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BMW Drives to Record Profits in 2011

German top-of-the-range carmaker BMW said Thursday it powered ahead to new records in unit sales, revenues and profits in 2011 and expected to continue to grow again this year.

BMW said in a statement it booked net profit of 4.907 billion euros ($6.5 billion) in 2011, an increase of 51.3 percent year-on-year, and pre-tax profit rose by 52.1 percent to 7.383 billion euros.

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Facebook Secures $8 Billion Ahead of Public Offer

Facebook has secured $8 billion ahead of the social network's eagerly-anticipated initial public offering (IPO), according to documents provided to U.S. regulators.

The company said it had secured a $5 billion revolving line of credit over three years from a bank consortium including Morgan Stanley, JP Morgan, Goldman Sachs and Bank of America-Merrill Lynch, according to documents filed Wednesday with the Securities and Exchange Commission (SEC).

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What Crisis? Swiss Watchmakers Eye Record 2012

Swiss watchmakers said Wednesday that they are expecting demand in 2012 to beat that of 2011, when exports hit a record, even though growth would be less pronounced than last year.

"If exports reach between 20 and 25 billion francs in 2012, we would be satisfied," said Francois Thiebaud, who heads the Swiss exhibitors' committee at Baselworld, the world's biggest watch fair.

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European Stocks, Euro Recover after Heavy Falls

European stocks and the euro rebounded on Wednesday following a day of heavy falls on concern about global economic growth and a bond swap to cut Greek debt and avert default, traders said.

London's FTSE 100 index of leading shares gained 0.19 percent to 5,776.73 points in mid-morning deals, Frankfurt's DAX 30 won 0.33 percent to 6,655.19 points and in Paris the CAC 40 grew 0.75 percent to 3,387.59.

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Carlos Slim to Invest $4.7 Billion in Mexico

The Carso Group of the Mexican tycoon of Lebanese origin Carlos Slim, who is considered to be the world's richest man, said Tuesday it plans to invest nearly $4.7 billion in Mexico this year.

"During 2012, our investments in Mexico will be $4.66 billion, generating more than 100,000 jobs," according to the conglomerate. The projects include telecoms, construction, entertainment and health companies.

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Adidas Sees Record Profits in 2012 Thanks to Olympics

German sportswear maker adidas said Wednesday strong demand for its brand pushed it to record earnings in 2011 and it hoped to beat those again this year on the back of the 2012 Olympics.

Adidas said in a statement its net profit rose by 18 percent to 671 million euros ($881 million) last year, with earnings per share hitting a record high of 3.20 euros.

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Eurozone in 'Mild Recession': EU Commissioner

The Eurozone is currently going through a mild recession, the European Union's Economic Affairs Commissioner Olli Rehn said on Tuesday.

"The euro area is currently in a mild recession," he said.

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European Stocks Slide After More Losses in Asia

Europe's main stock markets fell further on Tuesday, after fresh losses in Asia, as investors continued to worry about China's economic outlook and the Greek debt crisis, dealers said.

In morning deals, London's FTSE 100 index of leading shares dipped 0.88 percent to 5,822.78 points, Frankfurt's DAX 30 slid 1.34 percent to 6,774.20 points and the Paris CAC 40 lost 1.27 percent to 3,443.35 points.

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Nissan to Build New Hatchback Car in Britain

Japanese auto giant Nissan said on Tuesday that it will build a new hatchback compact car in Britain, in a £125-million investment that will create 2,000 jobs.

The new vehicle will be built at Nissan's Sunderland plant from mid-2013 in a project which will also be supported by a government grant of £9.3 million, the automaker said in a statement.

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India's Tata Motors Bids for Saab

India's Tata Motors has placed a $350 million bid to buy bankrupt Swedish car maker Saab Automobile, a newspaper report said Tuesday.

"Tata's global acquisition team has been in negotiations with Saab and private equity players for a prospective acquisition by its Jaguar-Land Rover unit," the Financial Express newspaper reported, quoting an unnamed source.

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