Nestle SA, the world's largest food company, raised second-half profit 14 percent, beating analysts' estimates, after passing on higher commodity costs to consumers by increasing prices of Dreyer's ice cream and Nescafe instant coffee.
Dresdner Bank AG, Germany's third largest bank, agreed to rescue its $18.8 billion K2 structured investment vehicle, joining Citigroup Inc and HSBC Holdings Plc in putting capital at risk to bail out investment funds crippled by the collapse of the subprime mortgage market.
The European Commission cut its forecast for economic growth in the euro area and predicted the strongest inflation since the start of the single currency, highlighting the dilemma facing the region's central bank.
Hamburger chain Jack in the Box Inc posted a better-than-expected quarterly profit, helped by a rise in revenue on addition of new products to its menu, and raised the top end of its 2008 earnings forecast, sending its shares up more than 5 percent.
Small-value stocks got a much-needed lift after the Federal Reserve cut interest rates by 1.25 percentage points from Jan 22 to Jan 30.
The biggest rally in the history of wheat trading defied even some of the best conventional wisdom, humbling forecasters from Goldman Sachs Group Inc to the US government.
Investors applauded along with fashion editors yesterday when PPR SA's Bottega Veneta luxury label sent its fall collection down a Milan runway.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
