Biz Buzz

NATION

Fender IPO could strike a chord

An instrumental piece of rock and roll history is going public. Fender Musical Instruments Corp., the Scottsdale, Ariz.-based maker of legendary guitars strummed by the likes of Buddy Holly, Jimi Hendrix and Eric Clapton, filed papers Thursday for a $200 million initial public offering. Founded in 1946 by Leo Fender, the company's famous Stratocaster went on sale in 1954. The Strat's sturdy, all-wood body could stand up to repeated abuse, making it popular in the rock and roll world. In its filing with the Securities and Exchange Commission, Fender said it's the country's biggest seller of electric, acoustic and bass guitars.

Google ad probe deadline set

A Delaware judge has given Google Inc. until April 9 to turn over documents involving what authorities said was the illegal online marketing of prescription drugs to U.S. consumers by Canadian pharmacies. The order follows a complaint filed by the DeKalb County Pension Fund. Fund attorneys said they want to see corporate records after Google agreed last year to forfeit $500 million following a U.S. government investigation. The settlement allowed the Internet search leader to avoid criminal prosecution for allegations it improperly profited from ads promoting Canadian pharmacies that marketed drugs to U.S. consumers. Google said Thursday it had no comment on the judge's order. Shipping prescription drugs into the U.S. is illegal, investigators have said.

Starbucks to sell coffee brewer

Starbucks Corp. says it will soon sell a single-cup coffee machine for people to brew lattes and other coffee drinks at home. The Seattle-based coffee chain says the Verismo will go on sale this fall. It's keeping the price of the machine a mystery for now. Starbucks first entered the single-serve coffee market with its Via Ready Brew instant coffee in 2009, and it launched its K-cup packs for Keurig single-cup machines this past November. The new machines will make espresso drinks as well as brewed coffee.

Weak PC sales forecast for '12

Research firm Gartner is forecasting that PC shipments will grow 4.4 percent worldwide this year after a small drop in 2011. That's relatively weak growth as consumer attention turns to tablets, such as the new iPad going on sale next week. Gartner says 2012 is a year for PC makers to play catch-up. Relief for the PC industry could come when Microsoft Corp. releases a new version of Windows later this year and PC makers design new machines that combine the convenience of tablets with the utility of laptop computers.

Exxon sets oil, gas 5-year plan

Exxon said Thursday that it will spend about $150 billion over the next five years to find more oil and natural gas to satisfy the world's growing energy appetite. Exxon Mobil Corp., the world's largest publicly traded energy company, expects global energy demand to increase 30 percent by 2040, compared with 2010 levels. As demand grows, chief executive Rex Tillerson said Exxon will plow more money into a global search for new resources. Including investments in its refining and chemicals business, Exxon's capital budget for 2012 through 2016 will total $185 billion, up 29 percent from the prior five-year period.

Jury OKs claim in Stanford case

A Texas jury cleared the way Thursday for U.S. authorities to go after $330 million in stolen investor funds sitting in frozen foreign bank accounts controlled by convicted Ponzi schemer R. Allen Stanford. The jury, which convicted the former tycoon on 13 of 14 fraud-related counts earlier this week, found there to be sufficient evidence that the money in 29 accounts in Switzerland, Britain and Canada was some of the more than $7 billion he stole from investors over a period of 20 years. -- AP