Takeover talk boosts stocks across Europe, Asia

Stocks rose for a second day in Europe and Asia on takeover speculation after UK pub owner Mitchells & Butlers Plc received a merger proposal and speculation that an offer may be made for German builder Hochtief AG.

Probe says SocGen's controls 'failed'

French Finance Minister Christine Lagarde said Societe Generale SA's internal controls "clearly" failed to detect a trader's deals that led to a 4.9 billion-euro loss.

Oil slides below $89 per barrel

Oil fell further below $89 a barrel yesterday, adding to sharp losses the previous session, as fears over a possible US economic recession prompted more profit-taking.

Investors may deliver major snub to Yahoo chief

Jerry Yang, who pledged last year to lead his team of "Yahoos" to victory, may find investors would rather team up with Microsoft Corp.

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Starbucks to shut 100 stores in US

Starbucks Corp said it is closing 100 underperforming US stores and slowing domestic openings in the face of a likely consumer recession and "cannibalization" from overbuilding.

BMW expects record volumes

BMW expects record sales volume for all three group brands this year after 2007 revenue rose 14.3 percent to a record 56.02 billion euros, the world's No 1 premium carmaker said.

Shift from GM to Fiat, VW may boost Johnson

Johnson Controls Inc, the world's largest maker of car batteries and seats, may boost earnings for an 18th straight year in 2008 by relying on orders from Fiat SpA and Volkswagen AG rather than General Motors Corp.

Samsung to fork out $2.4b over failed auto business

A South Korean court ruled yesterday that Samsung Group companies and its chairman pay creditors of its failed carmaking business $2.4 billion.

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