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Fri, Nov 16, 2007 - Page 10 News List

World Business Quick Take


Prices mixed after report

Oil prices were mixed in Asian trade yesterday ahead of a weekly US government report on the country's energy stockpiles, dealers said. Trading interest was largely muted after OPEC rejected calls from the US for the cartel to raise output, they said. In afternoon trading New York's main contract, light sweet crude for delivery next month, gained US$0.02 to US$94.11 a barrel from US$94.09 in late US trades on Wednesday. Brent North Sea crude for delivery next month fell US$0.06 to US$91.30. OPEC chief Abdallah al-Badri on Wednesday rejected US calls for increased oil output to cool record prices, saying the market is already well supplied.


Dell to use Solaris system

Dell Inc has agreed to install Sun Microsystems Inc's Solaris operating system in some of its servers, the companies announced, signaling Sun's latest truce with a former rival. The chief executives of both firms announced the multi-year partnership together on stage on Wednesday at the Oracle OpenWorld conference in San Francisco. Financial terms of the deal were not disclosed. Sun commands 13 percent of the worldwide server market, while Dell commands about 12 percent, according to the latest data from market research firm IDC.


CNN to increase staff

CNN Worldwide plans to boost its correspondent staff by 10 percent as part of a multimillion-dollar investment to increase CNN's ability to generate original news content, the network said on Wednesday. CNN Worldwide, a unit of media conglomerate Time Warner Inc, said it will invest just under US$10 million to add 15 or 16 correspondents to its existing staff of 150. The announcement comes two months after CNN said it would not renew its contract to receive news from Reuters Group PLC and instead bolster its own news resources.


L'Oreal sells some stock

Cosmetics leader L'Oreal has sold 1.8 percent of its stock in pharmaceutical group Sanofi-Aventis for some 1.5 billion euros (US$2.2 billion), the company said on Wednesday. The transfer took the form of private placement, with the shares sold at 60.50 euros each, it said. The "transaction was completed within a few hours and will yield proceeds of approximately [1.5 billion euros] to L'Oreal," it said in a statement. L'Oreal's stake in Sanofi-Aventis was cut to 8.7 percent as a result of the sale. It said it would use the proceeds of the sale to fund "development and strategic projects."


Going.com to sell tickets

Social networking Web site Going.com said on Wednesday its users will be able to buy event tickets on the site, starting with a Moby concert this week. Going.com allows users to check who else plans to go to a concert or party to help decide whether to attend, and they can see how many people are interested in an event like the Moby concert. The Web site features mostly user-organized events for the 20-something crowd in Boston, San Francisco, New York, Los Angeles and Chicago. It plans to launch in Miami and Atlanta in the next couple weeks and 10 other cities early next year. The site seeks to tap the changing market for ticketing, which has been largely dominated by sellers like Ticketmaster.

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