GE to shed appliance unit: Report

General Electric Co may sell or seek a partner for the unit that makes refrigerators and washers, ending more than a century in an industry that helped make GE a household name, people familiar with the situation said.

Toyota's green gamble pays off

Toyota's Prius started out a decade ago as a risky experiment in green technology. Today, it's the world's first mass-produced gas-electric hybrid vehicle to hit the one million mark in sales.

ITV says turnaround plan well on track

ITV Plc, the United Kingdom's biggest free-to-air commercial broadcaster, said yesterday its turnaround plan was on track and it was outperforming a tough television advertising market while increasing audience share.

Higher costs hit RWE earnings

RWE AG, Germany's second-largest utility, said first-quarter profit fell 48 percent as higher commodity costs narrowed margins on natural-gas sales and crimped earnings from trading.

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Business International

IMF chief expects no global recovery before 2009

The International Monetary Fund (IMF) does not expect the global economy to recover before 2009 even though a "large part" of the financial crisis may be over, its chief Dominique Strauss-Kahn said yesterday.

Mortgage firm posts $151m loss

Freddie Mac, the second-largest US mortgage-finance company, posted a $151 million first-quarter loss as tumbling home prices and record foreclosures drove up credit costs. The company will raise $5.5 billion in capital.

Deere harvests quarterly profit

Deere & Co, the world's largest maker of tractors and combines, said second-quarter profit rose 22 percent, as demand for farm machinery outpaced sales of excavators and backhoes.

Steel giants report earnings boost

ArcelorMittal, the world's biggest steelmaker, and ThyssenKrupp AG said profit rose after prices for the metal outpaced raw-material costs.

Biz people

Greenspan: Oil will keep rising

IN BRIEF (Page 16)