Elpida Memory shares fall
Shares in Elpida Memory Inc, the Japanese computer chipmaker being reorganized with government support, fell in Tokyo trading after the Asahi Shimbun said the firm could seek a delay in repaying public funds. Elpida, the nation’s largest maker of DRAM chips, dropped 5.1 percent to close at ￥351, the biggest fall since Dec. 19. The company, whose shares have tumbled 63 percent this year, declined to comment in an e-mailed statement to Bloomberg News. Elpida received ￥30 billion (US$386 million) of public funds through the state-run Development Bank of Japan to restructure its business, in addition to ￥100 billion in loans from private banks.
Lion plans private service
The Indonesian budget carrier Lion Air, which announced the world’s biggest-ever commercial aircraft order last month, plans to launch a private jet service by the middle of next year, the company said yesterday. Lion Air is negotiating a deal for four, nine-seater jets with US-based Hawker Beechcraft, which builds special-mission, business and trainer aircraft, Lion Air spokesman Edward Sirait said.
GDP growth slows
The nation’s GDP grew at a slower pace this year than a year ago amid doubling inflation and a trade deficit. The General Statistics Office said yesterday that the country’s economy had maintained “reasonable” growth of 5.9 percent, despite global and domestic economic turbulence. Economic growth was 6.8 percent last year. Inflation doubled to 18.6 percent this year from 9.2 percent a year earlier and the trade deficit stood at US$9.5 billion, down from US$12.6 billion from a year ago.
Business confidence falls
The business confidence index fell this month after rising last month, Rome-based national statistics institute Istat said in a statement yesterday, after a tough Christmas season for the retail sector. The index was at 92.5 points, the lowest since December 2009, from a revised 94. The mood among executives mirrors consumer pessimism as Prime Minister Mario Monti implements a 30 billion euro (US$39 billion) package of spending cuts and tax increases. Consumer confidence this month fell to the lowest in 16 years and the economy shrank in the third quarter.
Disney may buy out UTV
Walt Disney Co offered to buy the shares of India’s UTV Software Communications Ltd it does not own starting on Jan. 16. Disney offered to buy the stock from retail shareholders for between 835.03 rupees and 1,000 rupees, according to an advertisement in the Economic Times newspaper on Wednesday. The offer will close on Jan. 20. Disney already owns 50.44 percent of UTV.
Apple archives at Stanford
Historians who want to understand the rise of Apple Inc will find a treasure trove of clues in Stanford University’s Silicon Valley Archives. Stanford is home to the world’s largest collection of Apple-related historical artifacts, most of which the consumer electronics company donated to the university in 1997. Stanford’s Apple Collection takes up more than 183m of shelf space and includes photos, computer blueprints, user manuals, software, hardware, magazine ads, TV commercials, company T-shirts and pins, and handwritten financial records.