Print

Mail

wiki links

World Business Quick Take

■ Currencies
Seoul tackles rising won
The South Korean government will not allow a steep rise in its currency against the US dollar, a senior economic official said yesterday after the won hit a new seven-year high. The government will not "just sit and watch" the South Korean won rise sharply against the dollar, Bahk Byong-won, deputy minister of finance and economy, said at a regular news briefing. Authorities were believed to have bought dollars for a second straight day yesterday to help keep the US currency above the key threshold of 1,000 won.

■ Electronics
HP to name new boss soon
Hewlett-Packard Co may name a new chief executive officer as early as the end of the month, just seven weeks after Carleton Fiorina was ousted, Business Week reported. Richard Belluzzo, chief executive of Quantum Corp and a former HP executive, has emerged as a "strong candidate," the magazine reported. Other candidates include Intel Corp executive vice president Sean Maloney, Symantec Corp CEO John Thompson and International Business Machines Corp senior vice president of global services John Joyce, Business Week said. It added that these executives say they're not interested in the job.

■ DVDS
Apple backs Blu-ray format
Apple Computer Inc is supporting the Blu-ray format for next-generation DVDs, giving it a boost in its battle with a rival format, HD-DVD, to set a new standard for recording high-definition video and other digital information. Other members of the Blu-ray alliance include Sony Corp, Matsushita Electric Industrial Co, Dell Inc, Samsung Electronics Co and The Walt Disney Co.

This story has been viewed 1661 times.