What’s News —

Business & Finance

• Euro Zone Attracts More Foreign Capital

  The euro zone continued to attract foreign capital in December, despite its chronic problems with sovereign and bank debt.

• ECB Bank Lending Skyrockets

  Use of the European Central Bank's emergency lending facility skyrocketed, hitting its highest level in over 19 months. The high figure generally reflects acute liquidity problems at one or more banks.

  • Central Bank Watch

• Outlook for Food Prices: High

  The seeds of a sustained increase in food prices are about to be sown in Mississippi, Nebraska and other U.S. farm-belt states.

  • Commodities Watch

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  Spain Unbowed on Cajas

  Despite complaints from Spain's ailing savings banks that reform efforts are moving too swiftly, the Spanish government is standing firm in its push to quickly convert the local institutions into traditional banks.

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  BAE Profitable, Braces for Cuts

  BAE Systems reported full-year earnings that were largely in line with expectations, but cuts in defense spending in the U.S. and the U.K. continue to overshadow the company's prospects.

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  Charges Weigh on BNP Profit

  BNP Paribas' fourth-quarter net profit missed expectations as several charges dragged on otherwise strong retail operations and resilient investment banking.

• Nestlé's Profit Triples

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  ABB Plans Further Cost Cuts

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  Swiss Re Falls to Net Loss

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  U.K. Life Sale Hits AXA Profit

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  PPR Sees Strong Growth

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  Abu Dhabi Sets Oil Deal