Seagram calls off talks with Allied Domecq: Seagram, the Canadian drinks and entertainment group, has called off talks about closer links with Britain's Allied Domecq, according to media reports. Seagram has decided to go it alone, ending a series of meetings over the lastnine months which have covered a range of options from joint ventures to a merger, the reports said. "We were thinking about consolidation very strongly 18 months ago," the reports quoted John Hunter, chairman of Seagram's spirits and wine arm, as saying. "We are now much more comfortable that we can grow profitably in our own right." Industry analysts have long believed that Seagram, which owns Chivas Regal scotch, Martell cognac and distributes Absolut vodka, represents the best fit for Allied Domecq. But, despite talks between the two in the past, an agreement has proved elusive.

Mazda sees US sales rising 12% to 270,000: Mazda Motor Corp said on Friday that the group expected its sales in the United States in 1999 to rise 12 per cent year-on-year to 270,000 vehicles. The company also said it expected sales in Europe in 1999 to rise to 270,000 units from an estimated 238,000 this year.

Korea finance commission sets up customer body: South Korea's Financial Supervisory Commission said onFriday it had established the Financial Supervisory Service (FSS) to ensure fair trade practices in the financial sector. The FSS will bring the Banking Supervisory Authority, Securities Supervisory Board, Insurance Supervisory Board and Non-bank Supervisory Authority under one roof. The commission said in a statement the FSS, which would start next year, would primarily ensure fair trade in the financial sector to protect customers and investors at various financial institutions. The financial body would also support various activities of the Financial Supervisory Commission and the Securities and Futures Supervisory Commission, the statement said.