Global stocks head south; US futures decline

Stocks fell in Europe and Asia after Citigroup Inc's announcement of as much as $11 billion in writedowns suggested financial companies may face more losses. US index futures retreated.

IN BRIEF (Page 16)

Business International

Increased spending strengthens MasterCard

MasterCard Inc, the second-biggest payment-card network, said profit climbed 63 percent, beating analysts' estimates, as customer spending increased. The shares rose as much as 8 percent in premarket trading.

Kingfisher rises on chief's fall

Kingfisher Plc said yesterday that Chief Executive Gerry Murphy would step down in February, boosting its shares on speculation of a bid for, or break up of, Europe's biggest home improvements retailer.

IBM to take security up a notch with $1.5b investment

IBM Corp, the world's biggest computer-services provider, plans to spend $1.5 billion next year to help customers secure data and comply with new rules for guarding information.

Israeli tycoons take nation into global marketplace

Israeli billionaire Nochi Dankner owns the country's biggest mobile-phone provider, supermarket chain and insurer. Now, as Dankner searches for ways to expand his IDB Group, he's looking abroad.

IN BRIEF (Page 16)

Ford, UAW gear up for crucial talks

Ford Motor Co, battling a 12-year slide in US market share, negotiates a new contract this week with a United Auto Workers union seeking to extend job guarantees won at General Motors Corp and Chrysler LLC.

Indian IT firms urged to tackle rising rupee

Indian IT firms that weathered the rupee's surge against the dollar in the fiscal second quarter are being told to tackle it in the long-term as foreign funds flood the local market.

Business International

Probe may force Slim to trim his sails

Mexico's antitrust chief said regulators will reopen an investigation of billionaire Carlos Slim's telephone companies, Telefonos de Mexico SAB and America Movil SAB, within about three weeks.