Briefcase: NEWSPAPER Knight Ridder investors push for company's sale NEW YORK - Knight Ridder Inc., the second-largest newspaper publisher in the country, came under renewed pressure from investors Thursday as its third-largest shareholder joined a call

Harris Associates LP, a Chicago-based money manager, sent a letter to Knight Ridder's board urging the company to consider offers "immediately" given the wide gap between the company's current share price and its intrinsic value. Harris has an 8.2 percent stake in Knight Ridder. The call comes just two days after Knight Ridder's largest shareholder, the Naples, Fla.-based investment firm Private Capital Management, demanded that the company to put itself up for sale or face a potential shareholder revolt that could lead to a shake-up of the company's management and board of directors. AUTOMOTIVE BMW AG tumbles 6.5%, citing raw material costs FRANKFURT, Germany - BMW AG said Thursday its third-quarter net profit fell 6.5 percent, citing the higher cost for raw materials to make its cars, but said sales increased some 11 percent. The company confirmed its outlook for the rest of 2005. The Munich-based manufacturer earned 448 million euros ($537.2 million), or 67 euro cents (80 U.S. cents) a share, compared with 479 million euros, or 71 euro cents a share, in the same period last year. Analysts had expected a profit of 484 million euros ($580.4 million). The company said its sales rose to 11.72 billion euros ($14 billion) in the July-September period from 10.6 billion euros last year, beating analysts' expectations of 11.35 billion euros ($13.6 billion). Volkswagen races to profits from cost cuts as sales rise FRANKFURT, Germany - Volkswagen AG, Europe's biggest car maker, said Thursday its third-quarter net profit tripled from last year because of increased sales and cost-cutting measures that have its German labor force working more hours for less pay. The Wolfsburg, Germany-based company earned 273 million euros ($327.38 million), or 71 euro cents (85 U.S. cents) a share, in the July-September period, compared with 67 million euros, or 18 euro cents a share, in the year-ago period. Analysts had expected a profit of 286 million euros. Revenue rose 13 percent to 23.9 billion euros ($28.85 billion) compared with 21.2 billion euros in the same period same last year. RETAIL Eckerd stores, generics boost earnings for CVS WOONSOCKET, R.I. - CVS Corp., one of the nation's biggest drugstore operators, said Thursday that third-quarter earnings jumped 38 percent on strong performance by its recently acquired Eckerd stores, as well as growth in generic drug sales. Its shares closed almost 8 percent higher at $26.44 in trading on the New York Stock Exchange. CVS earned $249.2 million, or 30 cents per share in the three months that ended Oct. 1, up from $181 million, or 22 cents per share, a year ago. Those figures are after preferred dividend payments of more than $3.5 million in both periods. HOUSEHOLD GOODS Clorox Co. income pales as oil, other costs rising NEW YORK - The Clorox Co., the maker of Clorox bleach, Fresh Step cat litter and Glad trash bags, Thursday said net income fell for its latest quarter as rising costs for oil and other raw materials outpaced price hikes. Net income dropped to $109 million from $123 million for the first quarter ended Sept. 30, Clorox said. On a per-share basis, earnings rose to 71 cents a share from 57 cents a share because of fewer shares outstanding in the most recent quarter, the company said.