Is Cayne the next major CEO for chop?

Bear Stearns Cos Chief Executive Officer James Cayne plans to resign as the securities firm's shares languish following unprecedented losses from the collapse of the subprime mortgage market, according to a source.

Expectations rise of Fed rate cut as dollar climbs

The dollar rallied yesterday, recovering from a slide after last week's poor US jobs data and helping European equities edge up, while government bond prices fell.

GM pins hopes on overseas markets

General Motors Corp, the world's largest automaker, will probably get 75 percent of car and truck sales from outside the United States within a decade, Chief Executive Officer Rick Wagoner said.

Firm to cut rocket launch costs

Japan's Mitsubishi Heavy Industries said yesterday that it aimed to slash the launch cost of its H-2A rocket as it competes with European and US rivals to put satellites into space.

EADS share price takes a tumble

Shares in European aerospace group EADS fell yesterday on reports of production problems with the Airbus A400M military transporter.

IN BRIEF (Page 17)

Business International

Business International

Bank says Britons will find it harder to borrow

Households and companies are likely to find it harder to borrow in the coming months after money market turmoil tightened credit conditions at the end of last year, a survey from the Bank of England showed yesterday.

Oil edges back toward $100 mark

Crude oil traded yesterday near Wednesday's record of $100 a barrel as OPEC officials said the group can't curb prices and the United States refused to release emergency supplies.

More price rises in the pipeline

With oil having briefly touched the once unfathomable price of $100 a barrel, consumers can expect the cost of filling their gas tanks, heating their homes - in fact, the price of almost everything - to also keep rising.

Gold, platinum reach record levels

Gold and platinum rose to records for a second day and crude oil traded near $100 a barrel as the dollar's slump enhanced the appeal of raw materials as an inflation hedge.