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As of 7:25:00 AM EDT Fri, July 4, 2008
UBS WARNED of a potential small second-quarter net loss, but reassured investors that it wouldn't have to raise capital for a third time this year as tax benefits will mitigate the effect of fresh write-downs related to the mortgage crisis.  7:00 a.m.
A group of major investors stepped in to rescue a $793 million capital-raising effort by Bradford & Bingley, after U.S. buyout firm TPG pulled out of a deal to take a stake in the troubled U.K. mortgage lender.  4:57 a.m.
BHP Billiton reached an agreement with China's Baosteel on a rise in iron-ore prices, bringing to a close one of the longest and most heated rounds of annual negotiations for the key steelmaking material.  7:53 a.m.
European markets drifted lower in subdued trading as banks struggled to hold on to the previous day's gains and miners lost ground.  6:52 a.m.
Nine people were convicted of criminal charges in a major Austrian bank-fraud case linked to the collapse of commodities brokerage Refco.  7:25 a.m.
All Nippon Airways is considering whether it will end its reliance on Boeing for large aircraft and order superjumbo A380s from rival supplier Airbus.  5:42 a.m.
The ECB raised its key rate a quarter point to 4.25%, and the central bank's president said he had "no bias" about further increases while keeping his options open.
Paulson ended a four-day European trip, joining with U.K. Finance Minister Alistair Darling to warn that the near-term economic outlook remains difficult and the global inflation threat is serious.
Betancourt embraced her children for the first time in six years, saying the thought of them helped her stay alive during her time in captivity. The former Colombian presidential candidate was one of 15 hostages freed after being held by leftist FARC rebels.  6:21 a.m.
WPP raised its bid for market-research firm TNS, which plans to merge with Germany's GfK, to $2.15 billion.
The ECB raised its key rate a quarter point to 4.25%, and the central bank's president said he had "no bias" about further increases while keeping his options open.
 

 
Oil prices rose to a record $145.29 a barrel, as supply concerns and Mideast worries intensified and a gathering of oil executives in Madrid failed to cool the crisis.
 

 
Betancourt embraced her children for the first time in six years, saying the thought of them helped her stay alive during her time in captivity. The former Colombian presidential candidate was one of 15 hostages freed after being held by leftist FARC rebels.
 
Weekend Journal Europe
[Aosta photo]
Italy's Valle d'Aosta region is known among wine lovers mainly for small-production wines. But in recent years it has begun producing unusual new wines from grape varietals that have been saved from extinction. Photos
 

 
Heineken Set to Keep Shop
Heineken is borrowing a marketing technique from Disney, Apple and Nike to reach an elusive audience: young men. On Saturday it plans to open a shop in central Amsterdam selling Heineken-branded clothing, music, concert tickets and, of course, beer.
 
 

 

 
 
 
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