Altadis takeover takes its toll on Imperial earnings

Imperial Tobacco Group Plc reported a 45 percent drop in first-half profit yesterday on costs for buying Altadis SA and said it will sell stock worth 4.9 billion pounds to current investors to help fund the takeover.

Japanese central bankers keep key rate at 0.5 percent

The Bank of Japan kept interest rates on hold at the first meeting after slashing its growth estimate and shelving a two-year policy of seeking higher borrowing costs.

IN BRIEF (Page 21)

Business International

Facebook CEO stresses firm's independence

Facebook Inc founder and CEO Mark Zuckerberg reaffirmed his company's independent spirit yesterday, after a report the social networking site might be sold to software giant Microsoft, which is hunting for ways to beef up its Internet business.

Microsoft rejoins race for Yahoo

Microsoft Corp, the world's biggest software maker, revived the possibility of a deal with Yahoo Inc to challenge Google Inc after failing to agree on a merger.

Buffett begins European journey

Billionaire Warren Buffett yesterday met business owners in Frankfurt as he looks outside the United States for acquisitions to spur profit growth at his $200 billion Berkshire Hathaway Inc.

NEC, Nissan to build hybrid car battery plant

Nissan Motor Co, Japan's third- largest automaker, will build a factory with NEC Corp to make lithium-ion batteries in Japan for use in electric and gasoline-electric hybrid cars.

Kiwi no longer favorite bird as major investors sell

The New Zealand dollar, the best-performing currency in the past decade, is losing support from the world's biggest investors, who are convinced that interest rates and commodity prices will fall.

IN BRIEF (Page 21)

Life

Training day

Beijing's new $1.6 billion No 5 Metro subway line halted for 10 and 40 minutes on both directions on Friday because of "technical problems", which the subway company declined to reveal. Some passengers, who rely on the train to go to work, had to switch to buses. The company says the first year of operation is a "shakedown period" in which the line will be constantly improved.