IN BRIEF (Page 16)

Bridge boosts Reliance

Reliance Energy Ltd, India's second-largest utility by value, rose by most in a week after winning a bid to build a $1.5 billion bridge linking Mumbai and its suburbs on the mainland.

The company and Korean partner Hyundai Engineering & Construction Co won the bid over India's Infrastructure Leasing & Financial Services Ltd, Anil Deshmukh, Maharashtra's state minister for public works, told reporters.

CEO search ends

William Hill Plc, the British operator of more than 2,200 betting shops, named its UK head Ralph Topping as chief executive officer, ending an eight month search.

Topping, 56, will become CEO with immediate effect, the London-based bookmaker said today in a statement. He replaces David Harding, who announced plans to step down in June and left on Sept 30.

Energy firm gains

Centrica Plc, the United Kingdom's biggest energy supplier, posted a profit in the second half of 2007 after a year-earlier loss because of lower prices paid for the natural gas and electricity it sold to consumers.

Net income was 499 million pounds, compared with a loss of 95 million pounds in the year-earlier period, the Windsor, England-based utility said yesterday.

Pfleiderer rises

Pfleiderer AG, the largest supplier of wood used in paneling, laminate flooring and furniture in North America, said full-year profit rose 19 percent on lower taxes.

Profit after-tax from continuing operations advanced to 79.7 million euros from 67.2 million euros, the Neumarkt-based company said in a statement distributed on DGAP newswire yesterday.

Tiremaker's earnings

Continental AG, Europe's second-largest tiremaker, said 2007 profit rose 3.9 percent after the company took over Siemens AG's former auto-parts unit.

Net income increased to 1.02 billion euros, or 6.52 euros a share, from 981.9 million euros, or 6.44 euros, in 2006, the Hanover, Germany-based company said yesterday.

Eramet advances

Eramet SA, operator of the world's largest ferronickel plant, said full-year profit gained 82 percent on demand for nickel and manganese.

Net income advanced to 582 million euros, or 22.67 euros a share, from 319 million euros, or 12.38 euros, in 2006, the Paris-based company said yesterday.

HSBC hopeful

HSBC Holdings Plc, Europe's largest bank, is hopeful it can complete a planned takeover of Korea Exchange Bank by the April deadline, Chairman Stephen Green said.

Green's comments come amid growing doubts that HSBC can complete its $6.45 billion purchase of the South Korean bank from US buyout firm Lone Star Funds on time. Regulators have withheld final approval of the sale until legal disputes involving Lone Star are resolved.

TomTom tumbles

TomTom NV, the world's largest maker of car navigation equipment, fell the most in almost four months in Amsterdam trading after forecasting full-year sales that lagged behind analysts' estimates.

The stock lost as much as 14 percent, the biggest slide since October 31. Revenue will be 2 billion euros to 2.2 billion euros this year, up from 1.7 billion euros in 2007, Amsterdam-based TomTom said.

ChoicePoint purchase

Reed Elsevier Plc, the owner of the LexisNexis database, agreed to buy ChoicePoint Inc of the United States for $3.5 billion to add information services for the insurance industry.

Reed Elsevier will pay $50 a share in cash, 49 percent more than ChoicePoint's closing price on Wednesday in New York Stock Exchange trading, Reed Elsevier said.

Agencies

(China Daily 02/22/2008 page16)