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Fri, Nov 02, 2007 - Page 10 News List

WORLD BUSINESS: QUICK TAKE

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Models display clothes decorated with hundreds of Austrian gold coins worth more than US$1.27 million at the Bunka Fashion college student fashion show in Tokyo yesterday. Gold hit a 28-year high yesterday after the US dollar tumbled to a record low against main currencies and oil soared to all-time highs, but the rally lost steam just a fingertip away from hitting US$800.

PHOTO: REUTERS

■ INTERNET

Google shares hit US$700

Shares in Internet search behemoth Google surpassed US$700 for the first time on Wednesday, cementing the technology firm's position as one of the US' most valuable companies. Google's shares closed up 1.7 percent at US$707.00 amid wider market gains as investors continued to snap up its shares. Its share price has multiplied by eight since its stock market debut in August 2004. The shares, which have rocketed US$100 in the past three weeks, were boosted by better-than-expected third-quarter earnings and news reports that Google was holding talks with Verizon Wireless and Sprint Nextel to market mobile phones packed with Google software.

■ GAMING

Game over for Famicom

It could soon be game over for the Famicom, the vintage family computer that two decades ago set Japan's Nintendo on a path to become a global video game icon. Nintendo has decided to stop repairing the Famicom, the console that wowed the world with Super Mario Brothers and Dragon Quest, because stocks of spare parts are running out, company spokesman Ken Toyoda said. The family computer, which was sold as the Nintendo Entertainment System in the US and Europe, made its world debut in Japan in 1983. It went on to sell almost 62 million units worldwide and was followed by the Super Famicom, repairs of which will also be halted.

■ NETWORKING

Cisco expanding in China

Network gear maker Cisco Systems Inc yesterday announced a multi-year, US$16 billion series of initiatives to expand in China with investments in manufacturing, venture capital and education efforts. "We're going to the next chapter for Cisco in China," Cisco CEO John Chambers said at a news conference. The ventures include a partnership with Alibaba Group (阿里巴巴), China's biggest online commerce firm, to develop business services for small and medium-sized firms, he said.

■ ENERGY

LG to set up consultancy

LG Electronics Inc said yesterday it would start a new business to help customers improve energy efficiency, a move it sees protecting the environment and boosting sales of its commercial air conditioners. LG said in a statement that the energy consultancy, to be launched next year, "will work with customers through the entire process of establishing an energy system for public buildings, from suggestion to planning, ordering, operational supervision and maintenance of the energy system."

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