JAPANSanyo Investigated by Securities AuthoritiesSanyo Electric said it was fully cooperating with an investigation by securities authorities into a report that it may have falsified its fiscal 2003 earnings.
Ryo Hagiwara, a spokesman for the electronics maker, said an investigation was underway but declined to confirm a report in Japanese newspaper Asahi Shimbun that Sanyo may have falsified its earnings. He would not elaborate.
INDIAMorgan Stanley, Partner To Retool BusinessMorgan Stanley said it is ending its eight-year-old partnership with an Indian company in an effort to fully integrate businesses in the lucrative Indian market with its global operations.
Morgan Stanley said it had agreed to pay $445 million to J.M. Financial to buy J.M. Financial's 49 percent stake in their brokerage joint venture, J.M. Morgan Stanley Securities, which was set up in 1999.
Morgan Stanley said its Indian partner, in return, had agreed to buy Morgan Stanley's 49 percent stake in an investment banking venture, J.M. Morgan Stanley Ltd., for about $20 million.
AEROSPACEAeroflot Official Says Boeing Deal Is on HoldTalks on a multibillion-dollar deal between Russian state carrier Aeroflot and Boeing are on hold, and frosty relations between Russia and the United States might be to blame, a Russian airline official said.
Aeroflot management last year asked the government -- the company's controlling shareholder -- to approve a deal to upgrade its long-range fleet by buying 22 Boeing 787s and an equal number of Airbus A350s. Chief executive Valery Okulov said later that no permission had been received and that a deadline for the deal had been missed, though a Boeing spokeswoman said talks were continuing.
EADS Wins a Contract For 3 Refueling TankersEuropean Aeronautic Defence and Space, parent of plane maker Airbus, won a United Arab Emirates contract for three aerial-refueling tankers, topping competitor Boeing. Deliveries of the three tankers will begin in 2011, the Paris- and Munich-based company said in a statement.
Nestle reported a 14 percent increase in 2006 profit after it increased prices and restructured some parts of the business in an attempt to focus on health and nutrition. The Swiss company, which reports earnings only for the full year and half year, said profit rose to $7.4 billion in 2006. Revenue in 2006 was $79.5 billion, up 8 percent.