Nikon dumps film cameras for digital ware
Beijing: Japanese camera maker, Nikon, announced Thursday it will end production of all but two film cameras and concentrate on digital models. With the announcement Nikon joins its Tokyo-based rival Canon in jettisoning much of the film-based camera business.

In a statement, Nikon executives said the film camera market is shrinking and is being replaced by higher demand for digital cameras and products that offer advanced features in that market. "High-performance digital SLR [single lens reflex] cameras are performing well as users shift from film-based SLR cameras or upgrade from compact digital cameras to digital SLR cameras," said a statement from the company.

Nikon, a maker of digital cameras and steppers - or photolithography machines for integrated circuits, will let the stock run out on six film camera models.

The F6, the company's flagship film camera, and the FM10, an entry-level film camera, will remain in the lineup, but the company will not develop new versions.

A number of other camera makers including Kodak have also deemphasized their film camera businesses in favor of their digital products.
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California's solar power gambit takes off with US$2.9bn
Sacramento, USA: A California State public body on Thursday approved US$2.9bn in solar incentives to encourage consumers to switch to sun power, in the process creating the largest solar-incentive program in the United States.

The California Solar Initiative, which takes the place of the US$2.8bn Million Solar Roofs bill that failed to pass the state Assembly during September, is expected to install 3,000 megawatts of solar power in the state. The money will be used for rebates for solar photovoltaics, solar water heating, and solar heating and cooling systems over 10 years, with 10 per cent of the money slated for low-income customers and affordable-housing projects.

The U.S. solar market is much smaller than the market in countries like Germany and Japan, but California is by far the leading state, ranking as the fifth-largest solar market in the world.

A global shortage of polysilicon, the grade of silicon used for crystalline solar photovoltaics (PV), has kept solar companies from producing enough PV to meet the skyrocketing demand driven by high energy prices and heavy government subsidies in Germany and other countries. Analysts said that to compete on a world scale, California needs production-based incentives like those, which offer high prices for solar power.
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Boston Scientific ups the ante on Guidant bid
San Francisco, USA: Boston Scientific raised the ante in the bidding war for Guidant Corp. late Thursday offering US$73 a share, coupled with an acceptance deadline of Friday afternoon. This latest bid marks another twist in the long-running take over battle for the troubled medical device maker.

In a statement Thursday night, Boston Scientific said it is now prepared to pay US$73 a share, or US$24.34bn, which includes US$36.50 in cash and US$36.50 in Boston Scientific stock.

Boston Scientific also presented an ultimatum on the deal, stating it must be accepted by 4 p.m. Eastern Friday. If Guidant's board deems the Natick, Mass.-based device maker's offer superior to a rival bid by Johnson & Johnson by that deadline, the offer will be good until the close of business Jan. 24, when rival suitors Johnson & Johnson's are due to hold an analyst's meet.

In a move to deflect concerns that its deal may not pass muster with anti-trust regulators, Boston Scientific also said it will divest 'all overlapping assets.' In addition, if the closing does not take place by March 31, the $73 a share stock price will be increased by $0.012 in cash for each day between April 1 and the date of the closing, Boston Scientific said.

The offer comes just one day after Guidant said it had decided to take Johnson & Johnson up on its recently sweetened cash-and-stock offer worth US$23.2bn. Guidant's shareholders are set to vote on the revised merger agreement on Jan. 31. Johnson & Johnson has already secured all regulatory clearances and satisfied other conditions on closing the deal.

Guidant makes coronary stents, defibrillators and pacemakers.
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