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■ Textiles
EU calls for talks with China
The EU executive commission yesterday called for emergency talks with China over its surging textiles exports, bringing swift import curbs one step closer despite high-level talks earlier this week. "The Commission gave the green light to [EU Trade Commissioner] Mr [Peter] Mandelson to ask for formal consultations with China," European Commission chief spokeswoman Francoise le Bail told a news conference. The commission said it would ask for talks on May 31 if there was no agreement with China after which a 15-day clock would start ticking in the countdown to import curbs. Chinese textile exports have boomed since global quotas were scrapped at the start of the year, sparking concern in the US and Europe that a flood of cheap imports will bankrupt domestic producers and cause massive layoffs.

■ Technology
Kodak delays camera launch
Eastman Kodak Co is delaying its launch of a highly touted digital camera that will use wireless technology to transfer images to computers, printers or kiosks. The 4-megapixel EasyShare-One camera, unveiled in January, was expected to arrive in stores next month. But Kodak said on Tuesday it will be shipped in October to take advantage of the end-of-year holiday shopping season. "What we're doing is taking the necessary time to ensure the best possible customer experience with the camera," said Kodak spokesman Gerard Meuchner, adding that the camera brings "significant technological advances to the marketplace." The camera will carry a US$699 price tag and boasts a 76mm touch-screen display.

■ Internet
Singapore goes wireless
Internet costs in an already wired Singapore are set to fall after the government decided to triple the number of broadband operators to six and allow them to operate over wireless technology. The Infocomm Development Authority (IDA) awarded the licenses to the four new entrants on Tuesday and allowed the two existing operators, SingTel and StarHub, to operate on wireless as well as their existing cable systems. The licenses were granted after a government auction, with bidders paying between S$215,200 (US$130,400) and S$550,000 for a single lot on the frequency spectrum. With the companies buying multiple lots, some operators paid more than S$2 million for a wireless service that will reach across the country. The IDA said the wireless services can begin operating from July 1.

■ Utilities
Buffett clinches energy deal
Striking the second biggest deal of his career and making a major move in the energy industry, billionaire investor Warren Buffett agreed on Tuesday to pay US$5.1 billion in cash to acquire Western states electric utility PacifiCorp. Only a US$16 billion stock purchase of reinsurance giant General Re in 1998 outranks the latest buy for Buffett's investment vehicle, Berkshire Hathaway Inc, which holds a majority interest in PacifiCorp's buyer, Iowa-based MidAmerican Energy Holdings Co. "The energy sector has long interested us, and this is the right fit," Buffett said. MidAmerican will purchase Portland, Oregon-based PacifiCorp from Scottish Power PLC, which acquired the utility in 1999. In addition to the cash payment, MidAmerican will assume US$4.3 billion in PacificCorp debt and preferred stock. The transaction is expected to close next year.

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