Fair features latest in hi-tech toys

A life-like toy golden retriever by Hasbro Inc and a joking, story-telling Elmo doll from Mattel Inc's Fisher Price line figure to be two of the year's hottest toys as the American International Toy Fair began on Sunday.

End near in DVD format battle

Consumers and investors cheered an impending end to a format war for next-generation DVDs yesterday, with share gains for both Toshiba, on the verge of abandoning its HD DVD discs, and Sony, the leader of the rival Blu-ray camp.

Australia expects bumper harvest

Australia is set for a bumper wheat harvest this year following good rain in the last three months, according to National Australia Bank, which expects the crop to jump to at least 23 million tons.

IN BRIEF (Page 16)

Business International

Takeover talk boosts stocks across Europe, Asia

Stocks rose for a second day in Europe and Asia on takeover speculation after UK pub owner Mitchells & Butlers Plc received a merger proposal and speculation that an offer may be made for German builder Hochtief AG.

Probe says SocGen's controls 'failed'

French Finance Minister Christine Lagarde said Societe Generale SA's internal controls "clearly" failed to detect a trader's deals that led to a 4.9 billion-euro loss.

Oil slides below $89 per barrel

Oil fell further below $89 a barrel yesterday, adding to sharp losses the previous session, as fears over a possible US economic recession prompted more profit-taking.

Investors may deliver major snub to Yahoo chief

Jerry Yang, who pledged last year to lead his team of "Yahoos" to victory, may find investors would rather team up with Microsoft Corp.

IN BRIEF (Page 16)

Business International

Starbucks to shut 100 stores in US

Starbucks Corp said it is closing 100 underperforming US stores and slowing domestic openings in the face of a likely consumer recession and "cannibalization" from overbuilding.