Ford may say Q4 loss narrowed

Ford Motor Co, the automaker that lost a record $12.6 billion in 2006, may report a narrower fourth-quarter loss after Chief Executive Officer Alan Mulally closed plants and cut jobs in his first full year on the job.

IN BRIEF (Page 17)

Business International

European stocks rally on Fed cut

European stocks rose after the US Federal Reserve cut interest rates in an emergency move to help thwart recession. Barclays Plc and BNP Paribas SA led gains by banks.

US economy may be near tipping point

The US economy may be "one shock" away from a recession, Lehman Brothers Inc said, pointing to the global slump in equity markets as a possible "tipping point".

Dollar declines against euro

The dollar fell sharply against the euro yesterday after the Federal Reserve unexpectedly slashed its benchmark overnight lending rate by 75 basis points in a bid to allay market fears about a US recession.

Commodities sold to cover losses

Crude oil fell to a six-week low and copper erased most of this year's gain as investors sold commodities to cover losses in equity markets and on concern that slower global growth will curb demand for raw materials.

EU concerned over impact of market slump

European finance ministers said a global stock-market slump and an economic slowdown in the United States threaten to slow growth in Europe more than forecast.

IN BRIEF (Page 17)

Business International

Famous sons launch bid to buy out media firm

Lachlan Murdoch, son of media tycoon Rupert Murdoch, and Australian gaming magnate James Packer launched a joint A$3.3 billion ($2.9 billion) offer yesterday to buy out the Packer-backed publishing company Consolidated Media Holdings.

Private sector gets two weeks to save stricken UK bank

Britain set a two-week deadline for a private-sector rescue of Northern Rock yesterday, as it confirmed plans to convert its billions of pounds of loans to the stricken bank into bonds in a bid to smooth a deal.