Sony in battery recall for Vaio laptops
Tokyo: Sony is recalling 90,000 batteries used in its Vaio computers, the first time in a two-month global recall that it's replacing power packs in its own laptops.

About 60,000 of the power packs will be replaced in Japan, and the rest in China. Kyodo News reported Sony may recall an additional 250,000 units globally.

Sony earlier said it may revise its 130bn yen ($1.1bn) annual profit forecast as it recalls more than 8m batteries world-wide on concern some cells overheat and become fire hazards. The company has so far only said it's spending between 20bn yen and 30bn yen to replace batteries in Dell and Apple laptops.
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US crude oil drops below $59
Mumbai: The crude oil futures for November delivery tumbled 1.7% ($1.01) to settle at $58.93 per barrel on the NYMEX. OPEC is expected to meet today to decide on a possible cut in production.
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US industrial production slightly down in Sept
Washington: US Industrial production fell more than expected month as auto, furniture and electronic equipment makers scaled back and cooler weather reduced demand for electricity.

The 0.6 per cent drop in production for September was the biggest in the year and followed an unchanged reading a month earlier, the Federal Reserve said.

Capacity utilisation, which measures the proportion of plants in use, fell to 81.9 pc the lowest since May, from 82.5 pc a month earlier.
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Top management exodus at Sapient
New York: Business and technology services consultant Sapient Corp's CEO, chief financial officer and co-chairman have stepped down amid an internal review of its stock-based compensation practices.

Sapient also said it had found errors relating to stock option grants, and that it would restate past financial results. It said financial statements and all earnings relating to periods beginning in January 1997 should not be relied upon.

The company's shares closed down 13.1 per cent on the Nasdaq on Tuesday.

Sapient is part of a growing list of more than 100 companies that have faced investigations into how they award stock option grants.

Sapient shares closed down 76 cents at $5.06 and was biggest loser on the Nasdaq.
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