Business news for Mon, 17 Dec 2007 & with word service. 21 news.

Service sector companies in the eurozone are bearing the brunt of a slowdown that continues to deteriorate, according to a closely watched survey

SHANGHAI'S new apartments, excluding budget homes and houses designated for relocated residents, have been sold at an average price of 1.28 million yuan (US$172,970) per unit so far this year, a major real estate research firm disclosed yesterday. The price represents an increase of 11.4 percent compared to 2006. "By December 15, approximately 20.39 million square meters of new homes have been sold in the city with an average price of 10,292 yuan per square meter," said Xue Jianxiong, head of research at Shanghai Youwin Real Estate Information Service Co Ltd, the report compiler. "Last year, 16.77 million square meters of new houses were sold, at an average price of 9,432 yuan per square meter." In terms of unit and space, 163,645 apartments have been sold till mid December, with an average unit space of 124.65 square meters (gross floor area), compared with 137,335 units sold in 2006 with an average GFA of 122.15 square meters, according to Youwin

EUROPE'S manufacturing and service industries grew at the slowest pace in more than two years this month because of increases in energy and food prices and borrowing costs. Royal Bank of Scotland Group Plc said yesterday a preliminary estimate of its composite index fell to 53.3 from 54.1 in November. That's the lowest since August 2005 and lagged behind the 53.7 median of 15 forecasts in a Bloomberg News survey. A reading above 50 indicates growth. Europe's economy is heading for its slowest growth in three years in 2008 due to a near-record level for the euro, a 50 percent increase in crude oil prices, and higher lending costs. While the European Central Bank this month cut its forecast for economic growth next year, it's held off reducing interest rates as the inflation rate reached a six-year high. "The index is consistent with below-trend growth in the euro zone and this will continue until at least the second quarter 2008," Marco Valli, an economist at

OVERALL demand for office space in Asia's major commercial centers remained robust over the past quarter, led by expanding local businesses and non-finance-related occupiers increasingly notable in many regional markets, a leading global real estate service provider has said. Supply of Grade A office space continued to be tight in the central business district areas of Hong Kong, Singapore and Ho Chi Minh City in Vietnam, with vacancy rates hovering at five percent or lower. The Philippines and Singapore led the entire Asian market, with rents jumping over 15 percent over the past quarter, according to a recently released analysis by CB Richard Ellis. Rents in major Chinese cities also remained buoyant in the three-month period. In Shanghai, average rent rose 2.7 percent from a quarter earlier to 20.9 yuan (US$2.84) per square foot per month. In particular, rents grew 2.6 percent to 20.4 yuan per square foot per month in Puxi and rents increased 3.3 percent to 22.3 yuan per

A DNA-based matchmaking service claims to hook up couples who will share an aromatic attraction.

The United States Postal Service was expecting to handle more than three million cards and letters Monday at its Baltimore Processing and Distribution Center, twice the amount of an average day.

NetSuite Inc., one of the pioneers in the rapidly growing business of selling software as a Web-based service, is expected to launch as a public company this week in what will be the most notable public offering since the debut of VMware four months ago.

His appointment will be effective from the date he assumes charge of his office, an official statement said on Monday. An Indian Administrative Service officer of Kerala cadre, 1972 batch, Rai will take over from V N Kaul.

Google has taken direct aim at the widely-used Wikipedia with a project designed to supplant the collectively produced encyclopedia as the primary source for basic information on the Web.

Qwest's CEO said the company plans to deploy fiber-optic connections to select areas within 20 markets, but unlike rivals has no plans for an Internet TV service.

Hank Paulson will have at least one job offer he'll love upon leaving the Bush administration - anchor on a new syndicated news service called Bird News Network. The Treasury secretary and former Goldman Sachs chief keeps his wits and balance...

Adobe Systems Flash-based service, already integrated with Salesforce.com, lets developers embed voice services into Web applications.

NEW YORK (Reuters) - Oil and gas service company National Oilwell Varco Inc said on Monday it would buy peer Grant Prideco Inc for about $7.37 billion in the latest link-up in the sector that has been bolstered by record oil prices.

Two US private equity funds are paying $436m to take over Landmark Aviation, one of the leading US operators of service bases for users of private jets, from Dubai Aerospace Enterprise

Mobile video provider mywaves today launches a new version of its free service with a heavy emphasis on social networking features. The new options will let users set up profile pages, share video recommendations with friends, and post lists of favorites, among other capabilities.

TEL AVIV (MarketWatch) -- Loews Corp., the New York investment-holding company, said it would spin off its interest in the Lorillard tobacco company to holders of its two classes of stock: Loews and Carolina Group. Lorillard would become a publicly traded company under the plan, Loews said in a statement on Monday. In the deal, Loews would swap each Carolina Group share for 1 Lorillard share. The Lorillard shares to be distributed in this swap account for 62% of Lorillard. The remaining 38% of Lorillard would go to holders of Loews shares. Loews said it would either swap that holding for Loews common shares "if market conditions are acceptable"; or if the swap isn't fully subscribed, it will distribute the 38% of Lorillard to Loews holders as a dividend. Conditions include receipt of an Internal Revenue Service ruling that the deal is tax-free to holders, clearance by the Securities and Exchange Commission, and others. Loews hopes to close the spinoff in mid-2008.

The first free U.S. in-flight e-mail and instant messaging service will launch next Tuesday aboard a JetBlue flight leaving Kennedy Airport in New York…

I get lots of calls from people who paid good money for an item or service only to discover that the company went out of business before it could be delivered.

Two US private equity funds are paying $436m to take over Landmark Aviation, one of the leading US operators of service bases for users of private jets, from Dubai...

UK fixed-line broadband television service will not launch before Christmas.