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Dead heat in race to be world's biggest carmaker

Wed, 23 Jan 2008 15:12:17 GMT

General Motors and Toyota were in a virtual dead heat as the world's biggest carmaker last year.

Buffett buys 3% of Swiss Re

Wed, 23 Jan 2008 15:12:15 GMT

Swiss Re shares surged in early trading on Wednesday after the world's largest reinsurance group said Warren Buffett's Berkshire Hathaway group had taken a 3 per cent stake as part of a broader business deal.

Europe down as rate-cut effect fades

Wed, 23 Jan 2008 15:11:54 GMT

European equity markets went into reverse on Wednesday as manufacturing stocks weakened after data raised fears of a slowdown in capital spending, erasing the previous sessions gains.

EU proposes sweeping moves to combat climate change

Wed, 23 Jan 2008 15:11:23 GMT

The European Commission on Wednesday proposed far-reaching measures to combat climate change, including national targets for the use of renewable energy sources and the obligatory purchase by companies of carbon dioxide emission permits.

ECB resiststo bow to pressure to cut rates

Wed, 23 Jan 2008 15:11:21 GMT

The European Central Bank has signalled that it will not bow easily to pressure for cuts in eurozone interest rates, even as fresh data showed economic growth had again lost momentum, especially in services.

Motorola slump lays out challenge for new CEO

Wed, 23 Jan 2008 15:10:56 GMT

Motorola, the struggling mobile phone maker, said its fourth quarter earnings had fallen 84 per cent as it lost market share to Apple's iPhone and products from Samsung, and forecast a loss in the next quarter.

Tiscali chief seeks financial respectability

Wed, 23 Jan 2008 15:10:25 GMT

Tommaso Pompei is seeking to give long-sought financial respectability to Tiscali, the European internet service provider.

US tax rebate to take six months to kick in

Wed, 23 Jan 2008 12:12:27 GMT

Any planned tax rebate as part of an economic stimulus package may not have a big impact on the US economy until Christmas, the director of the US's Congressional Budget Office said on Tuesday.

Tiscali boss expects to be targeted by rivals

Wed, 23 Jan 2008 12:10:22 GMT

Tiscali, the Milan-listed company that supplies broadband in the UK and Italy, expects its businesses to be bought up by rivals in the next two years, according to Tommaso Pompei, its chief executive.

Asian stocks rebound after Fed rate cut

Wed, 23 Jan 2008 11:42:06 GMT

Asian stocks rebounded on Wednesday after the US Federal Reserve slashed interest rates by 75 basis points - and hinted clearly at more cuts to come - in a bid to arrest the deterioration in the US economy and stem a wave of selling in world stock markets.

Liberal's tilt at Russian poll in doubt

Wed, 23 Jan 2008 11:41:14 GMT

Dmitry Medvedev, Russia's likely next president, portrayed himself as a modernising moderate as he launched his campaign on Tuesday for the March 2 poll.

US moves to ease defence trading curbs

Wed, 23 Jan 2008 11:12:30 GMT

The US administration on Tuesday announced export control reforms aimed at facilitating the trade of defence products and sensitive dual-use technologies with its allies.

Baltic-Polish nuclear plant faces hurdles

Wed, 23 Jan 2008 11:11:13 GMT

The Baltic states and Poland are struggling to settle the political, commercial and environmental problems involved in their joint plan for a €7bn ($10bn) nuclear power station, aimed at easing expected regional electricity shortages and reducing dependence on Russian energy.

Serbia backs Russia gas deal

Wed, 23 Jan 2008 10:41:10 GMT

Serbia's government on Tuesday approved a strategic deal for long-term gas supplies from Russia through a branch of the proposed South Stream pipeline.

Texas boosted by analogue products

Wed, 23 Jan 2008 10:40:47 GMT

Texas Instruments, the second-largest US chipmaker by sales after Intel, saw strength in its analogue and digital signal processing semiconductors in the fourth quarter, producing revenues in line with Wall Street expectations.