IN BRIEF (Page 16)

More beer

Global brewing giant SABMiller Plc said yesterday its third-quarter worldwide underlying beer volumes rose 4 percent and added its financial performance was in line with its own expectations.

SABMiller, the world's second biggest brewer and maker of Miller Lite, Peroni and Castle, added its underlying beer volumes for its financial year to date, or the nine months ending December 2007, increased by 9 percent.

Jobs boost

Employment in Australia recorded another solid rise in December while the jobless rate fell by more than expected, underlining a domestic case for a rise in interest rates, even as a troubled global outlook argued against one.

Net new employment increased by 20,100 in December, in line with forecasts of a 20,000 gain and a robust result after November's hefty 47,500 rise.

Exports down

Singapore's non-oil exports unexpectedly fell in December for the fourth straight month, dropping by 3.8 percent after seasonal adjustments from November, data showed yesterday.

December's fall compared with market expectations for a 4.7 percent rise, and followed a 6 percent decline in November due to weak electronics and drugs shipments.

Bid snubbed

Allegiance Mining Ltd has rejected a takeover bid of up to $654 million from fellow Australian miner Zinifex Ltd, saying the offer was inadequate.

Allegiance is one of a number of new mining companies in Australia catching the eye of established miners looking to acquire more assets to better ride the boom in raw materials.

Offer extended

Swiss drugmaker Roche Holding AG said on Wednesday it has extended its offer to acquire Ventana Medical Systems Inc by two months to March 14, the fifth extension in Roche's pursuit of the US cancer diagnostics company.

Ventana has repeatedly rebuffed Roche's acquisition attempts, calling the $3 billion offer grossly inadequate. The previous tender offer extension was scheduled to expire yesterday.

Supermarket sale

British convenience store chain Somerfield has put itself up for sale and could change hands for as much as 2.5 billion pounds in an auction being run by Citigroup, newspapers reported yesterday.

The Financial Times said the consortium which bought Somerfield for 1.8 billion pounds two years ago had decided to sell the business.

Parker gets post

Lehman Brothers Holdings Inc said it had named Paul Parker global co-head of mergers and acquisitions.

Parker, formerly US head of mergers and acquisitions, joins Mark Shafir, who has run mergers and acquisitions at Lehman since 2003. Shafir was also named chairman of global mergers and acquisitions.

McDonald's plans

McDonald's Corp's chief financial officer reiterated the company's forecast for capital spending of about $2 billion in 2008, split between new restaurants and renovation of existing ones.

Speaking at a conference on Wednesday hosted by Cowen and Co, the restaurant operator's CFO, Pete Bensen, said McDonald's plans to "reimage" about 1,500 restaurants and open about 1,000 new ones.

Dealer review

Ford Motor Co said on Wednesday that it is planning to review its vast dealer network in North America again and slash its spending on building vehicle prototypes in half over three years.

Ford, in materials for a presentation to analysts in Detroit, also said it plans to decentralize its North American marketing and sales spending.

Agencies

(China Daily 01/18/2008 page16)