Vodafone has agreed to buy Spain's largest cable operator Ono for 7.2 billion euros ($10.03 billion), in the latest move by the British group to acquire fixed-line assets to rebuild its European operations. Vodafone said on Monday it expected to achieve cost and capital expenditure savings of approximately 240 million euros, before integration costs, by the fourth full year after completion. The deal for the private equity-owned group is Vodafone's third purchase of a European fixed-broadband asset in two years as the company seeks to improve its networks and shore up its European businesses after they were hit by fierce competition, the recession and regulatory cuts. Vodafone has launched a program to invest in its networks, and acquire assets where necessary, after selling its U.S. arm for $130 billion last year.
Toyota said Monday it has suspended production at its two Indian auto assembly plants in response to threats against management and "deliberate" assembly-line stoppages, as efforts to hammer out a labour deal failed. The world's biggest automaker said the move will see the lock-out of about 6,400 employees at the factories in southern India. "In the meantime, under the instigation of the union, certain sections of the employees have resorted to deliberate stoppages of the production line, abuse and threatening of supervisors thereby continuously disrupting business for the past 25 days," Toyota said in a statement. A Tokyo-based company spokesman said Toyota hoped to restart production quickly.
By Tim Hepher and Jane Wardell KUALA LUMPUR/SYDNEY (Reuters) - Australia will lead a search of the remote southern Indian Ocean for a missing Malaysian jet liner, its prime minister said on Monday, amid mounting evidence the plane's disappearance was a meticulously planned act of sabotage or hijacking. No trace of Malaysia Airlines Flight MH370 has been found since it vanished on March 8 with 239 people aboard. Investigators are increasingly convinced it was diverted perhaps thousands of miles off course by someone with deep knowledge of the Boeing 777-200ER and commercial navigation. But police and a multi-national investigation team may never know for sure what happened aboard the jetliner unless they find the plane, and that in itself is a daunting challenge.