Dollar nears new low against euro

The dollar approached its all-time low against the euro on speculation the Federal Reserve's plan to provide funds to banks won't be enough to break the gridlock in money-market lending and stem credit losses.

Business International

Euro rises to record against dollar; yen heads south

The euro rose to a record against the dollar after a private report showed investor confidence in Germany unexpectedly rose this month.

A5 helps to rev up Audi earnings

Audi AG, Volkswagen AG's luxury-car division, said profit rose 26 percent to a record last year after the company introduced the A5 Coupe and TT Roadster.

Media mogul gets more downcast

News Corp Chief Executive Rupert Murdoch said he has become "more pessimistic" in the past month about the US economy as an advertising slowdown in local television and newspaper markets whips across the media industry.

Survey strikes a gloomy note

The economic slowdown in the United States will be deeper and the recovery weaker than previously forecast, according to a Bloomberg News monthly survey.

IN BRIEF (Page 17)

Business International

Most stocks decline in Europe, Asia

Most European stocks fell and Asian shares slumped as commodities producers and technology companies retreated on concern the US economy has entered a recession.

Rose to be next M&S chairman

Marks & Spencer Group Plc, the largest UK clothing retailer, said Chief Executive Officer Stuart Rose will become executive chairman in June, taking over from Terry Burns when he steps down from his non-executive role.

Germany reports foreign trade hike

Germany sold a record amount of goods abroad in January and the trade surplus widened more than economists expected, a sign firms in Europe's biggest economy were coping well with the strong euro at the start of the year.

Oil prices fall below the $105 mark

Oil prices were lower yesterday as traders booked profits after last week's record highs and amid easing tension between oil producers Venezuela and Colombia over the weekend.