Weekly News

Sony Ericsson Q3 lags forecasts, sticks to outlook

Mobile phone maker Sony Ericsson reported a third-quarter pretax profit

of 62 million euros ($87.2 million) on Friday, below market

expectations, and repeated it saw only slight growth in the global handset

market this year.

The result compared with a mean forecast in a Reuters poll for a 72 million

euro pretax profit for firm, owned by Ericsson and Sony Corp.

Sony Ericsson posted third-quarter sales of 1.6 billion euros against a

forecast for sales of 1.8 billion and shipped 10.4 million units, down from

11 million in the April-June period.

Honda recalls Brazil compact cars for pedal woes

One accident has been reported related to the defect, but no one was

injured, Honda Motor Co. said.

The problem cars were made in Brazil from May 2008 and October 2010

and sold only in Brazil. A total of 126,774 are being recalled.

Dust particles may get inside the accelerator pedal's sensor, causing the

pedal in some cases to get stuck and the car is unable to stop, according to

Tokyo-based manufacturer of the Insight hybrid and Odyssey minivan.

The problem is fixed by placing a cover to prevent particles from getting

in the pedal, Honda said.

Inflation moves up to 8.62 pc in September

Wholesale price inflation moved up to 8.62 per cent in September, from 8.51

per cent in the previous month, because of rise in prices of certain food and

non-food items.

The inflation was at 8.51 per cent in August. For July, the figure has been

revised upwards to 10.31 per cent from the provisional number of 9.97 per

cent.

This is the second consecutive month when the overall inflation has been in

the single digit. It had remained over 10 per cent for five months till July.

During the month, fuel and power prices went up by 11.06 per cent, while

manufactured goods became expensive by 4.59 per cent on an annual basis.

Sensex dips after five-week rally

Mumbai, Oct 9 (IANS) The benchmark index for Indian stock markets fell for

the first time in five weeks with domestic investors booking profit.

The Bombay Stock Exchange's 30-share sensitive index (Sensex) dipped 0.95

percent or 194.78 points to end the week at 20,250.26 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty slipped

0.65 percent during the week to close Friday at 6,103.45 points.

Overseas funds invested $1.98 billion during the week ending Friday, according

to data available with the Securities and Exchange Board of India (SEBI). For

the month, funds from foreign institutional investors have already crossed the

$3 billion-mark.