A round-up of today's other stories in brief.
US and China fail agree textile deal
The US and China yesterday failed to strike a deal to limit Chinese textiles exports to the US, making it unlikely that any agreement will be reached before the visit to Washington next week by Hu Jintao, China's president.
But China resumed talks with the European Union aimed at resolving their acrimonious bilateral dispute over textile quotas, which has left 70-80 million unlicensed garments from China locked in storage in European ports.
Peter Mandelson, EU trade commissioner, last night resumed talks with Bo Xilai, Chinese trade minister, to persuade Beijing to share the pain of dealing with the problem.
Yesterday Mr Mandelson won agreement in principle from the 25 EU member states that there should be a speedy release of the goods into the shops.- (Financial Times Service)
Glencar close to Gold Fields deal
Exploration firm Glencar said yesterday it is in advance negotiations with fellow mining company Gold Fields regarding three licences at its Sankarani project in Mali.
A provisional agreement drawn up between the two groups allows Gold Fields to invest $2.5 million (€2 million) in the project in return for a 25 per cent right to the Mali site. The company also has the opportunity to increase its investment in the site at any time in the next three years.
Microsoft to offer internet calls
Microsoft yesterday sent a shudder through the telecoms industry when it announced plans to develop an internet telephone service, allowing calls from computers to fixed line and mobile phones and other PCs.
The software company is bolstering its expertise through the acquisition of Teleo, a small San Francisco firm that makes voice over internet protocol (VoIP) technology. Microsoft intends to integrate the technology into its systems and develop services allowing consumers to make calls from their desktop by the end of the year.
France Telecom in €3m share issue
France Telecom yesterday announced a €3 billion share issue to help fund its acquisition of Amena, the Spanish mobile operator.
The capital increase will further dilute the French state's 34.9 per cent stake in France Telecom.
France Telecom agreed in July to buy 80 per cent of Amena for €6.4 billion in order to strengthen its position in Spain.- (Financial Times Service)
MasterCard plans to go public
MasterCard, the second-biggest payment card association, is to become an independent public company in an attempt to distance its bank owners from regulatory and legal threats.
The company yesterday said it planned an initial public offering that would give outside investors 49 per cent of its equity and 83 per cent of its voting rights. It would have a new board with a majority of independent directors. - (Financial Times Service)
Ryanair cuts UK flights over tax
Ryanair cut the number of flights on one of its key UK routes after a county council imposed a £5 (€7.30) departure tax.
The Irish carrier said it was axing 12 flights a week between Newquay in Cornwall and Stansted.
It said Cornwall County Council's decision to impose the tax was "ridiculous" and that 100,000 fewer passengers a year would now fly on the route with only a daily service. - (PA)
