Wed, Jan 05, 2011 - Page 10 News List

World Business Quick Take

AGENCIES

AVIATION

easyJet to buy Airbus planes

British no-frills airline easyJet yesterday said it had agreed to buy 15 Airbus A320 single-aisle planes worth US$1.1 billion and had secured an option to buy another 33. “easyJet PLC today announced that it has reached agreement with Airbus to exercise existing options over 15 Airbus A320 aircraft for delivery between 2012 and 2014 and to secure new options over a further 33 A320 aircraft,” the company said. It added that “whilst the total list price for the 15 new A320 aircraft should be approximately US$1.1 billion ... easyJet has been granted substantial confidential price concessions” from European planemaker Airbus.

CONGLOMERATES

San Miguel eyes shipping

San Miguel Corp one of the Philippines’ largest companies, said yesterday it was planning a big investment in the local shipping industry, after a unit acquired a substantial stake in a Manila port. The company famous for its beer said it was setting aside an initial 20 billion pesos (US$457.5 million) for a project to house the supply requirements of its increasingly diverse businesses at a Manila harbor. “We advise that the company and its subsidiaries are evaluating the viability of constructing a centralized and integrated logistics complex within the Manila North Harbor area,” the listed firm said in a market disclosure.

ELECTRONICS

Motorola splits into two

Motorola split into two companies yesterday, marking the final step in the years-long breakup of the consumer electronics industry pioneer. Motorola began selling car radios in the 1930s, followed by TVs in the ‘40s and cellphones in the ‘80s. The breakup that began in 2008 is motivated by the desire to present two simple businesses to investors rather than one complicated one. Motorola split its consumer-oriented side, which makes cellphones, from the professional business of selling police radios and barcode scanners to government and corporate customers. The companies, Motorola Mobility and Motorola Solutions, began trading on the New York Stock Exchange yesterday.

INTERNET

Hotmail back to normal

Microsoft Corp’s Hotmail service, the world’s most-used online e-mail system, is back to normal operations on Monday after some users over the weekend lost access to e-mails or found them transferred to a deleted mail folder. The world’s largest software company, which has more than 360 million Hotmail users, said it had “restored full e-mail access and recovered content to those who were affected.” Microsoft’s online message boards and Twitter were abuzz with complaints on Sunday about the Hotmail glitch. Microsoft said it was still investigating the root cause of the problem, which started four days ago.

BANKING

US bankruptcies rise 9%

US consumer bankruptcy filings rose 9 percent last year compared with 2009, reaching 1.53 million, according to the American Bankruptcy Institute — lower than its projection that bankruptcies would total 1.6 million. The pace of bankruptcy filings slowed in the last quarter, with fewer petitions in October and November than during the same period a year earlier, the Alexandria, Virginia-based institute said. The slowdown at the end of the year was the result of more consumers reducing debt and cutting spending, institute executive director Samuel Gerdano said on Monday.

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