Wed, Dec 26, 2012 - Page 15 News List

World Business Quick Take

Agencies

INTERNET

Netflix hit by outage

Families across the US will have to rely on other sources of entertainment after Netflix’s video streaming service was hit by a Christmas Eve outage. The company based in Los Gatos, California, apologized in a company tweet for the outage on Monday night. The company says on its Twitter page that the outage was caused by “some of Amazon’s cloud infrastructure.” Netflix says it was working with Amazon engineers to restore the outage, which a company spokesman told the Wall Street Journal stretched “across the Americas.” Attempts to reach Netflix by The Associated Press were unsuccessful.

SHIPBUILDING

Daewoo wins Norway order

South Korea’s Daewoo Shipbuilding and Marine Engineering yesterday said it had secured a 1.9 trillion won (US$1.8 billion) order to build a fixed platform for Norway’s Statoil ASA. Daewoo said it would complete the 31,000-tonne offshore platform for the production of oil or gas by the end of 2016. The platform capable of producing 80,000 barrels of crude a day would be installed on the continental shelf in the British sector of the North Sea, it said. The shipbuilder said it had won a total of US$12.7 billion in orders so far this year, including the platform.

ENERGY

Mozambique picks CC JV

A joint venture consisting of US company CB&I and Japan’s Chiyoda Corp has been picked to participate in a liquefied natural gas (LNG) project in Mozambique, CB&I said on Monday. “CC JV, a joint venture comprising of CB&I and Chiyoda Corp, has been awarded a contract for the Front End Engineering and Design for the onshore natural gas liquefaction facility project in an LNG park in the Cabo Delgado Province of ... the Republic of Mozambique,” it said in a statement. Texas-based Anadarko said on Friday it had reached an agreement with Italy’s ENI to jointly plan and construct the LNG plant, which the CB&I release said was the first of its kind in Mozambique. The first LNG cargo is planned for 2018.

SOFTWARE

Microsoft’s Mundie retiring

Microsoft announced on Monday that company veteran Craig Mundie has stepped down from his post as chief of research and will retire in 2014. Mundie, who was one of two executives who assumed responsibilities left behind by Bill Gates when the Microsoft co-founder retired in 2008, will now serve as an adviser to chief executive Steve Ballmer. “In this role, he works on key strategic projects within the company, as well as with government and business leaders around the world on technology policy, regulation and standards,” Microsoft said on its Web site.

UNITED STATES

El-Erian to advise president

US President Barack Obama will appoint Pacific Investment Management Co (Pimco) CEO Mohamed El-Erian to head the US global development council. El-Erian, who shares the title of co-chief investment officer of Newport Beach, California-based Pimco with Bill Gross, will be chairman of Obama’s global development council, which was created earlier this year to advise the president on ways to promote economic development and good governance in countries all over the world, according to a statement from the White House on Friday. El-Erian, 54, will head the council as a member of the private sector and his role at Pimco won’t change.

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