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Business Quick Take

■ ECONOMY

Brazilian GDP up 5.2%

Latin America's biggest economy grew more than 5 percent last year, boosted by high global demand for Brazilian ethanol, iron ore and agricultural products, as well as a booming domestic market, Brazilian Finance Minister Guido Mantega said on Friday. Mantega said GDP grew between 5.2 percent and 5.3 percent last year. The government reported expansion of 5.7 percent in the third quarter of last year, largely because of big gains in the agricultural and industrial sectors. Mantega said industrial output is expected to grow by more than the 6 percent posted last year.



■ AUTOMOBILES

Strike grinds on

The United Auto Workers and auto parts maker American Axle and Manufacturing Holdings Inc negotiated all day on Friday, trying to end an 11-day strike that has affected dozens of factories in the US and Canada. The bargaining came as General Motors Corp said parts shortages from the strike would force it to shut down part or all of 28 assembly and components factories. On Friday, GM added 17 components plants to the growing list and said on its Web site that the affected plants employ more than 37,000 hourly workers. All 17 additional plants are scheduled to go on partial shutdown starting tomorrow, the Detroit-based automaker said.



■ GLASS

Corning may ditch Steuben

Corning Inc, the biggest maker of glass for flat-panel displays, may sell or close its unprofitable Steuben Glass luxury crystal unit. Steuben, founded in 1903, has been losing money for "a few years," spokeswoman Kelli Hopp-Michlosky said yesterday in an e-mailed message. If Corning can't find a buyer, it will consider closing the business, which has about US$25 million in annual revenue and employs 150 people, she said. A sale would allow Corning to focus on its other businesses. Almost half of its sales come from liquid-crystal-display glass, where orders have surged as manufacturers switch to producing high-definition TV sets.



■ BEVERAGES

Carlsberg can buy brewer

EU competition regulators on Friday approved Danish brewer Carlsberg's purchase of some of the assets of British rival Scottish and Newcastle. Scottish and Newcastle in January accepted a £7.8 billion (US$15.5 billion) takeover bid by Carlsberg of Denmark and Heineken of the Netherlands. Under the deal, Carlsberg and Heineken are to split Scottish and Newcastle's assets between them. Carlsberg will take Scottish and Newcastle's half of their joint Russian venture Baltic Beverages Holding, which makes Russia's Baltika beer, and its Chinese, French, Greek and Vietnamese operations. Heineken, meanwhile, will take businesses in Belgium, Britain, Finland, India, Ireland, Portugal and the US.



■ STEEL

Workers poisoned

Workers at an Arcelor Mittal steelworks in Bosnia sought medical attention for nausea and vomiting after eating a special meal provided by the company to mark its "health and safety day" on Thursday. "Some 163 workers ... reported having stomach problems this morning. Ninety sought medical attention but only one was hospitalized," said Boba Lizdek, spokeswoman for the steel plant. In addition to a standard lunch, workers were given extra sweets and fruit juice. Meals provided by Arcelor Mittal are prepared by a local catering firm.
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