On Friday, Ford Motor Co is poised to report its biggest annual profit in 13 years after an accounting change that signals the No. 2 U.S. automaker’s belief it can remain profitable.

The company will post a one-time gain of about $13 billion after it eliminates a tax reserve created in late 2006. This will push net income of the company to more than $20 billion, its best annual profit since 1998, when it earned more than $22 billion during the SUV boom.

“The quarter will shed light on the sustainability of, or potential for improvement in, North America automotive pretax profits,” Barclays Capital analyst Brian Johnson said in a research note.

Australian underwear manufacturer Pacific Brands recently disclosed that it is in preliminary talks with U.S. private equity giant KKR & Co after it received a buyout approach that a newspaper said could be worth $614 million, sending its shares up 15 percent.

Pacific Brands said it was evaluating the unsolicited offer for its entire issued capital.

“There is no certainty that these discussions will lead to any agreement being reached between the parties,” Pacific Brands said in a statement to the Australian stock exchange.

KKR had approached Pacific Brands, maker of Bonds underwear, Berlei bras, and Sheridan sheets, with a buyout approach before Christmas that could be worth about A$600 million ($614 million), according to the Australian Financial Review.

“KKR does not comment on any discussions in which it may be engaged,” a spokesman said.

On Saturday, German magazine Der Spiegel reported the International Monetary Fund (IMF) is losing confidence in ability of Greece to clean up its public finances and work off its mountain of debt.

The news weekly, citing an internal IMF memo, said IMF considers the present readjustment program of Greece as insufficient and is of the view that new measures would have to be taken if the country is to avoid default and meet targets agreed with creditors.

Der Spiegel, in its edition says the IMF had strong criticism for sluggish structural adjustment of Athens, especially regarding tax collection and state asset sales.

MF Global unloaded securities worth hundreds of millions of dollars to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions.

One of the sources said, MF Global did not immediately receive payment from its clearing firm and lender, JPMorgan Chase & Co (JPM.N).

The ex-employees said the sale of securities to Goldman occurred on October 27, just days before MF Global Holdings Ltd (MFGLQ.PK) filed for bankruptcy on October 31. The former employees said it is unclear what type of assets Goldman bought from MF Global, but the securities were worth hundreds of millions of dollars.

On Sunday, U.S. oil giant Exxon Mobil (XOM.N) said an arbitration panel awarded it $908 million over a contractual dispute with Venezuela, following the South American nation’s 2007 nationalization of its assets.

In 2007, Exxon Mobil had filed a claim with a World Bank arbitration tribunal seeking at least $7 billion in compensation for a heavy oil project that President Hugo Chavez nationalized in a broad wave of state takeovers. Venezuelan sources declined to specify the amount Venezuela was ordered to pay, but said they saw the decision as favorable to Caracas.

Sunderland players Lee Cattermole and Nicklas Bendtner, two Premier League stars, have been held after allegedly going on a car-wrecking spree.

The two were arrested after at least three vehicles were attacked close to St James Park where arch-rivals Newcastle United currently play.

The footballers were questioned on suspicion of causing criminal damage before being released on bail.

A spokesman for Northumbria Police said today: ‘Police can confirm that on Thursday December 15 two men aged 23 were arrested on suspicion of criminal damage.

‘If follows an investigation into damage caused to cars on Stowell Street in Newcastle city centre, which happened at about 10pm on Tuesday, December 6.’