Business with Reuters - International Herald Tribune

Kevork Djansezian/The Associated Press

A aalesman putting the price on a GE microwave in the appliances section of Howard's Appliance and Big-Screen Superstore in San Gabriel, California.

GE posts surprise drop in profit, further denting confidence in U.S. economy

Bloomberg News, IHT, Reuters, AP

The conglomerate's poor results for the first quarter fell far short of expectations, stunning investors.

Turmoil deepens in U.S. air industry

By GRAHAM BOWLEY AND MICHELINE MAYNARD

The fourth U.S. low-cost carrier in less than a month filed for bankruptcy Friday, and American Airlines canceled nearly 600 more domestic flights.

Soros sounds the alarm again on world economy

By LOUISE STORY

George Soros at the InterAction 2007 forum in Washington in April 2007.

George Soros has always been a controversial figure. But he is becoming more so with a new, dire forecast about the dangers of the current economic downturn.

South Korean priests push Samsung corruption inquiry

By CHOE SANG-HUN

The effort by the Catholic Priests' Association for Justice appeared to bear fruit Friday as Samsung's chairman, Lee Kun Hee, was questioned for a second time by an independent counsel.

Video: Inquiry haunts largest Korean company

Mizuho Financial Group cuts earnings forecast on subprime mortgage losses

Reuters

Japan's No. 2 bank cut the estimate for the third time for the year that just ended, hurt by $3.9 billion in subprime mortgage-related losses at its brokerage unit.

SPOTLIGHT

Saab chief banks on the Gripen jet

By MATTHEW SALTMARSH

Ake Svensson, the chief executive of Saab.

Ake Svensson, chief executive of the Swedish aviation company and military contractor, hopes the Gripen fighter will take his company higher.

Analysts expect limited action from Group of 7 finance meeting

Bloomberg News

Finance chiefs from the Group of 7 industrialized nations, meeting amid of growing economic pain from the credit crisis, may struggle to agree on how much coordinated action is needed to alleviate it.

Bank of England cuts rates, as ECB holds steady

TomTom's purchase of Tele Atlas seen in jeopardy

TomTom offered European Union antitrust regulators no new remedies to resolve "serious doubts" over its planned €2.9 billion purchase of the digital map maker Tele Atlas, whose shares plummeted Friday.

Adidas claims dominion over the stripe

By DOREEN CARVAJAL

Carlos Tenorio, a soccer player for Ecuador, posing with the three stripes.

The European high court rebuffed a bid by top international clothing manufacturers to employ emblems similar to the distinctive three-stripe logo of the German sporting goods brand.

YOUR MONEY

Even in a market downturn, investment gems can be found

By BARBARA WALL

While the risk of further volatility remains in the short term, many portfolio managers are making the most of the sell-off, focusing on companies with strong earnings outlooks.

Brighter political prospects lift Taiwan investment funds

U.S. automakers made to go 'green'

By BRIAN WINGFIELD / Forbes.com

Hobbled by declining sales, over-reliant on gas-guzzling trucks and SUVs for profits, U.S. automakers face a new law mandating a 40% increase in U.S. vehicle fuel economy standards by 2020.