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GM chief promises cash for new-look Opel

General Motors has promised a more independent Opel and vowed to support its European unit with fresh money as the US carmaker tried to calm the fury sparked by last week's decision to keep the unit.

updated Wed Nov 11 2009 07:37:01

GM chief promises cash for new-look Opel

General Motors has promised a more independent Opel and vowed to support its European unit with fresh money as the US carmaker tried to calm the fury sparked by last week's decision to keep the unit.

updated Wed Nov 11 2009 06:52:30

This week on Marketplace Middle East

In focus: From sand to silicon

updated Wed Nov 11 2009 06:32:59

Energy body rejects whistleblower allegations of oil cover up

The International Energy Agency has rejected reported allegations from a whistleblower that world oil reserves have been exaggerated to avoid panic buying in the oil market.

updated Wed Nov 11 2009 03:00:51

China's recovery accelerates

China's economic recovery accelerated in October with industrial output increasing at the fastest rate since March of last year, while retail sales also grew strongly.

updated Wed Nov 11 2009 01:33:16

Chinese credit card debt mounts

The world economy is placing a bet on its future with China, but some Chinese are placing bets on their future with plastic.

updated Tue Nov 10 2009 15:36:04

Chinese cash inflates Hong Kong property prices

The most coveted property on Hong Kong island is called "The Peak," overlooking the city's stunning Victoria Harbor.

updated Tue Nov 10 2009 13:37:57

GM's Europe chief to quit after Opel U-turn

The president of General Motors Europe, Carl Peter Forster, plans to resign in the wake of GM's decision this week not to sell its European wing, a source told CNN on Friday.

updated Tue Nov 10 2009 10:43:32

Leading up: How to manage your boss

These days there's no such thing as a safe job, but one way to improve your chances of staying employed is by "managing up," experts say.

updated Tue Nov 10 2009 09:49:57

Lloyds announces 5,000 job cuts

Lloyds Banking Group has announced 5,000 job cuts as the government-backed bank moves to integrate its wide-ranging businesses.

updated Tue Nov 10 2009 07:29:34

Me 2.0: Branding yourself online

The concept of personal branding has been around for more than a decade, but the Internet and social networking have made it easier than ever to sell brand "you."

updated Tue Nov 10 2009 07:25:58

Strollers recalled over finger amputation alert

Close to one million strollers have been recalled by their manufacturer following reports at least 12 babies or toddlers had their fingers amputated after they were caught in the hinges.

updated Tue Nov 10 2009 06:58:27

UK banks Barclays, HSBC upbeat on bad loans

Barclays and HSBC both reported good news on bad loans on Tuesday as their investment banking arms continued to drive growth.

updated Tue Nov 10 2009 02:56:05

Editor of China's Caijing quits

The editor of China's most influential independent news magazine stepped down on Monday, raising concerns that a freer press might be on the retreat.

updated Tue Nov 10 2009 00:01:09

Hong Kong's 'celebrity tutors' turn millionaires

Dressed in Louis Vuitton from head to toe with the exception of a Gucci belt, Richard Eng stands out in his neighborhood in Hong Kong's New Territories. When we arrive at his home, the 45 year old father of one warmly welcomes us. His manners are as impeccable as the hairstyle and clothes that he proudly wears. But it's not the chic and manicured man standing in front of us that's caught our attention -- but the bright yellow Lamborghini parked in his driveway.

updated Mon Nov 09 2009 09:42:27

Cadbury rejects Kraft's $16.5 billion bid

Cadbury on Monday rejected a hostile cash and shares bid from Kraft that valued the UK confectionery group at £9.8 billion ($16.5 billion) or 717p a share, after the U.S. foods group formalized the terms of an indicative offer it made two months ago.

updated Mon Nov 09 2009 09:18:31

Going to the virtual office in Second Life

As travel budgets are squeezed and slashed in the recession, companies are increasingly seeking innovative ways of bringing employees together for conferences and meetings remotely.

updated Mon Nov 09 2009 08:59:13

Axa Asia Pacific rejects $10B offer

Australia's AMP has teamed up with French rival Axa to engineer an A$11bn US$10.2bn bid for Axa Asia Pacific, the Australian listed asset manager, in one of the largest takeover offers in the financial services sector since the onset of the financial crisis.

updated Mon Nov 09 2009 08:12:06

Cadbury expected to receive hostile bid

The board of Cadbury, the UK food group, is preparing to meet on Monday amid expectations that Kraft will go hostile with its takeover offer.

updated Mon Nov 09 2009 02:53:10

India's bustling capital fights for space, work

It's a city jostling for space -- and work.

updated Mon Nov 09 2009 01:43:34

UK change of heart on banking tax plan

Gordon Brown, the British prime minister, rapidly backpedaled from his proposal for a financial transactions tax on Sunday after a chorus of criticism of his plan set out in a speech on Saturday to a meeting of global finance ministers.

updated Mon Nov 09 2009 01:28:29

Singh commits India to financial reform

Manmohan Singh, India's prime minister, on Sunday sought to override divisions in his ruling coalition by pledging to fulfil a deep financial reform program in Asia's third-largest economy.

updated Sun Nov 08 2009 10:40:52

Plan to create fund for bailouts hits hurdles

Key players in the Group of 20 refused to support a plan create an insurance fund to pay for bailouts if governments have to step in again to save giant businesses on the brink of collapse.

updated Sat Nov 07 2009 11:52:53

British premier urges greater responsibility from banks

British Prime Minister Gordon Brown told a meeting of G-20 ministers in his home region in Scotland Saturday that the public must be protected from the failure of the banking system in future.

updated Fri Nov 06 2009 09:56:27

BA reports record loss as strike looms

British Airways reported a record pre-tax loss Friday of more than $485 million, another setback for the airline as it faces the threat of strikes over the Christmas period.

updated Fri Nov 06 2009 08:51:36

This week on Marketplace Middle East

In Focus -- End of cheap oil?

updated Fri Nov 06 2009 07:13:59

Opel workers strike after GM abandons sale

Thousands of Opel workers went on strike in Germany on Thursday in protest at the decision by U.S. parent General Motors to abandon the sale of the automaker.

updated Fri Nov 06 2009 02:15:07

Does APEC matter anymore?

As political and business leaders representing more than half of the world's economic output start to gather in Singapore for the weeklong annual summit of the Asia-Pacific Economic Cooperation, a question looms: Does APEC matter?

updated Thu Nov 05 2009 08:31:39

Bank pumps $41B more into UK economy

The Bank of England's monetary policy committee voted on Thursday to expand its vast program to pump cash into the UK economy by £25bn ($41bn), in a sign that it remains worried about the outlook in spite of incipient signs of recovery.

updated Thu Nov 05 2009 05:25:38

Union seeks injunction against British Airways

Union officials were going to court Thursday in London to try to stop British Airways from imposing contractual changes on its 14,000-member cabin crew.

updated Thu Nov 05 2009 04:02:49

Toyota scales back loss forecast

Toyota Motor scaled back its loss forecast for the year to next March on Thursday, reflecting an aggressive cost-cutting drive and improved sales of some vehicles -- particularly low-emission cars such as its Prius hybrid, which have been made more affordable by government subsidies.

updated Wed Nov 04 2009 20:56:53

GM: Opel job cuts could hit 10,000

The restructuring plan of Opel by automobile giant General Motors would include cuts of as many as 10,000 jobs at the European subsidiary.

updated Wed Nov 04 2009 01:09:22

Toyota set to quit Formula One

Toyota Motor has decided to follow Honda and BMW out of Formula One racing to save costs as the Japanese carmaker braces for its second straight annual loss, a person with knowledge of the situation said on Wednesday.

updated Tue Nov 03 2009 21:11:58

Buffett bets $26bn on U.S.

Warren Buffett on Tuesday struck the biggest deal of his life with the $26.6bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an "all-in wager" on America's economic future.

updated Tue Nov 03 2009 20:54:17

GM pulls out of Opel sale

GM has abandoned its planned sale of Opel to Canada's Magna and Russia's Sberbank . The surprise move will be an embarrassment for the German government which has expended a lot of political capital on the controversial deal.

updated Tue Nov 03 2009 11:13:53

How to tap into growing overseas job market

Adventurous job seekers may have their sight sets on more favorable job markets in foreign countries, but there's more to working abroad than just buying a plane ticket to the nearest country with a growing economy.

updated Tue Nov 03 2009 07:52:58

Lloyds and RBS unveil fundraising moves

Lloyds Banking Group and Royal Bank of Scotland on Tuesday announced that they were raising £54.5 billion ($88 billion) in moves agreed with the UK government and the European Commission.

updated Tue Nov 03 2009 00:25:46

Australia raises rates to 3.5%

Australia's central bank on Tuesday raised interest rates for the second time in just over a month as evidence mounts the nation's economic recovery is building momentum.

updated Mon Nov 02 2009 23:16:01

Stronger signs of global recovery

Signs of recovery after a torrid year reverberated around the world on Monday as manufacturers reported rising output and improved employment prospects in the US, Europe and Asia.

updated Mon Nov 02 2009 13:13:56

RBS considers further assets sale

Royal Bank of Scotland on Monday said it was considering further asset sales "not initially contemplated", as part of the talks with the government aimed at breaking free from a state-backed asset insurance scheme.

updated Mon Nov 02 2009 07:27:16

China, Russia agree multi-billion dollar trade deals

Russia's Prime Minister Vladimir Putin held talks with Chinese counterpart Wen Jiabao in Beijing Tuesday, as the two countries agreed to bilateral economic and trade deals worth $4 billion, Chinese state media reported.

updated Mon Nov 02 2009 07:26:21

Dubai skyscraper symbol of S. Korea's global heights

Standing in the shadow of the Burj Dubai Kye Ho Kim of Samsung Construction rattles off the list of records the building will break.

updated Mon Nov 02 2009 07:24:50

China only trails U.S. in billionaires

China ranks second only to the United States in the number of billionaires, according to an annual report of the 1,000 richest people in the country.

updated Mon Nov 02 2009 07:21:16

Japan's jobless rate declines

Japan's unemployment rate fell to 5.3 percent in September, the government reported on Friday.

updated Mon Nov 02 2009 06:34:46

Business and political leaders gather for APEC

The political and economic elite of countries that account for more than half the world's GDP are gathering this week in Singapore for the 20th anniversary of the Asia-Pacific Economic Cooperation.

updated Mon Nov 02 2009 00:45:00

Use toilet before boarding, Japan airline asks

To offset carbon dioxide, a Japanese airline is asking its passengers to go to the toilet before boarding.

updated Sun Nov 01 2009 22:45:11

Terminator franchise to be auctioned off

The rights to the Terminator film franchise will be auctioned this month in a deal that will test Hollywood intellectual property valuations at a time when film industry profits are under pressure from falling DVD sales.

updated Sat Oct 31 2009 22:20:29

Book about bankers who 'broke the world' wins top title

A book about the 1929 Great Depression was Thursday named the business book of the year.

updated Fri Oct 30 2009 12:00:40

35 million letters delayed in UK post strike

Some 35 million pieces of mail have been delayed by this week's British postal strikes, Royal Mail said Friday.

updated Fri Oct 30 2009 10:42:28

Me 2.0: Using the Internet to brand yourself

The concept of personal branding has been around for more than a decade, but the Internet and social networking have made it easier than ever to sell brand "you."

updated Fri Oct 30 2009 09:03:20

Amazon's Kindle e-reader to go international

Amazon said it would begin selling an international version of its popular e-reader that will work in more than 100 countries on October 19.

updated Thu Oct 29 2009 23:04:08

Big Macs off menu as Iceland's economic crisis bites

Iceland is losing its only three McDonald's restaurants as a result of the poor economic situation in the country.

updated Thu Oct 29 2009 21:12:41

China and U.S. move to defuse trade row

China and the US resolved several thorny trade disputes on Thursday even as Beijing confirmed it was investigating potential dumping of US-made cars in the Chinese market.

updated Thu Oct 29 2009 19:45:08

Reports: Japan jobless rate declines

Japan's unemployment rate fell to 5.3 percent in September, the government reported on Friday, according to Kyodo news Service.

updated Thu Oct 29 2009 15:25:47

UK hit by second wave of postal strikes

Postal workers in Britain began a second round of strikes Thursday, disrupting deliveries across the country and deepening concern about mail services over the Christmas season.

updated Thu Oct 29 2009 10:40:40

Shell shake-up to shed 5,000 jobs

Royal Dutch Shell said on Thursday that a total of 5,000 staff would be leaving the Anglo-Dutch oil and gas group as part of a restructuring begun earlier this year.

updated Thu Oct 29 2009 02:28:53

China to investigate U.S. car subsidies

China is preparing to launch a trade investigation into whether US carmakers are being unfairly subsidised by the US government, according to people familiar with the matter.

updated Wed Oct 28 2009 13:31:14

Versace to cut 25 percent of workforce

Fashion house Gianni Versace will cut 25 percent of its global workforce by the middle of next year as part of cost-saving measures, a spokeswoman told CNN on Wednesday.

updated Tue Oct 27 2009 22:18:56

Tele2 in a hole over 'meteor' publicity stunt

An elaborate publicity stunt by a Swedish mobile phone company involving a faked meteorite strike in a Latvian meadow has provided a new case study on how a marketing campaign can backfire.

updated Tue Oct 27 2009 07:28:33

BP lifts cost-cutting target by $1bn

BP, Europe's second-biggest oil company, said on Tuesday that its cost-cutting programme would yield $1bn (£610m) more in savings this year than it had been expecting.

updated Mon Oct 26 2009 23:22:30

South Korean growth at seven-year high

Rising Chinese demand helped drive South Korea's economy to its fastest growth in seven years in the third quarter, underscoring how Asia is leading the global economy and trade out of the worldwide downturn.

updated Mon Oct 26 2009 12:39:14

Analyst: King wrong over 'break up banks' call

Bank of England Governor Mervyn King this week launched a scathing attack on Britain's banking sector, calling for a break-up of behemoth financial institutions that have taken billions of public money to stay afloat.

updated Mon Oct 26 2009 12:37:25

Figures show UK still in recession

Britain's gross domestic product suffered another decline in the third quarter of 2009, figures showed Friday, meaning the country remains mired in recession.

updated Sat Oct 24 2009 10:56:21

Interning from your sofa becomes virtual reality

Technologies that let employees work remotely have given rise to a growing phenomenon -- virtual internships.

updated Fri Oct 23 2009 07:52:26

Figures show UK still in recession

Britain's gross domestic product suffered another decline in the third quarter of 2009, figures showed Friday, meaning the country remains mired in recession.

updated Thu Oct 22 2009 21:14:08

China's booming consumer demand

Anyone scanning recent business headlines in China would not recognise the country where people supposedly save and never spend. In September, China Mobile's customer base crossed the half billion mark -- a powerful symbol of the awesome size of the Chinese consumer market.

updated Thu Oct 22 2009 10:22:59

China's GDP grows nearly 9 percent last quarter

China's GDP increased 8.9 percent for the third quarter, moving closer toward the goal of 8 percent growth for the year.

updated Wed Oct 21 2009 23:23:39

Top China banker warns on asset bubbles

China needs an "urgent" tightening of monetary policy to prevent the huge stimulus measures introduced this year from inflating stock and property bubbles, one of the country's leading bankers has warned.

updated Wed Oct 21 2009 12:54:19

Analyst: King wrong over 'break up banks' call

Bank of England Governor Mervyn King this week launched a scathing attack on Britain's banking sector, calling for a break-up of behemoth financial institutions that have taken billions of public money to stay afloat.

updated Wed Oct 21 2009 07:01:38

Interning from your sofa becomes virtual reality

Technologies that let employees work remotely have given rise to a growing phenomenon -- virtual internships.

updated Wed Oct 21 2009 01:09:05

BHP points to signs of broad global recovery

BHP Billiton on Wednesday added its voice to tentative signs of a more broad-based global recovery when the Anglo-Australian mining group reported record iron ore production in the three months ended September.

updated Wed Oct 21 2009 00:03:45

Sun blames Brussels as 3,000 jobs are axed

Sun Microsystems on Tuesday announced plans to slash 3,000 jobs over the next year, putting the move down to the delay in getting European Commission clearance for its agreed $7bn acquisition by Oracle.

updated Tue Oct 20 2009 23:37:26

Apple leaps ahead with 47 percent profits surge

Apple profits jumped 47 percent on surging iPhone and Macintosh computer sales in the latest quarter, capping a remarkable boom year for a company whose rivals were lucky to tread water.

updated Mon Oct 19 2009 23:14:49

Bernanke warns on imbalance risks with Asia

Ben Bernanke said on Monday that it was "extraordinarily urgent" that the US and Asia adopt policies that prevent a revival of global economic imbalances as the financial crisis ebbs.

updated Mon Oct 19 2009 13:39:47

UK home loan borrowers face tough new rules

Mortgage borrowers will have to pass new affordability tests and be able to prove their income to qualify for new loans following a sweeping reform of the market by the Financial Services Authority.

updated Sun Oct 18 2009 20:32:31

Sri Lanka claims billionaire trader funded terrorists

Raj Rajaratnam, the New York-based billionaire and hedge fund manager charged in an alleged insider trading scheme on Friday, was funding the Liberation Tigers of Tamil Eelam, which is considered a terrorist group by the US, the Sri Lankan government claimed on Sunday.

updated Fri Oct 16 2009 13:03:48

Welcome to the University of iTunes

The wisdom of business professors, once only available to MBAs and business students, can now be accessed by anybody with an Internet connection.

updated Fri Oct 16 2009 05:24:48

Image experts help job hunters dress to impress

Job seekers struggling with a cutthroat job market are turning to image consultants to give them an edge at interviews.

updated Fri Oct 16 2009 04:52:34

Google says recession worst is over

Google on Thursday declared the worst of the recession over and paved the way for a return to heavy spending on expansion as it reported a surprisingly strong 8 per cent jump in net revenues in its latest quarter.

updated Thu Oct 15 2009 22:39:50

Goldman Sachs profits crush estimates

Goldman Sachs reported on Thursday that it had nearly quadrupled its profits in the third quarter compared with a year ago, driven by a jump in trading revenues and strong returns on its own corporate investments.

updated Thu Oct 15 2009 22:01:49

US hardens stance on Chinese currency

The Obama administration said on Thursday that it had "serious concerns" about the value of the renminbi, but stopped short of accusing China of manipulating its currency in a closely watched report to Congress.

updated Thu Oct 15 2009 21:11:55

Markets reflect fears on health of Thai king

A scare over the health of Thailand's king has delivered a blunt lesson to investors about political risk in a country where many see the revered monarch as the sole hope of reconciliation in an increasingly fractured society.

updated Thu Oct 15 2009 08:01:01

Hong Kong apartment sets new record price

A Hong Kong property developer has sold a duplex apartment for a world record price, less than three months after the territory technically emerged from recession.

updated Wed Oct 14 2009 21:06:37

Odd jobs run India's economy

The economic might of India may bring to mind technological savvy and overseas call centers. But to understand the Indian economy, a visit to a roadside dentist like Raj Kishore is more illuminating.

updated Mon Oct 12 2009 08:27:58

Barclays to spin off £6.3B assets

Barclays is planning to spin off a £4bn ($6.3) portfolio of complex credit assets as the bank presses ahead with a process to clean up its balance sheet and ease shareholder concerns over its investments.

updated Mon Oct 12 2009 07:58:59

UK government plans $25B assets sale

British Prime Minister Gordon Brown unveiled plans Monday to sell off state assets worth an estimated £16 billion ($25 billion) as part of moves to reduce the UK's national debt.

updated Fri Oct 09 2009 17:19:49

Financial fraud -- accounting for criminals

When Sam Antar was cooking the books for his company, he used a number of complicated accounting tricks to dupe auditors. But some tactics were simple.

updated Fri Oct 09 2009 05:37:53

Harness your star power to shine in interviews

The next time you've got a job interview and someone advises you to "just be yourself," you might do well to ignore their advice.

updated Fri Oct 09 2009 04:00:18

Opinion: 'Green finance' vital lubricant in climate battle

At the UNIDO/UNEP/UN ESCAP/ILO conference on green industry in Asia, held in Manila, the Philippines in the second week of September, I proposed the formation of an International Green Finance Association in support of green industry and green economy in general.

updated Thu Oct 08 2009 10:17:54

Eurozone interest rates left on hold

Eurozone interest rates were left unchanged on Thursday at the record low of 1 per cent, highlighting the European Central Bank's caution about the strength of the region's economic recovery.

updated Wed Oct 07 2009 20:18:50

Fashion victim: Versace quits Japan after 30 years

Versace, the favoured brand of celebrities such as Elton John and Jennifer Lopez, is pulling out of Japan after nearly 30 years -- highlighting the depth of the consumer slump in one of the world's largest luxury markets.

updated Tue Oct 06 2009 08:19:04

Study: Why empty shelves make shoppers buy more

Shoppers are more likely to buy a product if they are told that another item has sold out, according to a new study.

updated Tue Oct 06 2009 03:14:50

Australia raises rates from 49-year low

Australia became the first OECD nation to raise interest rates on Tuesday when its central bank increased the official cash rate from 3 percent to 3.25 percent.

updated Mon Oct 05 2009 09:54:31

France Telecom replaces deputy chief amid suicide storm

France Telecom, which faces a political storm over a spate of employee suicides, on Monday appointed Stephane Richard, a former top aide of France's economy minister, as deputy chief executive of the telecoms group.

updated Mon Oct 05 2009 08:48:21

Media tycoon Reinhard Mohn dead at 88

Reinhard Mohn, who turned his family's religious publishing company into Bertelsmann AG, one of the world's largest media conglomerates, died Saturday, the firm announced Sunday.

updated Mon Oct 05 2009 06:12:23

Businesses hit back with 'fighter brands'

When the economy gets tough, the tough come out fighting. For some businesses, that means bringing out a fighter brand -- a cut-price version of a flagship product, marketed under a new name, and intended to fight back against budget competitors.

updated Fri Oct 02 2009 06:42:09

Suicide, lies and videotape: The real 'Informant!'

Watching the premiere of "The Informant!" -- the Matt Damon movie about a high-level FBI mole at a large multinational company -- was the mole himself, Mark Whitacre.

updated Thu Oct 01 2009 08:14:34

UK investigators to press for BAE fraud charges

Corruption investigators are to press for criminal charges over BAE Systems' arms deals, setting the stage for a showdown in Britain's most politically-charged corporate corruption case.

updated Thu Oct 01 2009 00:13:02

Japan confidence up, but outlook still dreary

Business confidence in Japan improved for a second quarter running, but the outlook for spending and profitability remains weak, according to a survey by the Bank of Japan on Thursday.

updated Wed Sep 30 2009 07:21:27

IMF warns of further recession risks

Banks round the world have still to reveal about half of their likely losses resulting from the financial and economic crisis, the International Monetary Fund said on Wednesday, warning that there was still a "significant" risk of another downward lurch in the global recession.

updated Tue Sep 29 2009 09:08:55

Walking over hot coals to bond with colleagues

Anyone who has spent an afternoon making paper chains as part of a corporate team-building exercise will know that it takes more than a few cheap props and a buffet lunch to break out of the workplace rut.

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