Business International

'I am truly sorry', says Samsung's Lee

Samsung Group Chairman Lee Kun-hee will step down after being charged with tax evasion and breach of duty, ending his two-decade reign over South Korea's largest industrial group.

'Hermit manager' changed company

Lee Kun-hee, who resigned yesterday as chairman of the scandal-tainted Samsung group, lives a reclusive existence, but his occasional pronouncements on business reverberated throughout South Korea.

Immelt resists calls to shrink GE

Chief Executive Officer Jeffrey Immelt said he will resist calls to shrink General Electric Co beyond an existing plan that includes reducing the company's consumer businesses in slowing economies.

Biocon Q4 profit rises 7.6%

Biocon Ltd, India's largest biotechnology firm, said yesterday fourth-quarter net profit rose 7.6 percent as demand for drugs and research services offset the impact of a stronger rupee.

News Corp turns toxic as investors shun Murdoch

Rupert Murdoch's effort to turn his $580 million MySpace purchase into an advertising powerhouse has turned News Corp into a toxic stock.

IN BRIEF (Page 16)

Jaguar and Land Rover chief Polites dies at 60

Jaguar and Land Rover's Chief Executive Geoff Polites, who is credited with steering the storied British luxury brands through the ongoing sale process to India's Tata Motors Ltd, has died. He was 60.

Business International

Biz boost gives freight firm shot in the arm

Kuehne & Nagel International AG, the world's largest sea-freight forwarder, said first-quarter profit rose 19 percent as air and maritime shipments increased.

Big price hikes prove profitable for Nestle

Nestle SA, the world's largest food company, said first-quarter sales rose 6 percent after increasing prices by the most in a decade for products from Nescafe coffee to KitKat chocolate bars.

Circuit breaker maker up in Q1

Schneider Electric SA, the world's biggest maker of circuit breakers, said first-quarter revenue gained 11 percent, bolstered by emerging-market expansion and demand for energy-saving products.