Nikkei slips on US growth worry
Tokyo: The Nikkei average fell 0.38 percent on Monday, with investors reacting to weak U.S. jobs data. Investors will now take into account concerns about slower economic growth in one of the top destinations for Japanese goods.
The Nikkei had risen 1.84 per cent on Friday.
The TOPIX index was down 0.52 per cent at 1,597.83 at mid day as well.
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Chunnel blues: UK Govt. urged to resist all-French management plan
London: The British Govt. is facing increased calls from UK parliamentarians to safeguard British influence over the Channel tunnel by preventing the Eurotunnel from ditching its dual nationality and becoming a French company.

Faced with a mountain of debt, a rescue plan for the chunnel, announced last week, involves abandoning its dual Anglo-Gallic structure, originally put into place when work began on the tunnel in 1986. New plans would reconstitute the business as a French parent company with a British subsidiary.

Eurotunnel managemnt says that its present structure is wasteful and time-consuming. It points out that it is required to hold every board meeting three times - for its French arm, British arm and the "group" which the two sides jointly own. It claims it would be hard to get a "clear verdict" on its efforts to slash its 6.2bn debt if it was required to continue juggling twin companies.

The restructuring will be put to a vote of shareholders next month but is facing a challenge from bondholders, who are working on an alternative proposal.
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Japan Airlines to join global oneworld alliance
Paris: Japan Airlines (JAL) will join the global oneworld alliance from early next year, the biggest of three new airlines to join the network in the next 12 months.

Asia's biggest airline will join the alliance, whose members also include carriers such as British Airways, American Airlines and Cathay Pacific.

Hungarian airline Malev and Royal Jordanian Airlines are also set to join the group.

The three new members will increase the group's share of the global aviation market to almost 20 per cent, boosting passenger capacity by one-fifth, and extending the network's combined annual revenue by a third to $US86bn, JAL said.

Five other members of the JAL group, such as J-Air and Japan Asia Airways, will also become oneworld affiliates under the deal.
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Cathay Pacific on the verge of taking over rival Dragonair
Hong Kong: Hong Kong's main airline, Cathay Pacific Airways Ltd, is expected to announce a takeover of China-focused rival Dragonair in a deal reported to be worth US$1.3bn, sources familiar with the matter said.

The deal would make Cathay Asia's biggest carrier and provide it with profitable routes to mainland China.

According to media reports, Cathay was in advanced talks to buy out the stakes in Hong Kong-based Dragonair held by Swire Pacific and China National Aviation Co. Ltd. (CNAC) through a combination of cash and shares. The buyout could be worth HK$10 billion (US$1.3 billion), the reports said.

Cathay holds a 17.8 per cent stake in Dragonair, and its parent, Swire, has a separate 7.71 percent holding. CNAC is the largest shareholder of Dragonair, owning 43 percent, while CITIC Pacific has 28.5 percent.
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