Subprime won't cut lender's dividend

The shrinking value of subprime mortgage investments will eat further into Commerzbank's 2007 profits but the German bank still plans to raise its dividend, its designated chief executive said.

Owners rally to prop up WestLB

Owners of Germany's WestLB rallied to prop up the stricken state lender yesterday by shouldering what the bank said would be a 1 billion-euro loss in 2007 and writedowns just as big in the wake of the credit market crunch.

JC Flowers considers offer for insurer

US private equity firm JC Flowers said yesterday it is considering making an offer for Britain's Friends Provident, boosting the shares of the stricken insurer.

IN BRIEF (Page 17)

Global stocks, US futures bounce back

Global stocks advanced for the first time in three days after better-than-estimated sales from Alstom SA bolstered confidence in earnings. US index futures rose.

Reliance profit more than doubles on sale of stake

India's biggest listed company, Reliance Industries Ltd, yesterday beat forecasts as quarterly profit more than doubled on a one-off gains from the sale of a stake in a unit and high oil refining margins.

Novartis income slides by 45%

Novartis AG, Europe's third-largest drugmaker, reported fourth-quarter profit that missed analysts' estimates because of generic competition to the Lotrel heart medicine and the Lamisil antifungal treatment.

India's richest woman enjoys healthy returns

Biocon Ltd, a drugmaker controlled by India's richest woman, said yesterday its nine-month profit rose 15 percent on increased demand for products and contract research services.

IN BRIEF (Page 17)

Business International

Business International

Boeing's order book fatter than Airbus'

European planemaker Airbus posted 1,341 net aircraft orders in 2007, trailing the 1,413 planes sold by Boeing in a record year at both companies, Airbus said yesterday.