Briefs: Wal-Mart cuts supercenter plans

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NEW YORK -- Wal-Mart Stores cut its capital expenditure forecast Tuesday and scaled back on planned supercenters as the world's largest retailer grapples with slowing sales in the U.S. Wal-Mart said its capital spending will fall this year and probably the next two fiscal years as it spends less on new U.S. stores, but spending on new international stores will increase.

Countrywide to modify loans

NEW YORK -- Countrywide Financial, the largest U.S. mortgage lender, offered Tuesday to refinance or modify up to $16 billion in adjustable-rate mortgages through the end of 2008 to help about 82,000 borrowers facing higher payments.

USG profit drops 95 percent

CHICAGO -- USG Corp., the largest maker of gypsum wallboard in North America, said third-quarter earnings dropped 95 percent as the U.S. housing recession hurt sales of construction materials and pushed down prices. Net income fell to $7 million, or 7 cents a share, from $153 million, or $1.71 a share, a year earlier. Sales declined 9.7 percent to $1.34 billion, the Chicago-based company said.

UAW strikes Navistar's ITE

WARRENVILLE -- The United Auto Workers union said Tuesday more than 4,000 workers in six states, including Illinois, are striking against International Truck and Engine, alleging unfair labor practices. Warrenville-based ITE is a unit of Navistar International.

Ulta IPO to offer 8.5 million shares

ROMEOVILLE -- Ulta Salon, Cosmetics and Fragrance Inc. will go public this week. According to theinitial public offeringprospectus filed with the U.S. Securities and Exchange Commission, the offering will be 8.5 million shares at aprice of $14 to $16 each. The proposed Nasdaq symbol is ULTA. Ulta earned $7.5 millionin the six months ended Aug. 4, a decrease of 18.8 percent compared with the year-earlier period. Net sales rose 22.5 percent to $394.6 million in the same period.

Chrysler UAW contract in jeopardy

DETROIT -- Two Chrysler LLC plants in Indiana voted Tuesday to reject a proposed contract for the No. 3 U.S. automaker, marking the latest and most serious setback to a tentative four-year deal negotiated by the United Auto Workers union. The pair of votes by the two Indiana UAW locals, which represent more than 4,000 workers, push the vote against the contract to a slight majority, according to a plant-by-plant tally of votes in the closely watched ratification battle.