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World Business Quick Take

■ STEEL

ArcelorMittal posts profits

ArcelorMittal, the world's largest steel company, reported yesterday an annual net profit of US$10.36 billion for last year. The results represented a 30 percent increase from 2006 when the steelmaker posted a pro forma net profit of US$7.9 billion, the company said in a statement. The results marked the first full year following the merger of Arcelor and Mittal Steel in June 2006. "I am very proud of the way the two companies have integrated so successfully, building a steel company which is focused on leading the transformation of our industry towards a sustainable future," Lakshmi Mittal, president and CEO, said in the statement.



■ INTERNET

Yahoo acquires Maven

Undeterred by the threat of a hostile takeover, slumping Internet pioneer Yahoo Inc completed an acquisition of its own on Tuesday by buying online video service Maven Networks Inc for US$160 million. The deal marks Yahoo's latest attempt to expand its online advertising network and snap out of a two-year financial funk that has culminated in unsolicited takeover offer from Microsoft Corp. Yahoo's board rejected the bid on Monday, prompting Microsoft to raise the possibility of taking its offer -- originally valued at US$44.6 billion or US$31 per share -- directly to shareholders.



■ ELECTRONICS

BlackBerry problem solved

A disruption of BlackBerry cellphones in North America for several hours on Monday was caused by the failure of one of its recently upgraded systems, Research in Motion said on Tuesday. The Canadian maker of the hugely popular mobile devices that combine telephone, e-mail and Internet capabilities said its preliminary analysis "points to a problem with an internal data routing system within the BlackBerry service infrastructure that had been recently upgraded." The upgrade was part of RIM's routine and ongoing efforts to increase overall capacity to meet long-term growth in demand, the company said.



■ INTERNET

Valentine's Day warning

Valentine's Day e-greetings from a stranger could deliver more than the recipient bargained for in the shape of a destructive "Trojan horse" that hijacks computers, the FBI warned on Tuesday. "If you unexpectedly receive a Valentine's Day e-card, be careful," the FBI said in a statement, warning Internet users to "be on the lookout for spam e-mails spreading the Storm Worm malicious software [malware]." "The Storm Worm virus has capitalized on various holidays in the last year by sending millions of e-mails advertising an e-card link within the text of the spam e-mail. Valentine's Day has been identified as the next target," the FBI said.



■ PUBLIC RELATIONS

Pro bono summit held

Some of the US' biggest companies are pledging to work free of charge as part of a US$1 billion campaign to be announced at a pro bono summit yesterday. The campaign's goal is to get US$1 billion in pledges over the next three years from companies that will give employee time to nonprofit groups. Organized by the President's Council on Service and Civic Participation, the campaign is designed to help nonprofits fulfill back-office services such as marketing, accounting, technology and management consulting.
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