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Thu, Jul 16, 2009 - Page 10 News List

World Business Quick Take

AGENCIES

■INTERNET

Google office hit by flu

Internet search leader Google Inc shut one of its offices in southern India for two days after an employee tested positive for swine flu, a company statement said yesterday. The office in Hyderabad with 250 workers was closed on Tuesday and yesterday while it was being sanitized, the statement said. However, the main office in the city, a key software hub in the country, was functioning normally. “One of our contractual workers in Hyderabad has been diagnosed with the virus. He has been hospitalized and is under full medical care,” the statement said.

■RETAIL

Burberry revenue down

British luxury goods company Burberry Group PLC said yesterday that total revenue fell 4 percent in the three months to June 30, dragged down by a slump in wholesale revenue. Though total revenue of £229 million (US$375 million) was down on a constant currency basis during the firm’s first fiscal quarter, Burberry said revenue was up 8 percent on a reported basis. “The United States and Spain remain more difficult markets, with comparable store sales in both markets again down double-digit in the quarter,” the company said. Russia and parts of the Middle East were also difficult, but China “continues to perform strongly,” the company said.

■RETAIL

Johnson & Johnson sales hit

Health care products maker Johnson & Johnson on Tuesday said its second-­quarter profit fell 3.5 percent, as the global recession, strong dollar and generic competition took their toll on sales, particularly for prescription drugs. The New Brunswick, New Jersey-based maker of baby shampoo, Tylenol, contraceptives and biotech drugs earned US$3.21 billion, or US$1.15 per share, down from US$3.33 billion, or US$1.17 a share, a year ago. Revenue fell 7.4 percent to US$15.24 billion from US$16.45 billion a year ago. “This was one of the most difficult years in our history,” chief financial officer Dominic Caruso told analysts during a conference call. But he said operational results were better than expected.

■ELECTRONICS

LG expands production line

South Korea’s LG Display Co, one of the world’s top liquid-crystal-display (LCD) panel makers, said yesterday it would invest 3.27 trillion won (US$2.6 billion) to meet the growing demand for flat-screen TVs. The company plans to expand its LCD display production lines at its plant in Paju, 25km north of Seoul, it said. “The company has been experiencing a shortage of 20 [percent] to 30 percent” in its supply to meet swelling demand, the company said in a statement. It plans to start production at the new facility in the second half of next year, the statement said.

■TRANSPORT

Bombardier wins contract

Canada’s Bombardier Transportation has received a US$255 million contract to supply, operate and maintain an automated transit system at the Phoenix international airport in Arizona. Under the contract signed with the southwestern US city, the rail technology giant said on Tuesday it would design and supply 18 driverless vehicles and its accompanying electrical and communications system at its facility in Pittsburgh, Pennsylvania. The contract’s value includes a design-build contract estimated at US$186 million and a separate contract of about US$69 million for Bombardier to maintain and operate the system for 10 years.

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