November 12, 2004

Coca-Cola, suffering from weak sales in North America and other important markets, will sharply scale back its projections for amount of beverages it expects to sell in future years and profit it hopes to generate; chief executive E Neville Isdell promises to improve company's long-term profitability eventually, but warns that 2005 will be 'transition year'; says company is concentrating on sales volume growth of 3 percent to 4 percent, instead of earlier targets of 5 percent to 6 percent; operating income is expected to increase 6 percent to 8 percent, compared with earlier target of 10 percent; growth targets do not apply to 2005, which is expected to fall short; Isdell warns investors that they should not expect to see any significant improvements in results for 18 to 24 months; plans renewed emphasis on marketing and advertising; Coke plans to add $350 million to $400 million to its annual marketing budget starting next year; photo (M)

Article on tour of wineries in New York's Hudson Valley, which is repackaging itself as booming tourism area; photos; maps (M)

Uniao de Bancos Brasileiros (Unibanco) reports third-quarter net profit of $115.8 million, up 21 percent from same period last year (S)

Republicans losses in New York State Senate races stun party that has ruled State Senate for 40 years; party is resigned to losing two seats, and possibly two more, including those held by Sen Nicholas A Spano in Westchester and Sen Nancy Larraine Hoffmann in Syracuse; political experts believe that loss of Spano could endanger Joseph L Bruno's role as Senate majority leader, although Gov George E Pataki's support for Bruno would make removing him uphill battle (M)

US marines in Falluja keep watchful eye for black flags, used by Iraqi insurgents to gather and attack, as American forces push south of main highway; corned insurgents are setting up deadly ambushes in moonless blackness of labyrinthine streets; photos (M)