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World Business Quick Take

■ RETAIL

Benetton profits increase

The family owned Benetton apparel maker on Thursday reported a 16 percent increase in net profit for last year, reflecting a better product offering and good sales outside Italy. According to preliminary figures, profit for the past year was 145 million euros (US$214 million), while revenue increased 9 percent to 2.08 billion euros. Benetton said in a statement it expects this year's profit to rise 7 percent. Sales increased about 9 percent last year and were estimated to rise between 6 percent and 8 percent this year.



■ COMPUTERS

Apple cuts order forecast

Apple Inc, the world's largest buyer of flash memory chips, slashed its projected orders for the semiconductor this year, which may lead some suppliers to post losses this quarter, research firm iSuppli Corp said. Global sales of so-called NAND flash chips will rise "marginally" this year, instead of the 27 percent increase forecast earlier, the California-based researcher said yesterday. "Apple has slashed its 2008 NAND order forecast significantly," iSuppli said, without giving figures. "In light of these factors, NAND suppliers are likely to go into the red in the first quarter and are not likely to recover in the second."



■ ENERGY

Mega solar plant planned

Abengoa Solar plans to build the world's largest solar plant in Arizona in cooperation with an energy utility, the companies said on Thursday. Abengoa Solar, a subsidiary of Spain's Abengoa technology company, signed a contract with Arizona Public Service Co (APS) to build, own and operate what would be the largest solar power plant in the world "if it were operating today," they said. The plant will sell the electricity produced to APS over the next 30 years, generating total revenue for Abengoa Solar of around US$4 billion and "bringing over US$1 billion in economic benefits to the state of Arizona." The plant will have the capacity to power 70,000 homes.



■ MEDIA

News Corp ups investment

News Corp, the global media company run by Rupert Murdoch, said on Thursday it has lifted its stake in Premiere AG, Germany's biggest pay television operator, to nearly 20 percent. The New York-based company, whose holdings include Fox news channel and Dow Jones Newswires, said it increased its stake from the 14.6 percent it bought from Unitymedia last month to 19.9 percent. The price it paid was not disclosed and News Corp did not say if it purchased the additional shares on the open market or from another investor.



■ AVIATION

Continental orders planes

Continental Airlines said on Thursday it had ordered 27 Boeing aircraft, bringing its total firm orders with the US aerospace giant to 111 for delivery in the next six years. Eight 777s and 19 Next-Generation 737 aircraft from Boeing were ordered, the airline said, without disclosing the value of the purchase. According to catalog prices on Boeing's Web site, a 777 costs US$200 million to US$279 million and a 737 US$50 million to US$85 million, valuing the deal at up to US$3.84 billion. The Texas-based airline said it would use the new 777s to serve international routes.
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