Finance minister says SocGen in 'crisis'

France's economy minister said Societe Generale, reeling from losses blamed on a rogue trader, is a bank in crisis and may need to ditch its chairman.

Bankers discuss economic woes

Bankers meeting at the Swiss ski resort of Davos said there are increasing risks of a global recession, while manufacturers countered that they have yet to feel it in their business.

Goldman: Japan probably in recession

Japan has probably fallen into recession, ending the nation's longest period of growth in more than 60 years, according to Goldman Sachs Group Inc.

Business International

Leaders' talks to focus on turmoil

Talks between the leaders of the United Kingdom, Germany, France and Italy in London today will focus on financial market turmoil and its impact on the world economy, an Italian government source was quoted as saying yesterday.

'Nice guy' who made billions from subprime crisis

A few months ago I had dinner with an old friend who told me an amazing story.

IN BRIEF (Page 16)

Trader charged with attempted fraud

Jerome Kerviel, the trader accused by Societe Generale SA of unauthorized dealing that led to 4.9 billion euros in losses, was charged with attempted fraud by the French financial police yesterday.

Business International

GM clings on to global market lead

General Motors, a symbol of American industrial might and the world's top seller of motor vehicles since Herbert Hoover was president, has been all-but-overtaken by a foreign rival.

Wal-Mart chief says stores 'may sell hybrids'

Wal-Mart Stores Inc Chief Executive Officer H. Lee Scott discussed with automakers the possibility of selling gasoline-electric hybrid cars and plug-in automobiles at the retailer's stores.

Japanese firm may get upper hand

Toyota Motor Corp is very close to supplanting General Motors Corp as the world's largest auto manufacturer by annual sales, but compare the two by market value and there's no contest.