IN BRIEF (Page 16)

Dow price hike

Dow Chemical Co, the largest US chemical maker, said it will raise prices on all of its products by as much as 20 percent on June 1 because of rising costs for energy, raw materials and transportation.

The increases are necessary after a 42 percent jump in first-quarter spending on raw materials and energy, Chief Executive Officer Andrew Liveris said yesterday.

Fewer orders

Airbus SAS, the world's largest planemaker, said orders for its A380 superjumbo may be one-third lower than previously predicted this year as higher fuel costs and an economic slowdown dent demand for travel.

Airbus may receive about 20 orders for the 525-seat jetliner in 2008, John Leahy, chief operating officer and senior salesman, said yesterday at the Berlin Air Show. The company had forecast 30 orders as recently as Feb 20.

Hybrid battery plans

Volkswagen AG, Europe's largest carmaker, will jointly develop a lithium-ion battery system with Sanyo Electric Co for use in hybrid cars as record oil prices spur demand for fuel-efficient vehicles.

Sanyo will spend a total of 80 billion yen ($767 million) by 2015 to make the batteries, including opening a new factory in 2010, the company said.

Burberry gains

Burberry Group Plc, the 152-year-old British luxury label known for its trademark plaid, said annual profit increased 23 percent after shoppers bought $2,195 Warrior bags and new stores opened across the globe.

Net income climbed to 135.2 million pounds in the year through March from 110.2 million pounds in the prior period, the company said.

Sale boosts BAA

BAA Ltd, the world's biggest airport operator, said first-quarter profit jumped after the owner of London Heathrow sold its European chain of duty-free shops.

Net income rose to 482 million pounds from 73 million pounds a year earlier, London-based BAA, a unit of Spanish builder Grupo Ferrovial SA, said yesterday.

Danisco jumps

Danisco A/S, Scandinavia's biggest food-ingredient maker, rose the most in more than two months in Copenhagen trading on speculation the company will sell rather than spin off its sugar unit.

Danisco gained as much as 6.6 percent after Borsen reported that the company allowed Germany's Nordzucker AG and France's Tereos to look at its books. It may sell the unit before the summer break, the newspaper said.

Thus up on takeover talk

Cable & Wireless Plc, the United Kingdom's second-biggest phone company, said it approached the board of Scotland's Thus Group Plc about a potential takeover bid. Thus shares rose as much as 23 percent.

"This announcement does not amount to a firm intention to make an offer and accordingly there can be no certainty that an offer will be made," London-based Cable & Wireless said.

'Difficult' year

Italcementi SpA, Italy's largest cement maker, expects 2008 to be a "difficult" year as its business in mature markets slows, Chief Operating Officer Rodolfo Danielli said.

This year "won't be better than 2007", Danielli said yesterday. "It will be a difficult year because of the slowdown in mature markets such as Italy, Spain and the US."

More mergers?

An InBev NV purchase of US brewer Anheuser-Busch Cos may trigger more mergers among beer producers seeking to match the combined company's ability to boost earnings through wider distribution.

SABMiller Plc and Molson Coors Brewing Co might try merging, while Mexico-based Fomento Economico Mexicano SAB or Turkey's largest brewer may be takeover targets, analysts and investors said.

Agencies

(China Daily 05/29/2008 page16)