World Business News

Volkswagen, the world's second-largest carmaker, posted an unexpected drop in fourth-quarter operating profit as its stock of unsold vehicles nearly doubled, ending an otherwise bumper year on a downbeat note.

Oil prices rose in Asian trade on Monday on prospects for stronger US economic growth and jitters sparked by sabre-rattling over crude producer Iran's nuclear programme, analysts said.

Online photo service Shutterfly has agreed to buy the online photo service of bankrupt photography company Eastman Kodak, the start of Kodak's efforts to reorganize as a smaller but profitable company.

Retail sales across the eurozone rose unexpectedly in January, figures show, but a separate survey has indicated economic activity remains weak.