HAWAII

Auditors host disaster preparedness talk

Ray Trombley of the Bank of Hawaii will speak on "Corporate Disaster Preparedness" at a luncheon Oct. 21 hosted by the Institute of Internal Auditors, Hawaii Chapter.

The buffet starts at 11:30 a.m. Parking is available at the Chinatown Gateway Plaza on Bethel Street. RSVP by contacting Martin Peai at 539-5285 by noon Oct. 15. Leave a voice-mail with reservation information or e-mail him at martin.pea@fhwn.com. Individuals without reservations will be accommodated if possible. Cancellations and no-shows will be billed.

Cost is $22 for members, $25 for nonmembers, and $10 for students.

MAINLAND

Princess to seek talks with Carnival

WASHINGTON >> P&O Princess Cruises Plc said yesterday it was prepared to enter merger talks with Carnival Corp. and invited a revised offer from its previously preferred suitor, Royal Caribbean Cruises Ltd.

Only hours after U.S. antitrust regulators voted narrowly to allow either deal to go forward, the British cruise line said it wanted to talk to Carnival about a dual-listed company rather than a share exchange.

It said a dual listing with Carnival was both feasible and financially more attractive than the similarly structured and currently agreed deal with Royal Caribbean.

Carnival, the world's biggest cruise line, had made a nearly $5 billion hostile bid for P&O.

Yesterday's antitrust ruling from the U.S. Federal Trade Commission allayed concerns about getting clearance for a Carnival deal, Princess said.

ASIA

Japan to draw up anti-deflation package

TOKYO >> Japan plans to speed up efforts to fight deflation in the world's second-largest economy, hammering out a package of measures by Oct. 17, media said today.

The package had originally been expected by the end of the month, but events such as Thursday's dive of Tokyo stocks to a fresh 19-year low are likely to have given the government a fresh sense of urgency.

The Asahi Shimbun newspaper said Prime Minister Junichiro Koizumi had instructed Financial Services and Economics Minister Heizo Takenaka to have an interim package of anti-deflation measures ready by Oct. 17, a day before an extraordinary session of parliament opens.

The package may include measures concerning the use of public funds to speed the disposal of bank bad loans, along with measures to assist small- to medium-sized firms, the Asahi added.

Korea takes Australian cattle after suspension

Incheon, South Korea >> South Korea has taken delivery of its first shipment of live cattle from Australia in 16 months, signaling the resumption of trade worth about $12 million a year.

The first of three trial shipments to South Korea arrived at the port of Incheon, near Seoul, early today. The consignment of 563 Angus steers will be quarantined for 15 days before being moved onto ranches, Australian trade group LiveCorp said in a statement e-mailed to Bloomberg News.

"The cattle have been through a lengthy quarantine period in Australia and exhaustive health checks in accordance with Korean veterinary protocol," LiveCorp said.

The shipment is the first since Australia, the world's biggest beef and cattle exporter, suspended trade in June last year. Protesting local farmers bludgeoned at least two cattle to death amid their concern the imports may introduce disease and undercut local cattle prices. The suspension was lifted in July.