Hurricane Ivan may cost insurers less than first estimated after the third storm to hit the U.S. in six weeks skirted New Orleans.

Claims will probably total $4 billion to $10 billion, down from a previous prediction of as much as $20 billion, according to Eqecat Inc., which estimates insurance losses.

Meanwhile, oil prices rose Thursday despite reports that refineries along the Gulf Coast, as well as production platforms in the Gulf of Mexico, that had been shut down were slowly being restaffed, as Ivan proved to be less disruptive than feared.

Light crude for October delivery rose 42 cents to $40 per barrel on the New York Mercantile Exchange.

More time was needed to assess the impact on production platforms, and some refiners said logistical constraints had slowed their ability to restart operations.

U.S. consumer prices are holding steady

WASHINGTON - Consumer prices barely budged in August, suggesting that inflation isn't currently a problem for the economy and Federal Reserve policy-makers can stick with a gradual approach to raising interest rates.

The government's closely watched inflation barometer, the Consumer Price Index, rose by just 0.1 percent in August from the previous month, the Labor Department reported Thursday. Falling prices for clothes, cars and airfares helped to temper rising prices for medical care, education and some food items.

The tiny rise came after consumer prices dipped 0.1 percent in July.

First-quarter earnings at Cintas up 15 percent

Cintas Corp. said late Thursday that its fiscal first-quarter earnings rose 15 percent to $72.7 million, or 42 cents a share, in line with the average of analyst expectations.

The Mason uniform supplier, reporting after the stock market closed, said revenues for the three months ended Aug. 31 rose 10 percent to $746 million from $678 million a year ago.

In the same period last year, Cintas reported net income of $63.3 million, or 37 cents a share, including a $4 million pre-tax charge for write-off of a receivable from a garment manufacturer.

CEO Scott Farmer said rental revenue rose 8 percent, while other service revenues rose 18 percent.

Farmer also reiterated that the company expects revenues this fiscal year will range from $3 billion to $3.2 billion and earnings per share will range from $1.70 to $1.80.

Shares in Cintas closed at $41.83, down 10 cents.

Mullane's Cafe to serve last dish on Sept. 30

Another downtown Cincinnati restaurant is calling it quits.

Mullane's Cafe will remain open for business through Sept. 30. The 17-year-old restaurant at 723 Race St. said Thursday it was hurt by the 2001 race riots, the economic recession and customers' reluctance to dine downtown.

Just two weeks ago, Nick & Tony's restaurant and bar closed its doors several blocks away on East Seventh Street.

Kroger board OKs $500M stock buyback

Kroger Co. said Thursday its board of directors authorized $500 million to be used to buy back company stock. The company has nearly exhausted its last buyback authorization of $500 million, approved in December 2002. Shares in Kroger closed at $15.65, down 5 cents.

Internet-based phone service in Hamilton

Time Warner Cable says its Internet-based residential phone service is now available in Hamilton. The company began the service to several Southwest Ohio communities, including most of Hamilton County, in June.

The service will cost $39.95 a month for existing digital cable customers. For those without cable or Time Warner's high speed Internet access, the service will cost $44.95.

Toyota hybrid to be built, sold in China

TOKYO - The Toyota Motor Corp. said Wednesday that it would assemble and sell its fuel-efficient Prius hybrid sedan in China beginning next year with its local partner, the China FAW Group, in a move that seems intended to appeal as much to policy makers in Beijing as to car buyers.

Toyota, the world's second-largest carmaker, is off to a late start in China, where it lags far behind rivals such as Volkswagen and General Motors.

Wire/staff reports