Munich Re Q4 profit slips 12%

Munich Re, the world's second-biggest reinsurer, reported a 12 percent decline in fourth-quarter profit and predicted "a more difficult environment" in 2008.

US wheat contract reaches record

US high-protein spring wheat traded on the Minneapolis Grain Exchange surged above $20 per bushel yesterday to set a record high for any US wheat contract, extending recent gains amid supply concerns.

Stokes seeks to swing axe at newspaper

Seven Network Ltd, the largest shareholder of West Australian Newspapers Holdings Ltd, is seeking the removal of five board members from the publisher of Perth's only daily newspaper because of poor performance.

Biz people

UBS: Ospel won't quit after a year

IN BRIEF (Page 16)

Business International

BASF earnings gain on catalysts, farm chemicals

BASF SE, the world's biggest chemicals producer, said fourth-quarter profit gained 8.3 percent on demand for pesticides and higher-margin catalysts used to control vehicle emissions.

Arms firm BAE says profit fell by 45%

BAE Systems Plc, Europe's biggest weapons maker, said full-year profit fell 45 percent after a year-earlier gain from the sale of a stake in Airbus SAS.

Blu-ray win may not halt slowdown

Sony Corp Chairman Howard Stringer's triumph over Toshiba Corp may not be enough to prevent earnings growth from slowing.

Tata investors cold on firm's pursuit of Jaguar

Tata Motors Ltd's pursuit of Ford Motor Co's Jaguar and Land Rover luxury units spurred A.S. Thiyaga Rajan to sell 99 percent of his shares in India's biggest truckmaker. He isn't alone in dumping the stock.

IN BRIEF (Page 16)

UK bank's stock plummets after ditching target

Alliance & Leicester Plc plunged in London trading to the lowest since going public in 1997 after the UK mortgage lender scrapped its profit target for this year and next because of the seizure in credit markets.