IN BRIEF (Page 17)

China Daily | Updated: 2008-03-06 07:18

Buyback ruled out

Apple Inc has no plans to declare a dividend or buy back its stock, Chief Executive Steve Jobs told the annual meeting of shareholders, adding that iPhone sales were on track.

Jobs said he was confident that Apple would hit its 2008 sales target of 10 million iPhones, a figure which some analysts have questioned in the face of a weaker US economy, and executives said the communications device would reach Asian markets this year.

Target raised

Dutch mail company TNT NV increased its cost savings target to 395 million euros due to changes in its retail network, the firm said yesterday.

TNT, which had originally aimed for savings of 370 million euros between 2007-2015, said it will save an extra 25 million euros from ending its joint venture with Postbank.

Up in the air

Fast-growing Toyota Motor Corp, widely expected to become the world's top-selling automaker this year, said yesterday it is considering branching out into the aircraft industry.

Toyota may put up funds for a company to be set up by Mitsubishi Heavy Industries Ltd to design a next-generation, fuel-efficient passenger jet, Toyota spokeswoman Kayo Doi said.

Agencies

(China Daily 03/06/2008 page17)