U.S. Offer Isn't Enough, G-20 Says
Trade ministers from a group of developing countries welcomed a U.S. offer to reduce farm aid but said it didn't go far enough.
"We welcome the fact that it was made, we think that it's a positive step, but there's also an agreement that it's an insufficient step," Brazilian Foreign Minister Celso Amorim said after a meeting of ministers from G-20, which is led by Brazil and India.
The World Trade Organization's 148 members are supposed to agree on an outline for a global trade deal by year-end. But progress has stalled, largely because of U.S. and European Union farm subsidies.
GDP Continues Rapid Rise
China's planning agency reported that gross domestic product rose 9.4 percent in the first nine months of the year and is forecast to rise 9.2 percent for the full year -- almost three times the growth in the United States and almost six times what is expected in Europe.
Acquisition Creates Top Nickel Producer
Inco has agreed to pay nearly $11 billion in cash and stock for Falconbridge in a deal between two of Canada's top mining companies that will form the world's largest nickel producer.
Inco is the world's second-largest producer of nickel, which is used primarily for manufacturing stainless steel and batteries. Falconbridge is one of the world's top miners and smelters of copper and nickel. The companies estimated their combined nickel production for 2005 to 735 million pounds, which is forecast to grow to one billion pounds by 2009.
Wal-Mart to Expand in Rio de Janeiro
Wal-Mart Stores said it plans to open as many as 18 stores in Rio de Janeiro in the next five years, creating 4,500 jobs. The first of them will open by June, the company said.
Wal-Mart now has 153 stores in Brazil.
Anheuser-Busch Can't Use 'Bud'
Anheuser-Busch cannot sell beer under the brand name Budweiser in Portugal, the European Court of Human Rights ruled.
Anheuser-Busch was appealing a 2001 decision by Portugal's Supreme Court, which ruled that the Czech brewer Budejovicky Budvar had the right to use the brand name under a 1986 treaty between the Czech Republic and Portugal, which protects registered designations of origin.
The two companies have been battling over Budweiser and other trade names, such as Budvar, for a century.
Compiled from news service reports.