INTERNATIONAL BRIEFING

BANKING

Britain's HBOS Plans Stock Issue

HBOS, the parent of the Bank of Scotland and mortgage lender Halifax, became the latest financial-services firm to seek more capital after losses from the U.S. subprime lending crisis. It said that it plans to seek about $8 billion from investors by issuing new shares of stock.

The group, Britain's sixth-largest bank by market capitalization and its No. 1 mortgage lender, said it expects economic conditions to become more difficult.

The company said it would book $5.6 billion in write-downs this year, up from $451 million in 2007.

AUTOMOTIVE

U.S. Downturn Hurts BMW, Daimler

Bayerische Motoren Werke and Daimler, the world's largest manufacturers of luxury cars, said first-quarter profits declined because of the slowdown in the U.S. market.

BMW's net income dropped 17 percent as a result of lower values for used cars in the United States and bad debts in its financing division. Daimler said its profit plunged 32 percent after its stake in former U.S. unit Chrysler dragged down earnings and North American truck sales declined.

The German firms said 2008 sales and profit would rise as they shift deliveries to Russia and China.

AVIATION

Airbus Reviewing A380 Deliveries

Airbus is conducting a "major review" of its delivery schedule for the delayed A380 superjumbo airliner, its chief executive said. Speaking at a company site in the United Arab Emirates, Thomas Enders acknowledged that the goal of delivering four A380s per month by 2010 would not be easy.

Airbus has previously said that it is committed to handing over 13 A380s in 2008, 25 in 2009 and 45 in 2010. It has delivered the first four of six superjumbos destined for Singapore Airlines.

The review is "standard practice," Enders said at the opening of a facility in Dubai. His comments were relayed by spokesman Stefan Schaffrath, who withdrew earlier remarks that Airbus is "confident more than ever" about the program, which he had attributed to Enders.

Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.