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Boosted by rising demand for fertilizers, Potash Corporation of Saskatchewan's third-quarter profit jumped 62% to $402.7 million from $247.9 million a year earlier. Sales increased 43% to $1.58 billion. Potash Corp. expects per-share earnings of between $5.75 and $6 for full-year 2010.

At auction, Avaya Inc. acquired Nortel Networks Corp.'s corporate phone-systems unit for $900 million and an additional $15 million for an employee-retention program. Verizon Communications Inc. moved to block the deal arguing that the acquisition would result in disruptions to government and military communications networks in the U.S. unless Avaya agreed to take over Verizon's contracts with Nortel. Avaya and Verizon continue negotiations.

Air Canada posted a much higher than expected loss for the 2001 second-quarter. The carrier also said it would layoff an additional 4,000 workers in order to reduce costs.