 IN BRIEF (Page 16)
(China Daily)
Updated: 2008-07-01 08:02 Paper sales drop Trinity Mirror Plc, publisher of the United Kingdom's Daily Mirror newspaper, said sales in the 26 weeks to June 29 dropped 1.5 percent as companies crimped advertising spending amid an economic slowdown. Advertising market conditions have deteriorated, the London-based publisher said yesterday. "We have seen a marked year-on-year decline in advertising revenues across our businesses during May and June and this is expected to continue for the remainder of the year." Pastures new Yara International ASA, the world's largest fertilizer maker, said Chief Executive Officer Thorleif Enger will retire. Enger will be replaced by Jorgen Ole Haslestad in September, the Oslo-based company said yesterday. Haslestad, 57, is currently chief executive officer of the Industry Solutions division at Siemens AG, where he has worked for 14 years, the statement said. Repower rises Repower Systems AG, a German wind turbine builder, said profit in the three months to March 31 surged as it installed more than twice as many turbines as in the same period last year. Net income was 1.4 million euros, compared with 15,000 euros in the first quarter of 2007, according to a statement the Hamburg-based company distributed by e-mail yesterday. Revenue rose 20 percent to 150.2 million euros. Taylor talks Taylor Wimpey Plc, the United Kingdom's largest homebuilder, is in talks with investors to raise money as it writes down the value of its land and renegotiates banking covenants in response to a "sustained weak" housing market. "We have instigated discussions with shareholders and other institutions regarding raising additional financing, which would most likely be via a placing and open offer," the London-based builder said yesterday. Airline dips Air Berlin Plc, Europe's third- biggest discount carrier, fell to the lowest since the company's May 2006 initial public offering on concern that rising oil prices threaten the airline's survival. Air Berlin dropped as much as 55 cents, or 13 percent, to 3.53 euros and was down 9.1 percent as of 12:06 pm in Frankfurt trading. The stock has declined 70 percent this year. Agencies (China Daily 07/01/2008 page16) |
