McDonald's has higher-than-expected profits

CHICAGO -- McDonald's Corp. said Wednesday its third-quarter profits will come in well above Wall Street estimates, reflecting a sales resurgence in its U.S. restaurants that remains in full force. The announcement prompted the latest jump in McDonald's stock, which has doubled since the company began reviving flagging sales and earnings in spring 2003.

Newspaper circulation probe launched by SEC

NEW YORK -- The Securities and Exchange Commission is conducting an investigation into circulation reporting in the newspaper industry following several disclosures of fraudulent practices in recent months. A spokeswoman for The New York Times said Wednesday the SEC is taking an "industrywide look" at circulation practices, but she declined to be more specific about the inquiry.

Computer chip implant gets FDA approval

WASHINGTON -- A tiny computer chip approved Wednesday for implantation in a patient's arm can speed vital information about a patient's medical history to doctors and hospitals. But critics warn that it could imperil the confidentiality of medical records. The Food and Drug Administration said Applied Digital Solutions of Delray Beach, Fla., can market the VeriChip for medical purposes.

-- From wire reports