Alexa

In Brief

In Brief

Hyundai chief urges union not to strike
SEOUL, South Korea
The chief of South Korea's largest carmaker Hyundai Motor warned yesterday that frequent strikes were undermining its competitive power abroad.
Hyundai Motor president Yoon Yeo-Cheol urged workers to drop "excessive demands which have undermined competitiveness" of the world's sixth largest auto company. "Complaints from the public and clients have reached their peak due to perennial strikes," he told Yonhap news agency.
The union will vote Thursday on whether to strike in support of an 8.9 percent pay increase, an extension of the retirement age from 58 to 60 and a halt to the allocation of work to overseas plants.
'Wrong candidate'
LONDON, England
The Financial Times newspaper yesterday branded former French finance minister Dominique Strauss-Kahn the "wrong candidate" to succeed Rodrigo Rato as head of the IMF.
The influential British business daily said only those who wanted the International Monetary Fund "to be irrelevant" could applaud the European Union's decision to "foist" Strauss-Kahn on the institution. The 27-nation EU chose Strauss-Kahn as its candidate in early July.
"This is the wrong candidate, chosen in the wrong way," the FT said in its editorial. "Emerging countries no longer understand why Europeans should determine who might dictate to them in any crisis, as if their old empires still existed.
Pushing ahead
BEIJING, China
China's Lenovo said yesterday it was still hopeful to buy major European personal computer maker Packard Bell despite an acquisition by rival Acer that reportedly could foil the deal.
Earlier this month, Lenovo announced that it had signed a memorandum of understanding to buy Netherlands-based Packard Bell. However, the Shanghai Securities News said yesterday that the plan may be aborted as Taiwan's Acer announced Monday it had signed a deal to buy Gateway and would indirectly take control of Packard Bell.
Gateway said it would exercise its right of first refusal to buy Paris-based PB Holding Co., the parent company of Packard Bell, said the report. That will prevent John Hui, a major shareholder of Gateway who bought Packard Bell from NEC last year, from selling Packard Bell to Lenovo, the paper said.
Asian Chevy
KUALA LUMPUR, Malaysia
A unit of U.S. automaker General Motors Corp. tied up with Malaysian conglomerate DRB-HICOM Bhd. yesterday to explore making Chevrolet cars for Southeast Asia's booming market.
Under the pact, the companies will "explore the establishment of a local vehicle assembly program as well as a manufacturing hub for the production of Chevrolet vehicles, parts and accessories" to be sold in the 10 countries making up the Association of Southeast Asian Nations.
General Motors Asia Pacific Holdings LLC will hold a 51 percent stake and DRB-HICOM the remaining 49 percent in the joint venture, which is expected to begin operations in October.
Patent issue
CINCINNATI, Ohio
Consumer products giant Procter & Gamble Co. sued Kraft Foods Inc., charging that a new plastic container for Kraft's Maxwell House coffee brand infringes on patents for P&G's Folgers coffee container.
P&G introduced a plastic container for its Folgers coffee in 2003 that has been used to help grow the Folgers business, the company said in a statement Monday.
P&G filed a lawsuit in U.S. District Court in San Francisco that seeks to stop Kraft Foods from selling its coffee in the packaging that P&G says infringes on its patents. The lawsuit also seeks recovery of an unspecified amount in damages, P&G spokeswoman Jen Becker said.
P&G believes Maxwell House has infringed on many of the container's innovations that are covered by P&G patents, Johnson said.


Updated : 2021-04-15 08:17 GMT+08:00