Print

Mail

wiki links

World Business Quick Take

■ AUTOMAKERS
Tiny Toyota in the making
Toyota Motor Corp plans to introduce a fuel-efficient ultra-compact four-seater vehicle in Europe by around 2009 to meet rising demand for low-pollution cars, a report said yesterday. The vehicle will be based on the "iQ" prototype that the Japanese automaker exhibited at this month's Frankfurt auto show, the Nikkei Shimbun said, without citing its sources. Measuring just 2.98m long, the iQ is around 80cm shorter than Toyota's Yaris subcompact, it said. The car is expected to carry up to four people and have a 1 liter-class engine, with the price yet to be decided, the report said.

■ ELECTRONICS
Cisco, Haier strike deal
Cisco Systems Inc, the world's biggest network equipment maker, announced a deal yesterday with China's largest appliance manufacturer to share expertise in constructing home network technology. The deal with Haier Group (海爾集團) comes as technology and home electronics companies forge ties to profit from the growing integration of the Internet with home entertainment. Cisco and Haier will share expertise in management and constructing "information infrastructure and home networking systems," the companies said in a joint statement. They gave no details of how their cooperation would work or what products they might develop together.

■ ENERGY
San Miguel bids for grid
Southeast Asia's top food and beverage firm San Miguel Corp said yesterday it wanted to run the power transmission grid in the Philippines. The firm, one the country's largest, told the stock exchange its unit San Miguel Energy had allied with a Malaysian utility and a US fund for the bid. The franchise to operate the power grid for the next 25 years is to be auctioned off in December. San Miguel has amassed a cash pile of more than 35 billion pesos (US$772 million), which it will use to diversify into utilities, mining and property development.

■ AVIATION
Airbus short-lists partners
Commercial jet builder Airbus has named five suppliers as potential partners to take over some of its manufacturing facilities in France, Germany and Britain, the company said on Monday. The short list, narrowed from 11 contenders, includes GKN PLC of Britain, Aviation Latecoere of France, the two German companies Voith AG and MT Aerospace and US-based Spirit AeroSystems Inc. Airbus gave no date for a further decision, saying there were no front-runners and it wouldn't be rushed into a choice. Airbus is looking for partners for its manufacturing sites as part of a broad restructuring and cost-cutting program.

■ NUCLEAR ENERGY
Westinghouse to buy Astare
US nuclear reactor manufacturer Westinghouse Electric Co, a group company of Japan's Toshiba Corp, has reached an agreement to acquire French nuclear engineering company Astare, it said yesterday. Westinghouse and Toshiba did not disclose the terms of the agreement. Westinghouse vice president of engineering Nick Liparulo said the deal should help Westinghouse prepare for expected growth in the industry around the globe. Astare will continue to operate as Astare.

This story has been viewed 983 times.