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World Business Quick Take

■BIOTECHNOLOGY

Monsanto under investigation

The US Justice Department is investigating whether Monsanto Co violated antitrust rules in trying to expand its dominance of the market for genetically engineered crops. Monsanto has provided interviews and documents to the Justice Department, company spokesman Lee Quarles said. He said the department has questioned Monsanto about its marketing tactics in the biotech seed industry, which have been criticized. At issue is how the company sells and licenses its patented genes. Monsanto has licensing agreements with seed companies that let those companies insert Monsanto genes into about 96 percent of US soybean crops and 80 percent of all corn crops. Rivals allege Monsanto uses the licensing agreements to squeeze competitors and control smaller seed companies — an allegation Monsanto denies.



■GERMANY

Consumer prices decline

German consumer prices declined somewhat last month, as did exports during the month of August, official data showed yesterday, evidence that Europe’s largest economy is recovering only gradually. The Federal Statistical Office said German consumer prices fell by 0.3 percent on the year last month, and were 0.4 percent lower compared with August. Meanwhile, exports fell 1.8 percent in August from the previous month and were 20 percent lower compared with August last year. The monthly drop was the first decline after three consecutive months of export gains. The office said Germany exported goods in August valued at 60.4 billion euros (US$88.2 billion), while imports fell more than 19 percent on year-ago levels to 52 billion euros in August.



■RETAIL

Design house in trouble

Japanese fashion design house Yohji Yamamoto says it has filed for bankruptcy protection. The company said yesterday its sales had been battered by sluggish demand amid the global economic slowdown with debts totaling ¥6 billion (US$67 million). Under Japan’s corporate rehabilitation law, the designer house will continue its businesses at home and abroad. The company said designer Yohji Yamamoto will continue his work.



■JAPAN

Orders rise 0.5 percent

Japan’s core machinery orders, a leading indicator of corporate capital spending, rose a smaller-than-expected 0.5 percent in August from the previous month, government data showed yesterday. The result follows a roller-coaster movement of a 9.3 percent drop in July and a 9.7 percent jump in June and was a more moderate rise than the average market forecast for a rise of 2.1 percent. Core machinery orders, compared with a year before, fell 26.5 percent in August following a 34.8 percent drop in July and a 29.7 percent drop in June.



■TECHNOLOGY

Infosys profits fall

Infosys Technologies Ltd. says quarterly profit fell 0.9 percent from a year earlier, but raised its revenue forecast for the fiscal year ending next March. Infosys reported US$317 million in net income for the quarter ended Sept. 30 based on international accounting standards, beating its own forecast. Revenues for the period were US$1.15 billion, a 5.1 percent decline from the same period a year earlier but a 2.9 percent improvement from the prior quarter. Infosys chief executive S. Gopalakrishnan says “the business climate has improved.” Infosys says it expects revenues for the fiscal year to be US$4.6 billion to US$4.62 billion, about 1 percent less than last year, but a more optimistic forecast than it made in July.


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