Card giant not offering much of a bargain

Visa Inc's shares look cheap only by comparison with those of MasterCard Inc, its biggest rival among credit-card networks.

AmEx chief nets cool $50m in 2007

American Express Co, the credit card and travel services company, said on Monday Chief Executive Kenneth Chenault was awarded about $50.1 million in compensation in 2007.

Woolies' profit increases 28%

Woolworths Ltd, Australia's biggest supermarket chain, beat forecasts with a 28 percent jump in first-half profit on strong food and liquor sales, and outlined plans to hold on to its top position.

IBM hopes new computer can give HP run for money

IBM introduced a mainframe computer that performs tasks more quickly while using less power, stepping up competition with Hewlett-Packard Co and Dell Inc for business customers.

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Business International

Stocks rally as hopes rise over bond insurers

Stocks gained in Europe and Asia, led by financial companies, on speculation bond insurers will maintain their credit ratings, limiting further losses related to subprime-mortgage defaults. US index futures advanced.

Munich Re Q4 profit slips 12%

Munich Re, the world's second-biggest reinsurer, reported a 12 percent decline in fourth-quarter profit and predicted "a more difficult environment" in 2008.

US wheat contract reaches record

US high-protein spring wheat traded on the Minneapolis Grain Exchange surged above $20 per bushel yesterday to set a record high for any US wheat contract, extending recent gains amid supply concerns.

Stokes seeks to swing axe at newspaper

Seven Network Ltd, the largest shareholder of West Australian Newspapers Holdings Ltd, is seeking the removal of five board members from the publisher of Perth's only daily newspaper because of poor performance.

Biz people

UBS: Ospel won't quit after a year

IN BRIEF (Page 16)