To be precise ; We're not here to run a Mickey Mouse business. We're looking at substantial revenues from India in hundreds of millions rather than tens of millions of pounds

We're not here to run a Mickey Mouse business. We're looking atsubstantial revenues from India in hundreds of millions rather thantens of millions of pounds Stuart Rose, CEO, Marks & Spencer, inThe Economic Times

When millions of people are going hungry, it's a crime againsthumanity that food should be diverted to biofuels P. Chidambaram,Finance Minister, in Mint

We get better than average talent in India. People join us foradventure, not for jobs William D. Green, Chairman and CEO,Accenture, in Business Standard

This is a difficult business environment... there are no easysolutions here, no silver bullets Gary Crittenden, CFO, Citigroup,on the bank's …

The Organization of Industrial Research as a Network Activity: Agricultural Research at Philips in the 1930s

Business historians have shown the importance of industrial research in the process of innovation. Most have focused on the industrial research departments themselves. Less attention has been paid to the position of these departments within research networks outside the firm. This article explores the story of networking at the Dutch company Philips & Co. during the interwar period. Gilles Holst, director of Philips's Research Department at the time, became involved in an agricultural research network that comprised growers, university scientists, and the Dutch government. These networks were essential for Philips's success and provided an opportunity for the company's researchers to …

NASA rover low on power from Martian dust storm

NASA's Spirit rover, which is nearing its fifth year on Mars, is struggling to survive after a dust storm sapped its power, mission scientists said Tuesday.

The solar-powered Spirit produced only 89 watt-hours of energy last weekend, half the normal amount it needs to function. The culprit was a dust storm that moved over Spirit's site near the Martian equatorial plains, blocking sunshine from reaching its solar panels.

To prevent Spirit from depleting its batteries, ground controllers commanded the rover to turn off heaters that warm various instruments. Engineers also instructed the spacecraft to cease communications with Earth until Thursday.

…

Why light-emitting diodes are replacing light bulbs

If a time traveler from a hundred years ago were to visit a hometoday, much of the technology would be completely alien. Thetelevision, cordless phone and computer would probably leave himflabbergasted.

But on seeing a light bulb, he might say, "Ah! Here's something Irecognize. A few of those grace my home, too."

If the visitor returned in 15 years, Thomas Edison's bright ideamight be missing. The likely replacement: light-emitting diodes, orLEDs.

LED lamps were unthinkable until the technology cleared a majorhurdle just a dozen years ago. Since then, LEDs have evolved quickly,and are being adapted for many uses, including pool illumination andreading …

McDonald's same-store sales rise 8.5 pct in August

Overseas consumers spent more at McDonald's Corp. in August, leading the No. 1 hamburger chain to surprise investors by posting a big rise in global same-store sales on Tuesday.

The chain said its worldwide same-store sales, or sales at locations open at least a year, jumped 8.5 percent during the month.

Same-store sales are a key indicator of restaurant performance since they measure growth at existing locations rather than newly opened ones.

The increase follows a rise in global same-store sales of 8 percent in July and compares to a boost of 8.1 percent in August last year.

Analysts were largely expecting a lower increase, with U.S. consumers cutting back on spending, pockets of economic weakness appearing in some overseas markets and the dollar strengthening against currencies abroad.

"It's a real strong performance," said Morningstar analyst John Owens. "It's impressive."

Same-store sales grew in every region. In the U.S., the chain said they rose 4.5 percent, driven by the company's breakfast menu, a promotion tied to the Olympics for the Southern Style Chicken sandwich and biscuit, and "everyday affordability" with a focus on beverages. In August, McDonald's priced its Sweet Tea at $1 nationwide.

The rise in U.S. same-store sales, though, fell short of the 6.7 percent jump in July and the 7.4 percent rise the company recorded last August.

Most restaurant chains are seeing slower sales this year as consumers cut back on discretionary spending due to high gas prices, tight credit and the weak housing market. McDonald's _ with its dollar menu and fast service _ has fared better than most, but the chain has said it is not immune to the effects of the economic slowdown.

Still, the U.S. bump either met or beat the expectations of most Wall Street analysts.

Owens said the chain served more customers during the month and also may have benefited from price increases made during the last quarter.

The big surprise was the strong performance of the chain's overseas locations.

In Europe, where the economy is also slowing down in some areas, same-store sales climbed 11.6 percent. Performance was particularly strong in the U.K., France and Germany, McDonald's added. Same-store sales jumped 10 percent in the Asia-Pacific, Middle East and Africa division, helped by promotions tied to the Olympics in Beijing.

Most analysts had expected same-store sales overseas to rise by single-digit percentages.

Systemwide sales, which includes franchisees, rose 14 percent during the month worldwide and climbed about 5 percent in the U.S.

Several analysts, including Stifel Nicolaus' Steve West, raised their estimates for profit in the third quarter and full year based on the strong monthly sales.

"McDonald's solid results continue to have us, 'Lovin' It'," West said in a note to investors.

Buckingham Research analyst Mitchell J. Speiser, meanwhile, said in an analyst note that he expects the company to raise its dividend by at least 20 percent. Speiser also raised his price target by $2, saying there's "lots to look forward to in 2009," including the national rollout of espresso coffee beverages and an Angus burger sandwich in the U.S.

Shares of McDonald's rose 77 cents, or 1.2 percent, to $63.19.

ZED, PAUL (Saint John)

B. Dec. 31, 1956 in Toronto, Ont. A barrister and solicitor, lawyer, professor. Political Career: Elected to the H. of C. g.e. 1993. Re-Elected 2004. Parl. Sec. to the Leader of the Gov't in the H. of C., 1996-1997. Party: Lib. Address: Leg. Office: House of Commons, Ottawa, ON., K1A 0A6, (613)947-2700, Fax: (613)947-4574 Riding office: 90 King St., Saint John, N.B., E2L 1G4.

ZED, PAUL (Saint John) N� le 31 d�c. 1956 � Toronto, Ont. Avocat, professeur. Carri�re politique: �lu pour la premi�re fois � la C. des c. �.g. 1993. R��lu �.g. 2004. Sec. parl. du Leader du gouvernement � la C. des c., 1996-1997. Parti pol.: Lib. Adresse: Bureau L�g.: Chambre des communes, Ottawa, ON., K1A 0A6, (613)947-2700, Fax: (613)947-4574 Bureau Circonscription: 90, rue King, Saint John, N.-B., E2L 1G4.

Financial Firm Cuts Its Policy Bonuses

Bristol-based financial services company Clerical Medical hasannounced it is cutting bonuses on its withprofits policies.

The group, which also has a customer service centre in Clevedon,said regular bonuses on life policies would be reduced to three percent from four per cent, while pensions would be cut to 3.5 per centfrom 4.5 per cent.

Final bonuses have also been reduced, although the group said theamount varied according to the type of policy, how long it had beenheld for and how much was in it.

The move means someone who had paid GBP50 a month into a 25-yearendowment policy will see the maturity value of their policy fall bynearly 10 per cent to GBP68,142 from GBP75,595 before yesterday'sannouncement.

The final value of a pension into which someone had paid GBP100 amonth for 10 years will be GBP14,956 - down from GBP16,493.

Adrian Saunders, Clerical Medical Investment Group actuary, said:"The past three years have seen severe investment conditions and thereduction in bonus rates reflects this. However the spread ofinvestments in our with-profit fund means that policies have not beenfully exposed to stock market fluctuations.

"We have taken a prudent approach to the balance of what we payout on maturing policies and what we may pay in the future and weneed a sustained stock market recovery to maintain payouts at currentlevels.

"With-profits still has an important part to play in theinvestment mix of many of our customers and we remain committed tothis market." With-profits policies are designed to smooth out theups and downs of the stockmarket over the life of the policy, but thestock market has fallen so much in recent years that it is now havingan impact on many companies' policies, including Bristol employerRoyal & SunAlliance, which also cut rates this week.