Business briefs: Nokia warning

Nokia Corp., the Finnish cell phone maker, warned Tuesday that up to 46 million batteries used in some of its phones could be faulty and pose a risk of overheating. The advisory applies to BL-5C lithium-ion batteries manufactured by Matsushita from December 2005 to November 2006. Nokia (NOK) said 100 incidents of overheating of the batteries have been reported worldwide.

HOME DEPOT

The world’s biggest home-improvement retailer reported Tuesday a 14.8 percent drop in second-quarter profit. The results beat Wall Street expectations, but its shares fell after executives made comments suggesting the sale of its wholesale distribution may not be a lock. Home Depot (HD) CFO Carol Tome said the chain would have to cut by nearly half the size of its stock buyback plan.

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