IN BRIEF (Page 17)

Pipeline probe

Gaz de France SA, operator of Europe's largest natural-gas network, faces a probe by European Union regulators into whether it harmed competition by restricting access to its pipelines.

The European Commission, the EU's antitrust regulator, said it will study whether Gaz de France has restricted capacity on its network and failed to invest in pipeline capacity to prevent more competition.

Split mulled

Cable & Wireless Plc, the United Kingdom's second-biggest phone company, is considering splitting the company or selling assets after the stock price slumped.

"We will look at all of the options," Finance Director Tony Rice told reporters on a conference call yesterday. The company may break itself up, sell some businesses or borrow money to return capital to shareholders, he said.

Firm sheds light on plan

Koito Manufacturing Co, the maker of headlamps for Lexus-brand cars, will design lights specifically for ultra-low cost cars as it tries to win more business from India's Tata Motors Ltd and Nissan Motor Co.

Koito, the world's biggest maker of headlamps, is in the final stages of creating a simpler light that uses half as many parts as its more expensive models, said President Masahiro Ohtake.

Lender rises

Britain's Nationwide saw profits rise 17 percent in the last financial year but said lending volumes almost halved as the credit crunch forced the country's largest building society to pull back.

Nationwide said yesterday its underlying pretax profit rose to 781 million pounds for the year to April 4, from 669 million the previous year.

Shareholders cash in

De La Rue Plc, the world's largest non-government banknote printer, said yesterday it plans to return more cash to shareholders as it reported a 21 percent rise in underlying annual profit.

Announcing the results of a strategic review, the firm said it intends to increase its dividend, return 160 million pounds through a special payout and may sell Cash Systems, one of its two businesses.

Agencies

(China Daily 05/23/2008 page17)