 IN BRIEF (Page 16)
(China Daily)
Updated: 2008-07-25 07:47 Agreement struck Chipmaker Qualcomm Inc reached a new licensing agreement with Nokia Oyj, the world's biggest maker of wireless phones, ending global litigation that raised questions about the future of Qualcomm's licensing program. The 15-year agreement covers different mobile-phone standards and resolves all litigation including a Nokia complaint before the European Commission. Nokia will license all of Qualcomm's patents and won't use any of its patents against Qualcomm, the companies said in a joint statement. Bharti beats estimates Bharti Airtel Ltd, India's largest mobile-phone operator, reported a gain in first-quarter profit that beat analysts' projections after adding a record number of users in the world's second-biggest wireless-services market. Net income rose 34 percent to 20.3 billion rupees ($485 million) for the three months ended June 30, from 15.1 billion rupees a year earlier, New Delhi-based Bharti said yesterday. Profit beat the 19.4 billion rupee median estimate of seven analysts. Kingfisher climbs Kingfisher Plc, Europe's largest home-improvement retailer, said sales at its B&Q unit rose in the last 10 weeks as mild UK weather spurred purchases of garden furniture and barbeques. Sales at B&Q stores open at least a year gained 0.2 percent in the 10 weeks ended July 12, the London-based company said yesterday in a statement. That compared with an 8.1 percent drop in its first quarter. Total sales at the chain, the leader in the British home-improvement market, increased 3.7 percent. Forecast trimmed Renault SA, France's second-largest carmaker, cut its 2009 global unit sales target and plans to shrink production and jobs after a European auto-market slump hit first-half sales and soaring raw-material costs dented profitability. Renault reduced the sales target to 3 million vehicles from 3.33 million, while reiterating its operating-margin goals of 4.5 percent in 2008 and 6 percent next year. Metso dips Metso Oyj, the world's largest maker of rock crushers and paper machines, fell the most since its creation in 1999 in Helsinki trading after the Finnish company missed profit estimates and halved its sales growth target. Metso dropped as much as 17 percent. Net income increased 5.2 percent to 102 million euros, or 72 cents a share, missing analyst predictions of 109 million euros. ABB advances ABB Ltd, the world's largest builder of electricity grids, said second-quarter profit increased 34 percent as the US and China invested in power networks. Net income climbed to $975 million, or 43 cents, from $729 million, or 32 cents, a year earlier, the Zurich-based company said in a statement. Sales advanced 27 percent to $9.03 billion. Profitable quarter Wincor Nixdorf AG, the world's second-largest maker of automated teller machines, said third-quarter profit rose 19 percent on sales outside its home market. Net income in the three months through June rose to 32 million euros from 27 million euros a year earlier, the Paderborn, Germany-based company said yesterday. Output warning Codelco, the world's largest copper producer, said output may decline for a fourth year because of labor unrest and aging mines, worsening a shortfall in global supplies that had sent prices to a record. Production may drop 4.2 percent to about 1.60 million metric tons this year from 1.67 million tons in 2007, Codelco's Chief Executive Officer Jose Pablo Arellano said in Santiago, Chile. Agencies (China Daily 07/25/2008 page16) |
