P&G to split off Duracell battery business

Procter & Gamble Co. said it would split off its Duracell battery business into a separate company as it looks to focus on its faster-growing brands.

The world's largest household products maker also reported net income of $1.99 billion, down from $3.03 billion in the third quarter a year earlier, according to Reuters.

The maker of Pampers diapers and Tide detergent said net sales fell to $20.79 billion from $20.83 billion.

Read more from Reuters.