Business International

European expansion exceeds estimates

European economic growth accelerated more than initially estimated in the first quarter as investment and construction spending in Germany helped the region weather record oil prices, the euro's gains and market turmoil.

Toll reports third straight loss

Toll Brothers Inc, the largest US luxury-home builder, reported its third straight quarterly loss as tumbling demand for new homes forced the company to write down land values.

Pricier bubbly boosts Laurent-Perrier

Laurent-Perrier SA, the maker of Grande Siecle champagne, said full-year profit rose 15 percent after demand for higher-priced sparkling wine swelled margins.

Indian talent pays back taxpayers, shuns Uncle Sam

For almost 50 years, the hard-earned money of India's taxpayers has gone down the "brain drain" as many of the engineers trained at the prestigious Indian Institutes of Technology (IIT) went overseas and didn't return.

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Business International

Firms tell US govt to foot pollution bill

Rio Tinto Group and utilities are urging the US government to spend $20 billion on a technology they say has the best chance for eliminating pollution linked to global warming.

Hedge funds cut bets on oil price

Hedge-fund managers and speculators reduced bets on higher oil prices by 80 percent since July as crude futures rose to records and US regulators started investigating trading, government data show.

Airlines to suffer big losses in 2008

Airlines may report a collective loss of $2.3 billion this year as spiraling fuel costs and a slowing economy wipe out earnings, the industry's main trade group said.

Crude falls after storm misses Mexican field

Crude oil fell after a tropical storm missed Mexico's biggest oilfield and investors reduced holdings of the commodity.

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