Tue, Nov 23, 2010 - Page 10 News List

World Business Quick Take

Agencies

ELECTRONICS

Sony to develop game phone

Sony Corp’s phone venture with Ericsson AB signaled it is developing a smartphone with a slide-out controller designed to play games, the Wall Street Journal reported, citing an interview with the head of the venture. Sony Ericsson Mobile Communications AB chief executive Bert Nordberg said he’s aware of speculation about a new product that would take advantage of Sony’s experience in developing its portable game device, the report said.

DAIRY

Yoplait fights for Nestle

The head of French dairy food company Yoplait said in a newspaper interview on Sunday that Swiss food giant Nestle would make an “ideal” partner, with major investment planned in China and India. Yoplait, the world’s second-biggest dairy food producer, is in the midst of a battle to take over a 50 percent stake in the company that investment group PAI wants to sell. Chief executive Lucien Fa told the newspaper Le Matin Dimanche that he wanted to break with the company’s franchise system and take greater control of operations in local markets.

AUTOMOTIVE

Nissan eyes US dollars

Japanese auto giant Nissan wants to move production and support functions to US dollar-linked economies, including the US and China, to avoid currency volatility, the Financial Times reported yesterday. Nissan chief executive Carlos Ghosn, who also heads France’s Renault, said the company wanted to correct a “big imbalance” in its costs and revenues due to making cars in Japan that are then sold in the US and dollar-linked economies in Asia.

EXCHANGES

Bourse to stop floor trading

Deutsche Boerse AG plans to stop floor trading by the end of May next year, the Financial Times Deutschland reported. The operator of the Frankfurt exchange is likely to fully switch to Xetra electronic trading “earlier than planned,” the German newspaper reported. Deutsche Boerse previously expected to complete the change in March 2012, FTD said.

TRADE

China signs Botswana deals

A delegation led by Chinese Vice President Xi Jinping (習近平) signed several agreements with Botswana on Sunday to further strengthen ties between the two countries. The two signed an agreement on economic and technical cooperation with a grant of about US$6 million, as well as other accords on infrastructure and energy development. Xi was expected to leave Gaborone yesterday morning after visiting Botswana Diamond Trading Company (DTCB). DTCB is a 50/50 joint venture partnership between Botswana and De Beers. It is the world’s largest diamond sorting and valuing operation.

TELECOMS

Firms forced to apologize

Two of China’s leading Internet firms have been forced by the government to issue public apologies over a nasty spat marked by accusations of unfair market practices and privacy infringement. Tencent (騰訊), parent company of the popular instant messaging service QQ, and security software developer Qihoo 360 (奇虎360) issued the apologies late on Sunday after being ordered to do so by the Chinese Ministry of Industry and Information Technology. The public feud began in September when Tencent encouraged users to download its upgraded security software. Qihoo 360 subsequently accused QQ of trying to scan its users’ personal data and it issued tools to block QQ components.

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