Business news for Mon, 17 Dec 2007 & with word sales. 26 news.

CONSUMER spending on China's hotel and catering industry hit record highs last month, as the hotel industry develops, and food prices rise. Domestic hotels and restaurants generated record sales of 110 billion yuan (US$14.9 billion) for November, an increase of 21.6 percent from a year earlier, the Ministry of Commerce said on its Website yesterday. The growth is 3.9 percent higher than the same period last year, and 0.2 percent higher than in October. Spending on hotels and restaurants for the first 11 months rose by 18.9 percent to 1.11 trillion yuan, accounting for 13.9 percent of total retail sales during the period. Analysts say part of this can be attributed to the rise in food prices since the beginning of this year. In November, China's consumer prices, a main gauge of inflation, jumped 6.9 percent from a year earlier, close to 11-year record of seven percent set in December 1996. Sales revenue was recorded at 134.7 billion yuan. About 862 foreign-funded hotels

ACE Ltd has agreed to buy Combined Insurance Co of America from Aon Corp, the world's second-largest insurance broker, for US$2.4 billion in cash. The purchase of the Illinois-based accident, health, and life insurance unit, which has four million policy holders and almost 7,000 sales agents, will probably close by the end of the second quarter, Ace said yesterday. Aon is also selling Washington-based health-care insurer Sterling Life Insurance Co to Munich Re, the world's second-biggest reinsurer, for US$352 million. "The acquisition of Combined is a significant milestone for Ace and represents both an opportunity for considerable growth and expense-related efficiencies," Ace Chief Executive Officer Evan G. Greenberg said. Ace, the Bermuda-based business insurer, said in October it may make an acquisition to expand its life insurance business, according to Bloomberg News. Greenberg said the company was also planning to expand small-business coverage in Asia and

HONDA Motor Co, Japan's second-largest car maker, increased sales in China 36 percent last month as the Civic and Accord cars won more buyers. Honda sold 46,226 cars in November in China, the company said yesterday. In the first 11 months, sales climbed 32 percent to 378,602. The auto maker is boosting sales in China this year as the Accord sedan is ranked the tenth best-selling model in the country.

INGERSOLL-RAND Co, the maker of Thermo King refrigerated trucks, has agreed to buy Trane Inc for US$10.1 billion in cash and stock to gain cooling systems for transportation and buildings. Ingersoll-Rand will pay US$36.50 in cash and 0.23 of a share for Trane, the Bermuda-based company said, according to Bloomberg News. That values the New Jersey-based air-conditioner maker's shares at US$47.81 based on Friday's closing price. Ingersoll-Rand will take on US$150 million of debt. Chief Executive Officer Herbert Henkel said the purchase of the air-conditioner maker will create a company with US$17 billion of sales, more than half coming from the heating and cooling business. Ingersoll-Rand this month completed the sale of its Bobcat construction-machinery unit, shifting its focus to refrigeration systems amid rising trade in frozen foods. "The market for transporting food is very strong," Sanjay Jha, a London-based analyst at Pali International, said in an interview.

As Bush tried to reassure Americans, retailers showed concern over slow sales.

Real estate sales in the country's major markets have set a new annual record, according to the Canadian Real Estate Association (CREA).

This is the time of year that can take a toll on your health, what with the office parties and the family gatherings and the hours of TV football and the 4 a.m. "door buster" sales that force you to scratch and claw your way over a mass of humanity to save 60% on something you probably don't really need.

Retail sales continue to rise near or above the historical average.

Fears of a spending slowdown in the run-up to Christmas were confirmed today after a CBI study said sales grew at their weakest level for over a year

Home sales in the Houston area took another tumble in November, and December is shaping up to be a down month as well.

About 150,000 "kosher" cell phones have been sold in Israel since sales began, three years ago. According to data from one cellular provider, the ultra-Orthodox (Haredi) Jewish community now uses about 250,000 cellular phones. ...

From high-end dresses to bargain coats, spending on women's apparel dropped nearly 6 percent during the first half of the Christmas season, compared with the same period last year, according to MasterCard Advisors.

Statistics Canada says new motor vehicle sales declined again in October, slipping 1.4 per cent from September to 137,501 units. The decline was due to lower passenger car sales, which fell 4.9 per cent.

NEW YORK (MarketWatch) - RBC Capital Markets analyst Larry Miller cut his rating on Starbucks Corp. on Monday to sector perform from outperform after a meeting with company management. The analyst said he came away from the meeting "believing Starbucks' multiple pressure will last longer than we expected as sales weakness, EPS risk, and return compression continues." He cut his price target to $22 a share from $26 on the Seattle-based coffee-shop operator. Starbucks shares traded about 1.2% lower in Monday premarket trading after closing Friday at $21.25.

Nintendo is set to miss out on an estimated $1.3 billion ($£650 million) in sales this Christmas by failing to meet demand for its Wii video games console.

Growing demand for GM and Ford cars is helping compensate for slowing sales at home. New York Motors, southeast of Moscow's city center, is the busiest Ford dealership in the world.

Apple Inc. is trying to stop people from buying so many iPhones.

Sedgwick County's 1-cent arena sales tax becomes history on New Year's Day.