Stocks head south in Europe, Asia

Stocks retreated in Europe and Asia, led by financial companies, as analysts forecast more credit- market losses for banks and Warren Buffett said "the party is over" for insurers. US index futures fell.

Emerging markets boost HSBC profit

HSBC Holdings Plc, Europe's biggest bank by market value, said second-half profit rose 17 percent as emerging-markets lending overcame subprime losses on customers in the United States.

Crude oil falls for second day

Crude oil fell a second day before an OPEC meeting this week where the producer group is expected to keep its output targets unchanged.

An effective indicator of US misery

Most Americans don't need statistics to remind them that they feel lousy. But in case they do, there's always the misery index, the sum of the US unemployment rate and inflation. The measure serves as a pretty good indicator of consumer sentiment .

IN BRIEF (Page 17)

Business International

Google could gain from battle of giants

Neither Microsoft Corp nor Yahoo Inc wants to blink first in the software giant's proposed $41.7 billion takeover of the Web pioneer but as the gamesmanship drags on, archrival Google Inc, the merger's raison d'etre, is the biggest beneficiary.

Bid may continue to be 'distraction'

Yahoo Inc has faced significant distraction from Microsoft Corp's unsolicited takeover bid, the company warned investors on Wednesday in its annual report filed with US regulators.

Brewer posts profit hike

InBev, the world's second-largest beer producer by volume, reported a 16.5 percent like-for-like rise in 2007 core profit yesterday, beating expectations, but said it faced greater challenges in 2008.

Viacom Q4 earnings 'probably rose'

Viacom Inc, the media company controlled by Sumner Redstone, may say fourth-quarter profit rose on higher ratings at its MTV cable networks and DVD sales of the Transformers movie.

IN BRIEF (Page 17)

Business International