IN BRIEF (Page 16)

Indian growth

India's industrial production growth probably slowed in September as the highest interest rates in a decade crimped consumer demand and a strengthening currency made exports less competitive.

Production at factories, utilities and mines rose 9.2 percent from a year earlier after gaining 10.7 percent in August, according to the median forecast of 15 economists in a Bloomberg News survey.

McMahon stays on

Wesfarmers Ltd, the Australian home improvement retailer buying Coles Group Ltd, will retain Mick McMahon to run the grocer's food, liquor and convenience stores as it searches for a new head of the unit.

McMahon will serve as the unit's chief operating officer until a new managing director is announced, after which he will take on a "senior role", Perth-based Wesfarmers said in a statement yesterday.

Bidders barred

Alitalia SpA, Italy's biggest airline, barred a group led by lawyer Antonio Baldassarre from bidding for the carrier because it failed to submit information required for the sale.

"Baldassarre stated today that there would be further delays in providing the basic elements for taking part in the project," the Rome-based airline said in a statement to the Italian Exchange.

Broker declines

Interhyp AG, the German mortgage broker that cut its profit forecast two months ago, said third-quarter earnings fell 2.9 percent as home-loan demand slowed.

Net income declined to 3.4 million euros from 3.5 million euros a year earlier, the company said in an e-mailed statement yesterday. The Munich-based broker arranged 24 percent more home loans for a total of 1.31 billion euros.

Green light

Imperial Tobacco Group Plc, the maker of Davidoff cigarettes, won approval from Spain's stock market regulator to buy Altadis SA, the owner of Gauloises and Fortuna.

The Bristol, England-based company may proceed with its 12.6 billion-euro bid, Spain's securities market regulator said on its website yesterday.

Bourbon boost

Bourbon SA, owner of the world's biggest fleet of supply ships for deep-water oil exploration, said third-quarter revenue rose 35 percent as it added vessels and bulk carrier rates increased.

Revenue advanced to 200.4 million euros from a restated 148.5 million euros a year earlier that doesn't include a port towing business which was sold, Bourbon said yesterday.

EADS loss

European Aeronautic, Defence & Space Co, parent of Airbus SAS, reported a nine-month loss on the cost of delays to the A400M military transport plane.

EADS, based in Paris and Munich, had a net loss of 705 billion euros, or 88 cents a share, compared with net income of 867 million euros, or 1.08 euros, a year earlier, it said yesterday in a statement on the DBF newswire.

Fortis falls

Fortis, part of a group that bought ABN Amro Holding NV in the biggest financial-services takeover, said third-quarter profit fell, missing analysts' estimates.

Net income was 798 million euros compared with 884 million euros a year earlier, the company based in Brussels and the Dutch city of Utrecht said yesterday.

More jobs

Australia marked its longest run of jobs growth in more than 12 years in October, worsening a labor shortage that prompted the central bank to raise interest rates.

The number of people employed climbed by 12,900, the 12th consecutive increase, following a revised 8,300 gain in September, the Bureau of Statistics said yesterday in Sydney.

Bloomberg News

(China Daily 11/09/2007 page16)