Business news in brief

Vishay Intertechnology Inc., Malvern, cut its revenue forecast for the third quarter by about 8 percent, saying an expected seasonal pickup in business did not occur. The company said it now anticipated revenue of between $625 million and $655 million instead of in a range of

$675 million to $715 million. "The slowdown in the consumer and computing end markets did not reverse," chief executive Gerald Paul said. - Paul Schweizer

CSS Industries Inc., Philadelphia, said it sold the Christmas gift-wrap part of its Cleo Inc. business in order to focus on more profitable categories. The move follows the recent CSS announcement that it would close a Cleo gift-wrap plant in Memphis by the end of the year. The buyer of the Christmas-wrap line is the consumer-products company Impact Innovations Inc., Clara City, Minn. In addition to gift wrap, CSS makes seasonal products such as decorative ribbons, floral accessories, and Halloween masks. - Paul Schweizer

Aetna Inc. said its nine million health-insurance customers would be able to more easily download electronic versions of their health records from a company website as part of a government push to promote online data. The Hartford, Conn., insurer expects by next year to give its members the ability to send personal health records directly to doctors and other providers across a secure system, said Aetna's Brian Kelly. Aetna, which bought the heath-data vendor Medicity for $500 million last year, considers the download function a way to promote customer wellness, Kelly said. The application provides suggestions on ways to manage conditions such as diabetes and hypertension. - Bloomberg News

Borrowers defaulted on federal student loans at an 8.8 percent rate for fiscal 2009, up from 7 percent a year earlier, the U.S. Department of Education said. The statistic covers borrowers whose first loan repayments were due during the year that ended Sept. 30, 2009, and who had defaulted by Sept. 30, 2010. About 320,000 out of 3.6 million borrowers in that group were in default, which the department defines as being at least 270 days late on a payment. - Bloomberg News

U.S. airlines curbed long delays in July and improved overall on-time rates compared with the month and year earlier, the U.S. Department of Transportation said. The nation's 16 biggest airlines reported an overall on-time rate of 77.8 percent, up from 76.7 percent a year ago and 76.9 percent in June. Hawaiian, Alaska, and Southwest had the highest on-time rates. Airlines' on-time rates may have improved in part because they canceled more flights, a reaction to DOT's new rule threatening fines for long delays. - AP

Broadcom Corp. plans to spend $3.7 billion to buy chipmaker NetLogic Microsystems Inc. to benefit from surging demand for networking equipment that delivers video and Web access to mobile devices. NetLogic investors will get $50 a share, a 57 percent premium to the closing price for the Santa Clara, Calif.-based company Sept. 9, Broadcom said. - Bloomberg News

Tenet Healthcare Corp., Dallas, said its 2011 profit would fall on the low end of its forecast. Net income will be closer to $1.175 billion than $1.275 billion, the range projected Aug. 2, the nationwide hospital operator said. The reason: It is generating less revenue because it is treating more Medicaid patients and also Medicare patients who are less sick. In Philadelphia, Tenet owns Hahnemann University Hospital and St. Christopher's Hospital for Children. - Bloomberg News

McGraw-Hill Cos. will split into two public companies with one focused on education and the other centered on markets, featuring the Standard & Poor's unit. Investors have pushed the New York company to boost its stock price, which has dropped by more than 40 percent since 2006. McGraw Hill also said it would accelerate share buybacks to a total of $1 billion for this year. - AP

The Federal Reserve's pledge to hold interest rates low until mid-2013 may send the wrong signal to consumers, Federal Reserve Bank of Dallas president Richard Fisher said. It may prompt consumers not to borrow now because they know rates will stay low for two years, he said. Also, Fisher said, holding rates low does not address the uncertainty consumers and businesses have about the economy. - Bloomberg News

Carol Bartz has resigned from the Yahoo Inc. board of directors, which she blasted for firing her last week as the company's chief executive officer. The resignation reversed a defiant stance Bartz took in an interview published online Sept. 8. Bartz said then she intended to retain her board seat. A hedge fund, Third Point, that owns a 5.2 percent stake in Yahoo is asking chairman Roy Bostock and three other directors to resign because it says they were involved in hiring Bartz in 2009 and in other decisions contributing to a steep drop in Yahoo's stock price in the last five years. - AP

The Nuclear Regulatory Commission should require power-plant owners to reevaluate "without delay" their readiness to withstand earthquakes and floods, the agency's staff said. The steps include a review of seismic and flooding hazards and rules to help nuclear plants handle the loss of electric power to the site, such as occurred in Japan in March. The commissioners will study the staff recommendations. - Bloomberg News

Two Swedish trade unions filed bankruptcy petitions against Saab Automobile, pressuring the troubled automaker to present a viable funding solution or face collapse within weeks. A hearing is to be held within three weeks. At the hearing, Saab has to prove it has enough funds to pay bills. - AP