Coke pulls Dasani from British stores

The Coca-Cola Co. said Friday it was withdrawing its Dasani bottled water from sale in Britain after finding that samples contained higher than permitted levels of the chemical bromate.

A Coca-Cola spokesman said the voluntary withdrawal was a precautionary measure. Only Britain was affected.

“We haven’t yet confirmed when and how we’ll be back in the market,” spokesman Jonathan Chandler said. “We’ll make a communication on the next steps when we’re ready to make them.”

Bromate can cause an increased cancer risk as a result of long-term exposure.

Coca-Cola said the higher than permitted levels of bromate occurred as a result of a process aimed at adding calcium to its bottled water.

Courts

Jurors still searching for verdict in Tyco trial

Jurors ended their first full day of deliberations Friday without reaching a verdict in the trial of two former top executives accused of looting $600 million from Tyco International Inc.

State Justice Michael Obus gave background on the term “criminal intent” in response to a question raised by the panel Thursday, shortly after deliberations began. He also answered several other requests, including explanation of the term “good faith.”

Jurors resume deliberations Monday.

L. Dennis Kozlowski, Tyco’s former chief executive officer, and Mark Swartz, the former chief financial officer, are charged with a total of 32 counts of grand larceny, falsifying business records and violating state business laws. They each could face up to 30 years in prison if convicted.

Energy

Marathon Oil strikes deal

Marathon Oil Corp. will buy Ashland Inc.’s minority interest in Marathon Ashland Petroleum LLC for $3 billion, taking over ownership of the nation’s fifth-largest gasoline refiner and marketer, the companies said Friday.

In a complicated deal, Marathon will pay Ashland $315 million in stock and $2.7 billion in cash and accounts receivable, with much of the cash raised through an offering of new debt. Marathon will then launch a $1 billion offer of common stock “as soon as practical” to help pay off some of that debt.

The deal is contingent on approval from the Internal Revenue Service as a tax-free transaction, the companies said. It also requires approval by Ashland shareholders and regulators. Marathon said it expected the deal to close in the fourth quarter of this year.

Investigation

FleetBoston sacks three in timing scandal

Three top executives at a FleetBoston Financial Corp. unit caught up in the mutual fund market-timing scandal officially are out of a job, a company spokesman said Friday.

James Tambone and Louis Tasiopoulos, co-presidents of Columbia Funds Distributor Inc., already had been placed on indefinite leave, along with chief operating officer Joseph Palombo. Columbia spokesman Charles Salmans confirmed Friday they would not return to the company.