IN BRIEF (Page 10)

UK economic growth

Britain emerged from recession at a faster pace than previously estimated in the fourth quarter as services output jumped, providing a boost for Prime Minister Gordon Brown as he prepares for a general election within weeks.

Gross domestic product rose 0.3 percent from the third quarter, compared with a previous calculation of 0.1 percent growth, the Office for National Statistics said. The median forecast in a Bloomberg News survey of 27 economists was for a 0.2 percent increase.

Bayer income rises

German chemical and pharmaceutical company Bayer AG said on Friday its net income rose 44 percent in the fourth quarter to 153 million euros ($208 million) as cost savings and a pickup in some business offset negative currency effects and charges for the integration of Schering.

The company, famous for its Bayer aspirin, had earned 106 million euros in the October-December period of 2008. Fourth quarter revenue for the company was nearly unchanged at 7.9 billion euros.

Lloyds posts loss

Lloyds Banking Group Plc, Britain's biggest mortgage lender, posted a wider-than-expected full-year loss as loan losses rose "significantly" in 2009 on the bank's takeover of HBOS Plc.

Lloyds's pretax loss narrowed to 6.3 billion pounds ($9.6 billion) from 6.7 billion pounds in 2008, the London-based bank said.

Nomura bond sale

Nomura Holdings Inc, Japan's biggest brokerage, raised $3 billion from its first public US bond sale in dollars as it seeks to build its brand name in the world's largest economy.

The Tokyo-based company sold $1.5 billion of five-year, 5 percent notes priced to yield 2.75 percentage points more than similar-maturity US Treasuries, and $1.5 billion of 6.7 percent, 10-year bonds at a 3.1 percentage point spread, according to data compiled by Bloomberg.

AP-Reuters-Bloomberg News

(China Daily 02/27/2010 page10)