Thu, Jul 28, 2011 - Page 10 News List

World Business Quick Take



Dunkin’ Brands’ IPO priced

The parent company of Dunkin’ Donuts and ice-cream chain Baskin-Robbins is pricing its initial public offering at US$19 a share, above the forecast price range. Dunkin’ Brands Group Inc says it is offering roughly 22.3 million shares at US$19 each. The stock was scheduled to start trading yesterday on the Nasdaq market under the ticker symbol DNKN. At US$19 a share, the stock sale will raise about US$423 million before expenses. Dunkin’ Brands plans to use the IPO funds to pay down debt, but could also have money left over for expansion plans.


LG’s Q2 profits tumble

South Korea’s LG Electronics said second-quarter net profits plunged 87.3 percent from a year earlier due to flagging sales of mobile phones and televisions. Net profit was 108.4 billion won (US$103.4 million) from April to last month, compared with 856.4 billion won a year earlier. The second-quarter result represents a return to profitability following two quarters of losses.


Consumer prices up 0.9%

Australian consumer prices rose more than expected last quarter while key measures of underlying inflation were alarmingly high, reviving pressure for an increase in interest rates and lifting the Australian dollar to a 29-year peak. The main trimmed-mean measure of underlying inflation rose 0.9 percent in the second quarter, above the 0.7 percent forecast and matching the high result from the first quarter. The headline measure of consumer prices (CPI) increased by 0.9 percent in the second quarter, again above market forecasts with a range of prices up from fruit to health and petrol. For the year, the CPI was up 3.6 percent, the fastest pace since late 2008.

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