Business International

BASF earnings gain on catalysts, farm chemicals

BASF SE, the world's biggest chemicals producer, said fourth-quarter profit gained 8.3 percent on demand for pesticides and higher-margin catalysts used to control vehicle emissions.

Arms firm BAE says profit fell by 45%

BAE Systems Plc, Europe's biggest weapons maker, said full-year profit fell 45 percent after a year-earlier gain from the sale of a stake in Airbus SAS.

Blu-ray win may not halt slowdown

Sony Corp Chairman Howard Stringer's triumph over Toshiba Corp may not be enough to prevent earnings growth from slowing.

Tata investors cold on firm's pursuit of Jaguar

Tata Motors Ltd's pursuit of Ford Motor Co's Jaguar and Land Rover luxury units spurred A.S. Thiyaga Rajan to sell 99 percent of his shares in India's biggest truckmaker. He isn't alone in dumping the stock.

IN BRIEF (Page 16)

UK bank's stock plummets after ditching target

Alliance & Leicester Plc plunged in London trading to the lowest since going public in 1997 after the UK mortgage lender scrapped its profit target for this year and next because of the seizure in credit markets.

Tycoon to use funds to set up new lender

French billionaire Romain Zaleski's Carlo Tassara International SA plans to use the 1.17 billion euros it raised from the sale of a stake in ArcelorMittal to fund new projects, including a bank.

Business International

StanChart dumps plan to fund SIV

Standard Chartered Plc abandoned a plan to refinance its $7.15 billion Whistlejacket Capital Ltd structured investment vehicle, the largest SIV run by a bank to collapse.

Utility reports strong growth

French power utility EDF yesterday reported stronger than expected underlying earnings growth for 2007 but said 2008 would be marked by sharply higher investment costs.

BNP Paribas profit dips 42% on writedowns

BNP Paribas SA, France's largest bank, reported a 42 percent decline in fourth-quarter profit after writing down the value of securities hurt by worsening credit markets.