Industries

Inditex Reports Fourth-Quarter Net of $1.8 Billion, Beating Consensus Inditex SA, the world’s biggest clothing retailer, said fourth-quarter net income advanced 18 percent, beating analysts’ estimates, as international sales at the operator of Zara stores helped offset sluggish Spanish consumer spending.

Metro Profit Declines on Cost-Cutting Program Expenses and Eastern Europe Metro AG, Germany’s largest retailer, said profit fell 47 percent in the fourth quarter on expenses for a cost-cutting program and the weakness of eastern European currencies.

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Oil Rises for Second Day on Dollar's Drop, OPEC Signals Won't Boost Output Crude oil rose for a second day as the dollar’s decline buoyed investor demand and after OPEC ministers indicated they would refrain from raising production.

OPEC Ministers Poised to Keep Output Steady in Vienna With Oil Over $80 The Organization of Petroleum Exporting Countries, content with prices over $80 a barrel, has no need to change output at a meeting in Vienna later today, even with oil supplies exceeding consumption, ministers said.

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GMAC Said to Hire Citigroup, Goldman Sachs for TARP Payment, ResCap Sale GMAC Inc. hired Citigroup Inc., another bank controlled by the U.S. government, to explore how to repay bailout funds, according to a person briefed on the matter.

British Investment Banks' `Indian Summer' May Not Be Repeated, KPMG Says The “Indian summer” experienced by U.K. investment banks in 2009 was based on volatile markets and government stimulus, a combination unlikely to be repeated, according to accountancy firm KPMG.

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Health Bill Faces Delay as Democrats Struggle With Deficit-Cutting Targets Congressional Democrats, racing to finish work on an overhaul of the U.S. health system, are facing delays as they strive to meet deficit-cutting targets.

Cancer Cost More Than Doubled in 40-Year War as Deaths Declined 16 Percent The rising cost of cancer research and care, which helped reduce death rates by 16 percent over 40 years, is straining the U.S. health system and needs to be restrained, commentators said in a special edition of the Journal of the American Medical Association.

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Korea Life Insurance Rises on Debut After $1.6 Billion Initial Share Sale Korea Life Insurance Co. rose 7.9 percent on its first day of trading in Seoul after pricing the nation’s biggest initial public offering in four years at 25 percent below the top of its planned range.

Insurers' 2010 Natural-Disaster Costs May Hit $110 Billion, Swiss Re Says Natural disasters may cost insurers as much as $110 billion worldwide in 2010, five times more than last year when the U.S. escaped hurricane damage, Swiss Reinsurance Co. said.

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Dubai Property Market to Recover by the End of 2011, Dubai Pearl CEO Says Dubai’s property market will recover by the end of 2011 as mortgages become easier to obtain and more people move to the city, according to the developer of a $4 billion hotel and residential project.

Kerry Properties Profit Rises 44% on Valuation Gains in Hong Kong, China Kerry Properties Ltd., a Hong Kong- based builder controlled by the family of Malaysian billionaire Robert Kuok, said 2009 profit rose 44 percent as the city’s economic recovery boosted real estate values.

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Google China Fate May Be Decided This Month as Web Licenses Up for Review Google Inc.’s fate in China may be decided this month as Internet-service licenses come up for renewal amid growing speculation that a censorship dispute with the government will drive the U.S. company from the country.

Panasonic 3-D TVs Sell Out as U.S. Viewers Take `Avatar' Technology Home Panasonic Corp. said its 3-D TVs sold out in the U.S. in their first week, raising optimism the technology that helped “Avatar” break records at the box office will extend to living rooms and help boost profits.

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FedEx May Beat Estimates as Asia Air Shipments Signal `Ramp Up' in Economy FedEx Corp., the world’s largest cargo airline, may beat analysts’ earnings estimates tomorrow as growing demand for shipments in Asia signals the global economy is strengthening.

Toyota's Premium Pricing Power Evaporates in China After Gas Pedal Recall Drivers in China are no longer in a hurry to own Toyota Motor Corp.’s cars.

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