Business with Reuters - International Herald Tribune

Rupak De Chowdhuri/Reuters

Members of the Students Federation of India and the Democratic Youth Federation of India burned an effigy of Prime Minister Manmohan Singh on Wednesday during a protest in Siliguri against higher fuel prices.

India and Malaysia raise price of subsidized fuel

By THOMAS FULLER AND HEATHER TIMMONS

The moves follow similar price increases in Indonesia, Pakistan and Sri Lanka and are a recognition by governments that they can no longer shelter their populations from the global spike in energy prices.

United Airlines cuts employees and planes

United Airlines said Wednesday that it is cutting up to 1,100 more jobs, removing 100 fuel-guzzling airplanes from its fleet and slashing domestic capacity as it tries to cope with spiraling fuel prices.

High oil prices hit low-cost carriers especially hard

At European companies, know-how trumps nationality

By JOHN TAGLIABUE

More than a half-century after the first steps toward European economic union, European companies are finally breaking down the glass ceiling that reserved their top spots for a local.

OECD sees slower economic growth through next year

By MATTHEW SALTMARSH

The club of developed nations predicted that its members would avoid both recession and an inflationary spiral.

Union campaign against equity firms goes global

By MICHAEL J. DE LA MERCED

It started with faux billionaires in the Hamptons in New York State and a fat-cat tycoon (or at least an actor wearing a cat mask) in Washington. Now, a union-led campaign against wealthy private equity firms is going international.

MARKETS

Fears about banks weigh on European stocks

Bloomberg News

U.S. index futures also fell on speculation that banks may need more capital as losses increase, while lower oil and metals prices weighed on commodity producers.

Rating firms appear to be near a deal on changing practices

By JENNY ANDERSON AND VIKAS BAJAJ

Under fire for the high ratings they awarded to subprime mortgage securities, three large credit rating firms are close to announcing a broad deal with Andrew Cuomo, the New York State attorney general, to change some of their business practices.

Lehman being besieged by investor betting against it

By LOUISE STORY

For eight months now, a rabble-rousing hedge fund manager, has pilloried the venerable Lehman Brothers in an effort to drive down the bank's stock price.

Asian autos top U.S. sales in May

By NICK BUNKLEY

General Motors, Ford Motor and Chrysler combined for a record low market share of 44.4 percent in May, compared with 48.1 percent for 10 Asian brands, marking the first time the U.S. carmakers have ever been outsold at home.

Cost of oil is pushing gas-guzzling trucks toward extinction in the U.S.

By DAVID LEONHARDT

More Americans are deciding that towing capacity and the other benefits of pickup trucks and SUVs are not worth the costs, especially as the price of gasoline spirals out of control.

GM cuts mark end of SUV era

UN says solving food crisis could cost $30 billion

By ELISABETH ROSENTHAL AND ANDREW MARTIN

Some officials say prices for commodities like wheat harvested in India, above, are being lifted as investment money flows into American commodity markets, below.

Resolving the global food crisis could cost as much as $30 billion a year and wealthier nations are doing little to help the developing world, United Nations officials said.