Business news in brief

Tyco Electronics Ltd. said Tuesday it would acquire ADC Telecommunication Inc. in a deal valued at $1.24 billion. Tyco, which is incorporated in Switzerland but run from offices in Berwyn, said the acquisition would help it provide broadband access to networks around the world. Also Tuesday, Tyco said it returned to profitability in the third quarter, reporting net income of 72 cents per share during the period that ended on June 25. Excluding onetime items, its adjusted earnings came to 70 cents per share. During the same period last year, Tyco lost 16 cents per share. Shares of ADC, Eden Prairie, Minn., rose $3.67, or 41.5 percent, to $12.52. Tyco Electronics shares rose 64 cents, or 3.5 percent, to $25.92. - AP

Three central Pennsylvania casinos added table games Tuesday. Mohegan Sun at Pocono Downs debuted 62 tables, Mount Airy Resort Casino had 72, and Hollywood Casino at Penn National Race Course near Harrisburg opened 52 table games to the public. Parx, Harrah's Chester Casino and Racetrack, and Sands Casino Resort in Bethlehem all debut blackjack, poker, craps, and other games on Sunday. Three Western Pennsylvania casinos went online with table games last Thursday. - Suzette Parmley

InfoLogix Inc. said it had received an extension to comply with Nasdaq's listing requirements. The Hatboro company, which helps businesses use mobile technology, was cited for missing the $2.5 million minimum stockholders' equity requirement. The extension sets milestones to be met by Aug. 15, with complete compliance by Oct. 18. Company shares closed down 78 cents, or 12.6 percent, at $5.39. - Roslyn Rudolph

Bernard Dagenais is resigning as editor of the Philadelphia Business Journal to become president and chief executive of the Main Line Chamber of Commerce, the weekly newspaper reported on its website. Dagenais, who has been the paper's editor since 2002, will start his new job on Aug. 9. The chamber, based in Wayne, has a staff of 11 and has 1,100 members in Philadelphia's western suburbs. The CEO job has been vacant since December, the Business Journal said. - Paul Schweizer

An Exelon Corp. unit is teaming up with engineering consultant Shaw Group and Toshiba Corp. to design, build, and run nuclear plants in Saudi Arabia, the companies said. Exelon Nuclear Partners, whose plants include Limerick Creek, Oyster Creek, Peach Bottom, and Three Mile Island, would provide operations services for the new sites. Exelon is the parent of Peco Energy Co., Philadelphia. Shaw has a Moorestown office employing close to 300. Company spokeswoman Gentry Brann said they could be involved in this work. - Roslyn Rudolph

President Obama on Tuesday secured the 60 votes he needs in the Senate to pass a sweeping overhaul of financial regulations, all but ensuring that he soon will sign into law one of the top initiatives of his presidency. With the votes in hand to overcome Republican delaying tactics, Senate Majority Leader Harry Reid said Tuesday he hoped for final passage on Thursday. The House already has passed the bill. Support for the bill jelled Tuesday after conservative Sen. Ben Nelson (D., Neb.) said he would vote for the bill after raising concerns the previous day. - AP

Intel Corp. posted its largest income in a decade Tuesday as the company benefits from a strengthening computer market and more sophisticated factories. The results topped Wall Street's forecasts, and Intel raised its guidance. Intel reported after the market closed that net income was $2.89 billion, or 51 cents per share, in the quarter ended June 26. That compares with a loss of $398 million, or 7 cents per share, a year ago, when Intel was forced to pay a $1.45 billion fine in Europe over antitrust violations. Analysts expected net income of 43 cents per share in the latest period. Revenue was $10.77 billion in the latest period, above the $10.25 billion expected by analysts surveyed by Thomson Reuters. - AP

The federal deficit has topped $1 trillion with three months still to go in the current budget year, showing the continued effect of a deep recession on the government's finances. In its monthly budget report, the Treasury Department said that through the first nine months of this budget year, the deficit totals $1 trillion, down by 7.6 percent from the $1.09 trillion in red ink run up during the same period a year ago. The June deficit totaled $68.4 billion, the second highest June deficit on record. The all-time high of $94.3 billion was recorded in June 2009, a month when the government was spending heavily to stabilize the financial system and jump-start economic growth. - AP

The U.S. trade deficit rose 4.8 percent in May to $42.3 billion, the highest in 18 months, as rising imports offset another solid gain in U.S. exports, the Commerce Department said. The surge in imports was a hopeful sign for the economic recovery because it suggested businesses are optimistic that U.S. consumers will spend more in coming months. Imports were up 2.9 percent to $194.5 billion, while exports rose 2.4 percent to $152.3 billion. - AP

Moody's Investors Service credit rating agency downgraded Portugal's bonds, casting fresh doubt on the country's ability to weather its debt crisis as the economy weakens. Moody's cut Portugal's government bond ratings to A1 from Aa2. The move deepens the country's financial woes because foreign lenders will likely demand higher interest returns for the risk of loaning it money. - AP

Consumer products maker Procter & Gamble Co. is raising its dividend by 9.5 percent, or 4 cents per share. The company said Tuesday its board of directors increased the quarterly dividend to 48 cents per share, the second straight quarterly 4-cent increase. The dividend is payable Aug. 16 to shareholders of record on July 23. P&G reported rebounding sales in its third quarter. - AP