IN BRIEF (Page 16)

No prosecution

British payments processor NETeller Plc will forfeit $136 million but will not be prosecuted for conspiracy under a deferred prosecution agreement with the US government announced on Wednesday.

The agreement is the latest step in a US crackdown on Internet gambling that began a year ago with the arrest of the then-chief executive of BETonSPORTS David Carruthers.

LG in the black

South Korea's LG Electronics Inc swung to a profit in the second quarter as a turnaround in its LCD venture and strong mobile phone sales outweighed heavy losses in its plasma display business.

LG, the world's No 5 handset maker, is likely to enjoy a stronger second half as a recovery at its liquid crystal display (LCD) joint venture, LG.Philips LCD Co Ltd, is set to continue.

Production postponed

Honda Motor Co and Nissan Motor Co joined other Japanese carmakers in announcing a halt to production after a key parts supplier was hit by an earthquake.

Honda, Japan's second-biggest automaker, will suspend operations at its Suzuka factory today, a spokeswoman said. Nissan's Oppama and Tochigi plants, near Tokyo, will also close today.

Alitalia choice

Alitalia SpA will either be sold or go bankrupt because the government cannot invest more money in the unprofitable airline, Corriere della Sera reported.

Italy scrapped an auction for its 49.9 percent stake in the airline after all suitors dropped out. The options for a sale haven't been exhausted, though making the airline attractive to investors has been tougher than the government expected, Finance Minister Tommaso Padoa-Schioppa was cited as saying.

Agencies-Bloomberg News

(China Daily 07/20/2007 page16)