Business International

French lender reports $1.3b Q4 loss

Credit Agricole SA, France's second-largest bank by assets, posted its first quarterly loss since the company went public in 2001 after adding to writedowns linked to US subprime mortgages.

UK, Asian demand boosts Britain's biggest builder

Balfour Beatty Plc, Britain's biggest builder, said full-year profit surged 66 percent on buoyant markets in the United Kingdom and Asia, as well as last year's acquisition of Texas-based Centex Construction.

Tata 'seeks $3b loan' for auto brands

Tata Motors Ltd, the Indian automaker that's in talks to buy Ford Motor Co's Jaguar and Land Rover luxury units, is seeking to raise $3 billion in loans to fund the purchase, according to three people with direct knowledge of the deal.

European stocks bounce back

European stocks climbed for the first time in six days, led by banks, phone companies and automakers, on speculation they have fallen too much compared with earnings.

IN BRIEF (Page 16)

Business International

Billionaire Buffett says US has entered recession

Billionaire investor Warren Buffett said the US economy is in recession and that stocks are "not cheap" despite recent declines.

Europeans urge action on dollar

Worried euro zone policymakers pressured Washington yesterday to do more to halt the dollar's decline, a day after the US currency hit a record low against Europe's single currency.

Cheap bikinis buoy H&M stock

Hennes & Mauritz AB is selling 10-euro bikinis online in a bid to regain its crown as Europe's largest clothing retailer. The strategy might help boost the shares more than 10 percent.

Citigroup 'may need more outside cash'

Citigroup Inc, the biggest US bank, may need additional capital from outside investors as losses stemming from the collapse of the US subprime mortgage market increase, the head of Dubai International Capital said.

Piech drives toward goal of global auto empire

Ferdinand Piech made two giant strides on Monday toward forging a global automotive empire by gathering Swedish truckmaker Scania into the arms of Volkswagen and preparing Porsche in turn to take control of VW.