Survey strikes a gloomy note

The economic slowdown in the United States will be deeper and the recovery weaker than previously forecast, according to a Bloomberg News monthly survey.

IN BRIEF (Page 17)

Business International

Most stocks decline in Europe, Asia

Most European stocks fell and Asian shares slumped as commodities producers and technology companies retreated on concern the US economy has entered a recession.

Rose to be next M&S chairman

Marks & Spencer Group Plc, the largest UK clothing retailer, said Chief Executive Officer Stuart Rose will become executive chairman in June, taking over from Terry Burns when he steps down from his non-executive role.

Germany reports foreign trade hike

Germany sold a record amount of goods abroad in January and the trade surplus widened more than economists expected, a sign firms in Europe's biggest economy were coping well with the strong euro at the start of the year.

Oil prices fall below the $105 mark

Oil prices were lower yesterday as traders booked profits after last week's record highs and amid easing tension between oil producers Venezuela and Colombia over the weekend.

IN BRIEF (Page 17)

Business International

Weak dollar pushes oil over $105

Oil hit a record high near $106 yesterday as a weak dollar helped prices to extend the previous day's gains, which were prompted by a drop in US oil inventories and OPEC's decision to keep output unchanged.

Paint giant's earnings up 42%

Akzo Nobel NV, the world's largest maker of paints, said fourth-quarter earnings increased 42 percent on sales of house paints and chemicals used in the paper and pulp industry.

DHL writedown takes toll on Deutsche Post earnings

Deutsche Post AG, Europe's biggest mail carrier, posted a 61 percent drop in fourth-quarter profit after writing down the value of its DHL Express unit in the United States.