IN BRIEF (Page 16)

New markets

Nestle SA wants to increase its presence in developing nations where it can find a billion new consumers, Les Echos reported, citing Chief Executive Officer Paul Bulcke.

"We estimate we can win a billion new consumers within a decade," Bulcke said, according to the newspaper.

The world's largest food company will decide what to do with its stake in L'Oreal SA when "the time is right", Bulcke was cited as saying.

Carrier rules out merger

Continental Airlines Inc said that it would not pursue a merger with another carrier right away, a surprising move after weeks of growing speculation that it would join with United Airlines to create the world's biggest airline.

Continental Chairman and Chief Executive Lawrence Kellner said in a message to employees that the Houston-based airline was better off alone than merging.

Big spender

Russia may invest as much as $25 billion from its national wealth fund in overseas equities and corporate bonds starting next year, the Financial Times reported.

Proposals on how to invest the fund should be put to parliament by the fall, the newspaper said, citing an interview with Dmitry Pankin, deputy finance minister.

Whitbread doubles

Whitbread Plc, the UK owner of Costa coffee shops, said annual profit almost doubled on higher occupancy at its Premier Inn budget hotels and a gain from selling the David Lloyd health-club chain.

Net income climbed to 545.6 million pounds, or 286.55 pence a share, in the year through February from 281.8 million pounds, or 122.47 pence, in the prior period, the Luton, England-based company said yesterday.

Agencies

(China Daily 04/29/2008 page16)