Holcim income falls to $523m

Holcim Ltd, the world's second- biggest cement maker, reported a less-than-expected decline in fourth-quarter profit after it sold a South African unit to focus on expansion in Asia.

ABB chairman likely to pursue more acquisitions

Swiss engineering firm ABB's Chairman Hubertus von Gruenberg looks poised to pursue takeovers at the group as acquisition prices tumble and he assumes a more hands-on role, investors and analysts said.

IN BRIEF (Page 16)

Business International

Visa unveils plans for massive IPO

Visa Inc, the world's largest credit card network, said it may raise up to $18.8 billion in the largest US initial public offering, despite unsteady financial markets and a global credit crunch that could eat into transaction volumes.

Card giant not offering much of a bargain

Visa Inc's shares look cheap only by comparison with those of MasterCard Inc, its biggest rival among credit-card networks.

AmEx chief nets cool $50m in 2007

American Express Co, the credit card and travel services company, said on Monday Chief Executive Kenneth Chenault was awarded about $50.1 million in compensation in 2007.

Woolies' profit increases 28%

Woolworths Ltd, Australia's biggest supermarket chain, beat forecasts with a 28 percent jump in first-half profit on strong food and liquor sales, and outlined plans to hold on to its top position.

IBM hopes new computer can give HP run for money

IBM introduced a mainframe computer that performs tasks more quickly while using less power, stepping up competition with Hewlett-Packard Co and Dell Inc for business customers.

IN BRIEF (Page 16)

Business International

Stocks rally as hopes rise over bond insurers

Stocks gained in Europe and Asia, led by financial companies, on speculation bond insurers will maintain their credit ratings, limiting further losses related to subprime-mortgage defaults. US index futures advanced.