Business - Page 6

Reuters - Wesfarmers Ltd. , battling for control of retailer Coles Group Ltd. in Australia's biggest takeover bid, reiterated that its A$19.7 billion ($16 billion) offer was compelling, but did not say if it would raise it.

Business

Reuters - Top Asian oil refiner Sinopec Corp. (0386.HK) beat forecasts with a more than two-fold jump in quarterly earnings as falling oil prices helped its refining arm turn around, and it flagged a 50 percent surge in first-half profit.

Reuters - World Bank President Paul Wolfowitz on Sunday dug in his heels over the promotion he approved for his girlfriend and said he intends to stay in his job, even as bank member governments voiced "great concern" the institution might not be able to function properly.

AP - Clusters of migrant workers mount the train's crowded carriages, leaving their families and filing across the border to work at jobs more plentiful and lucrative than at home.

Reuters - At least five international energy companies submitted bids on Sunday for a giant sour gas project in the United Arab Emirates that could be have a price tag as high as $10 billion.

Reuters - Germany's Celesio AG (CLSGn.DE), owner of the Lloyds pharmacy chain, is trying to team up with U.S. private equity firm Kohlberg Kravis Roberts & Co. on its 10 billion pounds ($20 billion) bid for Alliance Boots Plc , according to a report on Sunday.

AFP - Globalisation for French presidential candidates is all about factories closing and moving to China. They don't like to mention that Paris-based Carrefour, the world's second largest retailer after Wal-Mart, is making a killing there, and that France is one of the richest countries in the world thanks to free trade.

Reuters - The fate of World Bank President Paul Wolfowitz overshadowed meetings of global finance chiefs on Saturday, as Britain said his actions had damaged the bank and critics stepped up calls for him to quit.

Business

Reuters - Finance chiefs from the world's rich nations meeting on Friday were expected to offer assurances that the global economy can withstand a U.S. slowdown while keeping a watchful eye on currency volatility.

Reuters - DaimlerChrysler (DCXGn.DE) Chief Executive Dieter Zetsche wants to keep a minority holding in U.S. automaker Chrysler and only sell a majority stake in the business, Der Spiegel magazine reported.

Reuters - Google Inc. said on Friday it would pay $3.1 billion for Web ad supplier DoubleClick Inc., its biggest acquisition, accelerating a push into the graphic ad market led by Yahoo Inc. .

AP - Finance officials from the world's wealthiest countries expressed confidence Friday that the global economy will experience strong growth despite risks.

Business

Reuters - Google Inc. said on Friday it would buy Web advertising tools provider DoubleClick Inc. for $3.1 billion, its biggest acquisition, to accelerate its push into the graphic ad market now dominated by Yahoo Inc. .

AP - Wal-Mart's board of directors should open an independent investigation of claims the retailer spied on shareholders, suppliers and others, a large state investor said Friday.

Reuters - Lehman Brothers Holdings Inc. was sued by an shareholder who said the investment bank manipulated stock option grants from 1998 to 2001 to secure a "huge financial windfall" for Chief Executive Richard Fuld and other top officials. More Info...  

Reuters - The U.S. trade deficit narrowed unexpectedly in February in a positive sign for the economy, but rising gasoline prices and troubles in the housing market knocked consumer sentiment to its lowest in eight months this month, according to reports on Friday.

AP - When a group of Take-Two Interactive Software Inc. shareholders staged a board coup recently, an unlikely participant was among those leading the charge: A mutual fund. More Info...  

Reuters - Magna International Inc. (MGa.TO) confirmed on Friday its involvement in a possible deal for DaimlerChrysler's (DCXGn.DE) Chrysler division.

Reuters - General Electric Co. reported higher first-quarter earnings on Friday, with strong demand for electricity-generating turbines, jet engines and other heavy equipment driving its infrastructure business.

FT.com - London equities moved higher in midday trade on Friday, supported by oil majors after an overnight spike in crude prices on concern of gasoline supply shortages in the US. More Info...