COMPANIES

Countrywide Financial Corp, the largest U.S. mortgage lender, said on Thursday that it had lined up $12 billion of secured financing to help cope with a housing slowdown that has reduced loan demand and will lead to widespread layoffs.

Budget airline Ryanair said on Thursday it was ready to launch 80 routes to two Milan airports, stepping in as struggling Alitalia cuts back in Italy's industrial heartland.

Rupert Murdoch, the world's most high-profile media mogul, stopped by The Wall Street Journal newsroom on Wednesday for the first time since his News Corp. sealed a $5.6 billion (2.8 billion pound) deal to buy publisher Dow Jones & Co.

HSBC Holdings Plc has paid around $254 million for 10 percent of Bao Viet to become the sole foreign investor in Vietnam's largest insurance firm, officials from the Vietnamese company said on Thursday.

The Malaysia unit of Asia-focused lender Standard Chartered Bank Plc hopes to apply for an Islamic banking license in the country within a year, it said on Thursday.

The Bank of England made on Thursday its biggest concession yet to banks caught up in the credit crisis, giving them greater flexibility on how much cash they can borrow without penalty to manage daily cashflow.

First Horizon National Corp, the largest bank in Tennessee, said on Wednesday it plans to eliminate at least 1,500 jobs by the middle of next year as it slashes its mortgage sales force and closes branches.

State Bank of India, the country's biggest bank, plans to raise at least 100 billion rupees ($2.5 billion) in a share sale before the end of the year, Chairman O.P. Bhatt said on Wednesday.

Countrywide Financial Corp, the largest U.S. mortgage lender, said on Thursday its mortgage fundings slid 17 percent in August from a year earlier to $34 billion on the housing slowdown and credit tightening in the mortgage market.

Singapore state investor Temasek has pulled out of the running to buy Nasdaq's 31 percent stake in the London Stock Exchange, the Daily Telegraph reported on Thursday.

Foreign companies that have poured billions of dollars into Chinese stocks are not looking to bail out, despite a decision by two major U.S. firms to cash in and realize huge profits from their investments.

Telecoms equipment maker Alcatel-Lucent cut its full-year revenue forecast on Thursday, sending its shares down by nearly 10 percent and adding further pressures to the recently merged group.

All Nippon Airways Co. (ANA) said on Thursday it had suspended all flights using 14 Q400 aircraft made by Canada's Bombardier Inc after the Canadian government said the craft must be inspected.

Lamborghini Built only 20 of its latest road rocket.

Wal-Mart is getting rid of its well known tag line, and replacing it with a new one today as it moves ahead with new advertising after a tough year where the retailer's profit dipped.

Cellular phones do not pose short-term health risks, but it remains too soon to say whether they can cause brain cancer or whether children face greater risks than adults, British scientists said on Wednesday.

Nomura Holdings Inc, Japan's largest broker, said on Wednesday it would join hands with Norinchukin Bank in establishing a company which would gather pension money to invest in private equity funds.

Top South Korean retail bank Kookmin on Wednesday reaffirmed its intention to buy Korea Exchange Bank (KEB), even though its smaller domestic rival is subject to a bid from UK-based HSBC.

Japanese drug maker Astellas Pharma Inc said on Wednesday it would begin mid-stage trials of a new drug candidate to help prevent organ rejection in kidney transplants.

Nasdaq Chief Executive Robert Greifeld said on Wednesday the unvarying response from OMX shareholders has been that they prefer its bid to a rival higher cash bid from Borse Dubai.

Many less creditworthy borrowers may lose their homes when interest rates on a flood of adjustable-rate subprime mortgages reset next month.

U.S. investor Warren Buffett's Berkshire Hathaway Inc continued to shed its stake in top Chinese oil producer PetroChina Inc, selling about 92.66 million shares in late August for US$136 million, according to a regulatory filing in Hong Kong.

Reducing emissions and raising fuel efficiency are the magic words at the Frankfurt International Motor show (IAA) as manufacturers and suppliers go all out to out-do each other -- or at least out-talk each other.

NTT DoCoMo Inc, Japan's biggest mobile phone carrier, said it may restructure its regional sales units, as it battles a price war against aggressive rivals seeking to grab market share.

Japanese venture capital firm SBI Holdings Inc and Sumitomo Trust & Banking Co Ltd said they would launch an Internet bank this month, joining a crowded race to manage Japan's $13 trillion in household financial assets.

Oil explorer Cairn Energy said its Indian subsidiary had received a key approval for a pipeline critical to exploiting its Rajasthan fields but still awaits full government clearance for the plan.

Chinese machinery maker Sany Heavy Industry Co will sign a memorandum of understanding with the U.S. state of Georgia on Wednesday to build a $60 million plant, a source familiar with the situation said on Tuesday.

Toyota Motor Co President Katsuaki Watanabe said on Tuesday he expected a slight decline in the U.S. auto market in 2007 to around 16.3 million units.

Toyota Motor Corp expects its European sales to grow five to 10 percent in 2009, after a 5 percent rise forecast for next year, a top executive of the automaker's regional operations said on Tuesday.