IN BRIEF (Page 16)

Complaint filed

Samsung Electronics Co said yesterday it filed a complaint with US authorities over alleged unfair trade practices by Japanese rival Sharp Corp, fueling an intensifying legal battle over flat panel technology.

Samsung said in a statement that it filed the complaint with the United States International Trade Commission last Friday, claiming that Sharp and two US subsidiaries imported and sold liquid crystal display products that infringe on four of Samsung's US patents.

Stock sale

Student lender Sallie Mae said it would sell $2.5 billion in stock and use most of the proceeds to settle contracts requiring the company to buy back stock at prices above current levels.

The Reston, Virginia, company, officially known as SLM Corp, last week saw its shares sink to a five year low after the company's chief executive failed to provide enough details about the company's plans in the wake of a failed $25 billion buyout deal.

Shipments rise

Japan's shipments of construction equipment rose 10.4 percent in November from a year earlier as increased spending on building and mining projects drove demand for excavators and tractors at Komatsu Ltd and its rivals.

Shipments rose to 219 billion yen ($2 billion), the 62nd straight month of increase, the Tokyo-based Japan Construction Equipment Manufacturers Association said yesterday.

Likely loan

Kia Motors Corp, an affiliate of South Korea's biggest carmaker, plans to borrow 200 million euros to strengthen its sales units in Europe.

The Seoul-based automaker said in an e-mailed statement yesterday it may use its European vehicle inventories as underlying assets to secure the funds, confirming an earlier report by the Seoul Economic Daily.

Stake boosted

Japan Tobacco Inc, the nation's biggest cigarette company, said it spent 102 billion yen ($893 million) to boost its stake in frozen-food maker Katokichi Co to 93.9 percent.

Katokichi stockholders will receive 710 yen a share, a 20 percent premium to the price when the offer was announced on November 22. Once it gains full ownership, Japan Tobacco plans to sell a 49 percent stake in Katokichi to instant-noodle maker Nissin Food Products Co and the three companies will combine their frozen-food units.

'No return'

The British pound won't return to $2 next year because of a weakening UK economy, the Daily Telegraph reported, citing a number of the City's biggest banks.

The pound's decline is just beginning and HSBC Holdings Plc predicts the currency will drop to $1.80 by the end of 2008, the newspaper said. Experts are divided on the speed at which the pound will lose value, which will depend on the monetary policy by the Bank of England, the Daily Telegraph said.

Plane purchase

Air Astana, a venture between the Kazakh government and BAE Systems Plc, agreed to buy nine Airbus SAS and Boeing Co jetliners to help meet surging travel demand in the Central Asian nation.

The six Airbus A320s and three Boeing 787-8s have a combined catalog price of $950 million, Air Astana said yesterday. Deliveries will start in 2012, the carrier said.

Record sales

John Lewis Partnership Plc, the United Kingdom's largest department store chain, said weekly sales rose to a record as it cut prices to lure last-minute Christmas shoppers.

Sales climbed 6.1 percent in the last full week before Christmas from the same period last year, London-based John Lewis said yesterday. Revenue surpassed 100 million pounds for the second-straight week.

Agencies-Bloomberg News

(China Daily 12/28/2007 page16)