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World Business Quick Take

■ TECHNOLOGY

Microsoft not raising offer

Microsoft is not planning to raise its US$44.6 billion bid for Yahoo, the Wall Street Journal reported yesterday. The newspaper cited people close to Microsoft's hostile Feb. 1 offer for Yahoo as insisting that no higher bid to its original price of US$31 a share would be forthcoming. "Such pronouncements are standard in deal negotiations, but people close to Microsoft insist the stance isn't posturing," the Journal said. Yahoo has rejected the bid from the outset and board members have maintained that Yahoo is worth at least US$40 per share. "There's no reason to bid against ourselves," a source on the Microsoft side told the Journal.



■ COMPUTERS

Dell to close Texas facility

Dell says it will save as much as US$3 billion over the next three years as it cuts costs and lays off workers. The world's No. 2 computer maker said on Monday it will close its desktop manufacturing facility in Austin, Texas. Dell Inc is also reaffirming its plan -- announced last year -- to cut at least 8,800 jobs, or about 10 percent of its work force. In the last nine months of this fiscal year, the Round Rock, Texas-based company cut 3,200 jobs. Dell is also reviewing alternatives for its financial services business, especially its consumer and small to medium business revolving credit financing receivables.



■ ENTERTAINMENT

Sony to offer phone movies

Sony Pictures Television says it will become the first Hollywood studio to offer full-length movies by cellphone. The unit of Japanese electronics maker Sony Corp says it will offer a range of popular titles on special AT&T Inc phones next month. The movies, such as Bugsy, Ghostbusters and Karate Kid, will be among those that have made their theatrical and DVD runs and have been broadcast on TV already. The movies will be streamed with looped advertisements and not be available on demand. AT&T says that it has not yet determined a price on the new subscriber package.



■ technology

IBM suspended by feds

Technology giant IBM said on Monday it had been temporarily suspended from seeking new business with US federal agencies, amid an investigation into possible procurement irregularities. The suspension was issued by the Environmental Protection Agency (EPA), which is probing "possible violations" of federal procurement rules in a bid for EPA business originally submitted in March 2006, IBM said in a statement. The move applies to all federal agencies and IBM business units, although existing contracts may continue unless a particular agency says otherwise.



■ STEEL

POSCO unveils plans

South Korea's steel giant POSCO yesterday unveiled plans to triple its total revenues in a decade by strengthening flagship steel operations and seeking new growth engines. By 2018, the world's fourth-largest steelmaker aims to achieve 70 trillion won (US$71.1 billion) in annual revenue from steel operations. POSCO in January set a revenue target of 34.3 trillion won for this year on a consolidated basis. POSCO said it would boost annual steel production to more than 50 million tonnes -- 40 million tonnes at home and the rest overseas -- from this year's targeted output of 35 million tonnes.