Friday gave conditional approval to Cincinnati Gas & Electric Co.'s transfer of1,105 megawatts of generating capacity to Union Light, Heat and Power Co., its sister company in Northern Kentucky.

The move won't have any impact on electric rates because the three plants involved already supply power to Northern Kentucky.

The commission urged ULH&P to acquire its own generating capacity to insulate it from power price fluctuations. The generation that CG&E will transfer to ULH&P are: A 69 percent ownership in the East Bend power station in Rabbit Hash; a 168 megawatt generating unit at Miami Fort power plant in North Bend; and the gas-fired Woodsdale generating station, in Trenton.

The transfer must still be approved by federal regulators.

Cincinnati Bell names Morris to board

Cincinnati Bell Inc. has named Michael G. Morris, 57, chairman and chief executive officer of Northeast Utilities in West Springfield, Mass., to its board of directors.

Chairman Phil Cox said Morris has had extensive experience in the regulated utility market. Morris replaces J. Taylor Crandall, managing partner of Oak Hill Capital Partners, who resigned last week.

Bidding on Cintech postponed to today

Monday's planned bankruptcy auction of the assets of Cintech Solutions Inc., a Blue Ash developer of call-center software, was adjourned until today.

Lawyers for Cintech, which sought Chapter 11 bankruptcy reorganization last March, and prospective buyer David Schmitt talked Monday past the start of the 10 a.m. sale. Schmitt, who owns several area manufacturing companies, is the only bidder for the company, which employs 30.

The talks were suspended because the court closed early Monday.

Unilever sells brands to Lehman Brothers

NEW YORK - Unilever, the Anglo-Dutch consumer-products company, said Monday it agreed to sell four home-care brands to investment bank Lehman Brothers Holdings Inc. for an undisclosed sum.

The four brands - including Niagara ironing products and Sunlight dishwashing detergent - had sales of $107 million for the nine months ended Sept. 30.

The sale includes Rit fabric-dye products worldwide; Niagara products in the United States, Canada, Puerto Rico and elsewhere with exclusive licensing rights in Central America and Mexico; Final Touch fabric softeners in the United States, Canada and Puerto Rico; and exclusive licensing rights to Sunlight dishwashing detergents in the United States, Canada and Puerto Rico.

Treasury securities' interest rates fall

WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction.

The Treasury Department sold $16 billion in three-month bills at a discount rate of 0.900 percent, down from 0.925 percent last week. An additional $16 billion was sold in six-month bills at a rate of 1.000 percent, down from 1.030 percent.

The three-month rate was the lowest since July 21, when the bills sold for 0.895 percent. The six-month rate was the lowest since Oct. 14, when the rate was 0.985 percent.