Print

Mail

wiki links

World business quick take

■ Baycol
Bayer faces 3,500 lawsuits
Bayer AG, Germany's biggest drugmaker, is facing more than 3,500 lawsuits relating to the withdrawn cholesterol-lowering drug Baycol, a spokeswoman said. Bayer said in August it had been notified of more than 2,000 lawsuits relating to the drug. It has settled 100 claims, spokeswoman Annette Josten said, confirming a Financial Times Deutschland report. She wouldn't comment on the amounts paid or whether Bayer plans to settle more claims. The Leverkusen, Germany-based company hasn't set aside any money to pay for possible damages. "We're insured against product liability risks to an extent customary in the industry," Josten said. "We have at this point no reason to believe that it's necessary to establish a provision." Baycol, also known as Lipobay, was withdrawn by Bayer in August 2001 after being linked to muscle-weakening in some patients and more than 100 deaths.

■ Computers
Sales still strong in Asia
Sales of personal computers in Asia surged past 6 million units for the first time in the September quarter, a report released yesterday said. Research house International Data Corp said its preliminary data for the three months showed demand in Asia outside of Japan grew 12 percent from the previous quarter to 6.52 million units, or a 15 percent increase from last year's September quarter. China was the main catalyst for the jump in PC demand, but hopes the market would recover firmly from last year's downturn was premature at this stage given the anaemic global economic conditions, IDC said. "The breakthrough of this mental milestone should serve to encourage the industry during such gloomy times," said Bryan Ma, IDC's regional research manager for personal systems.

■ Automakers
Union approves contract
The 12,500 unionized workers at DaimlerChrysler Canada approved a three-year contract hammered out for them by the Canada Auto Workers, the union announced Sunday. The CAW said 91 percent of production workers, 80.5 percent of skilled trades workers and 92.8 percent of technical, office and professional staff voted in favor of the deal. Under the terms of the contract worked out last week, DaimlerChrysler promised an investment for a "world class factory in Windsor, Ontario, the union said. The deal also matches the wage-increase pattern set by earlier negotiations with General Motors Canada and Ford Canada of 3 percent in each of the first two years of the contract and 2 percent in the final year.

■ APEC summit
Vietnamese to attend
Vietnamese Prime Minister Phan Van-khai left Hanoi yesterday on a 10-day swing through the Americas, during which he will attend the APEC summit in Mexico. Prior to the weekend meeting at Los Cabos of 21 leaders, including presidents George W. Bush, China's Jiang Zemin, and Russia's Vladimir Putin, Khai is set to arrive in Chile today. It will be the first official visit to the country by a Vietnamese prime minister since diplomatic relations were established in June 1972. "The visit will further promote cooperation with Chile especially in economic and trade matters," foreign ministry spokeswoman Phan Thuy-thanh told reporters last week. After the APEC summit Khai will then head to Cuba on Oct. 28 for three days.
Agencies
This story has been viewed 1732 times.