WTO talks fail
Mumbai: The Geneva round of talks of the World Trade Organisation (WTO) has failed and further negotiations have been suspended.

Developing countries said the onus was on developed countries to break the deadlock and blamed the US for refusing to make substantial cuts in farm subsidies. US officials blamed other trading partners for the failure to bridge differences on another contentious issue of import duties on agricultural tariffs.

The meeting was attended by ministers from India, Australia, Brazil, European Union, Japan and the US attended the meeting called by WTO chief Pascal Lamy.

Trade negotiations are stuck on the two most contentious issues of farm subsidies and industrial tariffs due to adamant stance adopted by six key trading nations.
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AMD to buy ATI for $5.4bn
New York: Advanced Micro Devices Inc, the second largest chip maker in the US said it would acquire graphics chip maker ATI Technologies Inc. for $5.4 billion in cash and stock to expand its product mix and grow market share.

According to the terms of the deal AMD will acquire all of the outstanding common shares of ATI for $4.2 billion in cash and 57 million shares of AMD common stock, based on the number of shares of ATI common stock outstanding on July 21. AMD would pay $20.47 per share for each share of ATI marking a 24 per cent premium over ATI's closing stock price of $16.56 on Nasdaq.

The consideration for each outstanding share of ATI is comprised of $16.40 of cash and 0.2229 shares of AMD common stock, the companies said.

In addition to making graphics chips, ATI also supplies chipsets -- the cluster of secondary chips and interfaces that surround a computer's processor -- for AMD and Intel products.
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