Trader charged with attempted fraud

Jerome Kerviel, the trader accused by Societe Generale SA of unauthorized dealing that led to 4.9 billion euros in losses, was charged with attempted fraud by the French financial police yesterday.

Business International

GM clings on to global market lead

General Motors, a symbol of American industrial might and the world's top seller of motor vehicles since Herbert Hoover was president, has been all-but-overtaken by a foreign rival.

Wal-Mart chief says stores 'may sell hybrids'

Wal-Mart Stores Inc Chief Executive Officer H. Lee Scott discussed with automakers the possibility of selling gasoline-electric hybrid cars and plug-in automobiles at the retailer's stores.

Japanese firm may get upper hand

Toyota Motor Corp is very close to supplanting General Motors Corp as the world's largest auto manufacturer by annual sales, but compare the two by market value and there's no contest.

Hyundai unveils healthy results

Hyundai Motor Co, South Korea's top auto maker, yesterday reported quarterly operating profit more than doubled, beating expectations, helped by higher sales, aggressive cost reductions and a weaker won.

Is cheaper coffee the answer for Starbucks?

Faced with growing competition from cheaper rivals, Starbucks Corp is selling small cups of drip coffee for $1 with free refills as part of a test in its hometown.

Apple chief Jobs' salary totaled mere $1 in 2007

Apple Inc Chief Executive Steve Jobs continued his tradition of taking home only $1 in salary in 2007, when he also gained $14.6 million on paper by exercising stock options that were about to expire, according to a filing with the Securities and Exchange Commission.

IN BRIEF (Page 16)

Business International

Two US banks suffer profits wipeout

Bank of America Corp and Wachovia Corp, the second- and fourth-largest US banks, said on Tuesday quarterly profits were nearly wiped out by more than $10 billion of credit losses and writedowns.

TI stock rises on good results

Cell phone chipmaker Texas Instruments Inc posted a quarterly profit and outlook that signaled solid demand for its chips despite a weak US economy, sending its shares up 3.5 percent.