IN BRIEF (Page 16)

Business International

Retailer beats analysts' estimates

Kingfisher Plc, Europe's largest home-improvement retailer, said first-quarter profit climbed 8.9 percent, beating analysts' estimates, after it offered fewer promotions and reduced costs.

Oz economy grows faster than forecast

Australia's economy grew twice as fast as economists forecast in the first quarter, driving the nation's currency higher on speculation the central bank may raise interest rates for a third time this year.

European stocks, US index futures decline

European stocks dropped and US index futures fell on speculation banks may need more capital as losses increase, while lower oil and metals prices weighed on commodity producers. Shares in Asia rose.

IN BRIEF (Page 16)

United to 'cut fleet, axe low-fare unit'

UAL Corp's United Airlines, the world's second-largest carrier, will cut its fleet by about 70 planes and shut the low-fare Ted unit to counter record fuel expenses, a person familiar with the plan said.

Business International

European expansion exceeds estimates

European economic growth accelerated more than initially estimated in the first quarter as investment and construction spending in Germany helped the region weather record oil prices, the euro's gains and market turmoil.

Toll reports third straight loss

Toll Brothers Inc, the largest US luxury-home builder, reported its third straight quarterly loss as tumbling demand for new homes forced the company to write down land values.

Pricier bubbly boosts Laurent-Perrier

Laurent-Perrier SA, the maker of Grande Siecle champagne, said full-year profit rose 15 percent after demand for higher-priced sparkling wine swelled margins.

Indian talent pays back taxpayers, shuns Uncle Sam

For almost 50 years, the hard-earned money of India's taxpayers has gone down the "brain drain" as many of the engineers trained at the prestigious Indian Institutes of Technology (IIT) went overseas and didn't return.