ArcelorMittal to boost steel prices

ArcelorMittal, the world's largest steelmaker, plans to boost prices on some contracted steel shipments in the US by $250 a ton to recoup surging costs for energy and iron ore.

Rio has drop in output of mining products

Rio Tinto Group, the world's third-largest mining company, reported a drop in production of steelmaking coal, copper, diamonds, zinc and lead as the industry struggles to grow at a time of record-high prices.

Rice jumps to record high on Philippines' lead

Rice climbed to a record for a second day as the Philippines, the world's biggest importer, sought to buy 1 million metric tons and floods delayed planting in the US, increasing concern that there's a global shortage of the grain.

Carlyle bids for TheFaceShop

Carlyle Group, Bain Capital LLC and Advantage Partners LLC were picked to submit final bids for South Korean cosmetics maker TheFaceShop, said four people familiar with the matter.

IN BRIEF (Page 17)

Business International

Foreclosure filings in US jump 57%

US foreclosure filings jumped 57 percent and bank repossessions more than doubled in March from a year earlier as adjustable mortgages increased and more owners gave up their homes to lenders.

UK house sentiment lowest since 1978

The Royal Institution of Chartered Surveyors' measure of sentiment in the UK housing market fell to the lowest since records began in 1978 in March as mortgage lending dried up.

IN BRIEF (Page 17)

Business International

Wachovia's posted loss unexpected

Wachovia Corp, the fourth-largest US bank, reported an unexpected loss because of subprime infected mortgage holdings and said it plans to raise capital by selling shares to outside investors.

Blockbuster bids up to $1.35 billion for Circuit City

Blockbuster Inc, the biggest movie-rental chain, made an unsolicited offer to buy Circuit City Stores Inc, for as much as $1.35 billion as the second- largest US electronics retailer struggles with falling sales.