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.

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Business International

Oz miner launches $5.6b offer for Zinifex

Australian miner Oxiana Ltd launched an agreed A$6 billion ($5.6 billion) takeover offer for Zinifex Ltd yesterday, as they look to diversify to benefit from booming global minerals demand.

Pearson profit exceeds estimates

Pearson Plc, the publisher of the Financial Times newspaper, reported 2007 profit that surpassed analyst estimates as the company expanded its education business and sold some assets.

United Tech sets sights on Diebold takeover

United Technologies Corp, the maker of Otis elevators and Chubb security systems, went public with its offer to buy Diebold Inc for $2.63 billion after failing for two years to persuade the manufacturer of automated teller machines to discuss a combination.

Biz people

Carlyle Group hires Sarkozy

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Business International

Sears net income falls 47 percent on sliding sales

Sears Holdings Corp, the retailer controlled by investor Edward Lampert, reported fourth-quarter profit that plunged more than analysts projected after appliance and clothing sales declined.

Deutsche Telekom earnings nosedive

Deutsche Telekom AG, Europe's largest telephone company, reported an unexpected fourth-quarter loss on additional costs to cut jobs.