MBIA posts $2.3b Q4 net loss

MBIA Inc, the world's largest bond insurer, posted its biggest-ever quarterly loss and said it is considering new ways to raise capital after a slump in the value of subprime-mortgage securities the company guaranteed.

Shell cashes in on high oil prices

Royal Dutch Shell Plc, Europe's biggest oil company, said fourth-quarter profit climbed 60 percent, boosted by crude prices that approached $100 a barrel and countered lower production and earnings from refining.

Tata buys US firm for $1b

Tata Chemicals Ltd, part of India's second-largest business group, agreed to buy US-based General Chemical Industrial Products Inc for $1 billion to become the world's second-largest maker of soda ash.

Vodafone revenue boosted 4 percent

Vodafone Group Plc, the world's biggest mobile-phone company by sales, said third-quarter revenue from wireless services rose 4.2 percent on growth in India and Turkey.

Fed rate cut pleases investors

Federal Reserve Chairman Ben Bernanke and his critics in financial markets may finally be on the same page.

IN BRIEF (Page 17)

Business International

Yahoo dips on drop in Q4 profit

Yahoo Inc posted a drop in quarterly profit on Tuesday (local time) and forecast 2008 revenue below Wall Street estimates as it cuts jobs and invests to shore up its Web advertising business.

Honda raises earnings forecast on sales

Honda Motor Co, Japan's second-largest carmaker, raised its full-year net income forecast 7.8 percent after demand for its fuel-efficient models spurred sales in the United States and Asia.

IN BRIEF (Page 17)

Business International

Fast food giant serves up poor sales

McDonald's Corp said on Monday (local time) that US same-store sales in December hit the lowest monthly level in nearly five years, sending its stock down as much as 8.8 percent and weighing on the fast-food sector.