Business International

ECB keeps key rate at six-year high

The European Central Bank kept interest rates at a six-year high yesterday to fight inflation even as the euro-region economy cools.

Discounts help boost Wal-Mart, Costco May sales

Wal-Mart Stores Inc, the world's largest retailer, and Costco Wholesale Corp said May sales climbed more than analysts estimated as shoppers flocked to discount chains to save money on fuel and food.

Continental to ground jets, axe jobs

Continental Airlines Inc said it will eliminate 3,000 jobs and shrink its fleet by 67 planes, becoming the fourth major US carrier to slash payroll and flights because of soaring fuel prices.

IN BRIEF (Page 17)

Denmark Special

Denmark marks Constitution Day

Surrounded by a green garden shaded by luxuriant walnut trees, the Embassy of Denmark has a stately presence in Beijing's Sanlitun district.

Danfoss is 75 and growing with China

"Danfoss has made a major, long-term commitment to China and to its sustainable economic growth. We are proud to make China our second home market," said President of Danfoss China Mogens Terp Paulsen.

Business International

GM to axe plants in shift to small cars

General Motors is closing four truck and SUV plants in the United States, Canada and Mexico as surging fuel prices hasten a dramatic shift to smaller vehicles.

Truck drivers, fishermen protest over fuel prices

Dozens of lorries and taxis blocked a motorway leading into Paris's main financial district yesterday in a protest against high fuel prices.

Ryanair 'will stay in the black'

Ryanair Holdings Plc Chief Executive Officer Michael O'Leary predicted Europe's biggest discount airline will stay profitable this year as he increases ticket prices and baggage charges to make up for record oil costs.