IN BRIEF (Page 16)

New model

Renault SA, France's second-largest carmaker, and its affiliate Nissan Motor Co said they will build a car in India with partner Bajaj Auto.

The car will have a wholesale price of $2,500 as Renault and Nissan seek to expand sales in the world's second fastest-growing major economy.

Video player unveiled

Microsoft Corp, seeking more revenue from Internet advertising, introduced software that allows users to exchange messages while watching online videos.

Messenger TV combines the Windows Live instant-messaging program with video software, Microsoft said yesterday. Users will be able to watch and share clips from companies such as Viacom Inc's MTV Networks and Sony BMG.

Konica leaps

Konica Minolta Holdings Inc, the world's No 2 maker of film used in liquid-crystal displays, surged the most in seven years in Tokyo trading after the company said profit will climb as rivals forecast slower growth.

Konica Minolta jumped 12 percent to close at 1,672 yen on the Tokyo Stock Exchange, the biggest gain since March 21, 2001.

Westpac offer

Australia's fourth-largest bank, Westpac, said yesterday it was discussing a merger with fifth-ranked St. George which could lead to the creation of the country's biggest bank.

Westpac Bank Corp Ltd said it wants to make an all-scrip bid for St. George Bank Ltd to form Australia's leading financial services company, which would have a market capitalization of A$64 billion ($60 billion).

Possible price hikes

Centrica Plc, Britain's biggest energy supplier, may raise natural gas and power prices for households after saying "stubbornly high" fuel costs will cut first-half profit from last year's level.

"A further retail price increase across the industry looks inevitable" unless wholesale rates drop, Chief Executive Officer Sam Laidlaw said yesterday.

Endesa climbs

Endesa SA, a unit of Enel SpA, said first-quarter profit rose 4.6 percent as higher power prices in Spain more than compensated for lower output in Latin America and higher emission permit costs.

Net income was 662 million euros, compared with 633 million euros a year earlier, Endesa, Spain's largest power producer, said.

Iraqi contract

Nokia Siemens Networks, the world's second-biggest maker of wireless networks, won a $150 million contract to expand a wireless network in Iraq.

Nokia Siemens signed the contract with Zain, Ben Hunt, spokesman at Espoo, Finland-based Nokia Siemens said yesterday. Zain is the Kuwaiti telephone company formerly known as Mobile Telecommunications Co.

Hermes rises

Hermes International SCA, the French maker of Birkin handbags, rose the most since August in Paris trading on speculation that investors who sold borrowed stock with the aim of buying it back for less may be closing their positions.

Paris-based Hermes, which reported a 13 percent increase in first-quarter revenue last week, climbed as much as 13 percent in the French capital, the biggest percentage gain since Aug 8 last year.

Plant delay

A senior Toyota executive said yesterday that plans for a new auto assembly plant in Mississippi are being delayed by the credit crisis in the US and worries about American auto sales.

The vehicle assembly plant being built in Blue Springs, near Tupelo, Mississippi, was initially to be up and running by late 2009 or early 2010, said Toyota Motor Corp Executive Vice President Mitsuo Kinoshita.

Agencies

(China Daily 05/13/2008 page16)