European planemaker Airbus posted 1,341 net aircraft orders in 2007, trailing the 1,413 planes sold by Boeing in a record year at both companies, Airbus said yesterday.
Government incentives in Italy and France to buy greener cars propelled sales of Fiat and Renault in the final month of 2007, just enough for the Western European auto market to record its highest level in six years.
JPMorgan Chase & Co, the third-biggest US bank, said profit fell 34 percent, more than analysts estimated, after $1.3 billion of writedowns for subprime-mortgage investments.
Northern Rock Plc's "principal challenge" is to find a way to repay at least 25 billion pounds owed to the Bank of England, Chairman Bryan Sanderson said yesterday.
Deutsche Bank Chief Executive Josef Ackermann warned that the pain may not be over for the global banking sector, with more writedowns possible if the liquidity and credit crisis continues to hit valuations.
Citigroup Inc posted the biggest loss in the US bank's 196-year history as surging defaults on home loans forced it to write down the value of subprime mortgage investments by $18 billion.
EMI Group Plc, the music company bought last year by private-equity financier Guy Hands, will cut as many as 2,000 jobs after a slump in music sales led to a record loss.
Consumer electronics maker Toshiba Corp said it is slashing prices of its HD DVD format players by between 40 to 50 percent as major Hollywood studios move to embrace Sony Corp's Blu-ray format high definition DVDs.
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