Toll Brothers suffers second straight loss

Toll Brothers Inc, the largest US luxury homebuilder, reported its biggest quarterly loss in 22 years as the worst housing recession in more than two decades forced the company to write down the value of developments.

IN BRIEF (Page 17)

Strong year sees StanChart earnings increase

Standard Chartered beat forecasts with a 27 percent rise in 2007 profit and said it was set for another strong year as Asian markets were well placed to cope with a US economic downturn, sending its shares higher.

Sarkozy hits out at bank chief

French President Nicolas Sarkozy said in a newspaper interview yesterday that it was "not normal" for the head of French bank Societe Generale to shirk his responsibility for SocGen's trading scandal.

Chicago wheat surpasses $12 mark

Chicago wheat prices rose the most in more than five years, breaching $12 a bushel for the first time as investors poured money into agricultural commodities on signs that global crop production isn't keeping pace with demand.

Subprime takes toll on retailer

Home Depot Inc, the world's largest home-improvement retailer, said fourth-quarter profit fell and forecast earnings below analysts' estimates after the deepest housing slump in a quarter century showed no signs of letting up.

Business International

Sales hike helps Puma to pick up profit pace

Puma AG, the sporting-goods maker controlled by PPR SA, said fourth-quarter profit rose 17 percent after new products fueled sales growth in Europe and Asia.

IN BRIEF (Page 17)

Business International

Investors losing patience with Yahoo CEO Yang

Darren Bagwell, who helps manage $60 billion at Thrivent Asset Management, is frustrated with Yahoo Inc Chief Executive Officer Jerry Yang, the man he says is standing in the way of a payout from Microsoft Corp.

Microsoft to pull out of HD DVDs

Microsoft Corp plans to stop making HD DVD players and cut the price of existing supplies by more than half after the leading promoter of the high-definition video format conceded defeat to Sony Corp's Blu-ray last week.