General Motors agreed last night to sell its Saab Automobile brand to the Dutch car maker Spyker for $400 million.  Spyker, which manufactures luxury sports cars, will form a new companyÔÇöSaab Spyker AutomobilesÔÇöto take over the brand. The Zeewold, Netherlands-based company employs 110 people and produces between 30 and 50 cars per year, which each sell for around $200,000. Saab, which currently employs 3,400 workers, last year manufactured 24,000 cars. Spyker is estimating that it will make 100,000 Saabs a year, enough to be profitable.

General Motors agreed last night to sell its Saab Automobile brand to the Dutch car maker Spyker for $400 million (£247 million).

Consumer electronics giant Apple has reported its most profitable quarter in its 34-year history, beating its previous quarterly record by more than $3 billion.

Official figures to be released today are expected to show that the UK has officially exited from recession.

A consortium made up of Italy's Eni, California-based Occidental Petroleum Corp. and Korea Gas Corp. signed a final deal in Baghdad on Friday to develop the Zubair oil field in southern Iraq.  The deal is one of several that IraqÔÇÖs government hopes will transform it into a major global oil producer.  The consortium plans to invest approximately $20 billion into Zubair over the life of the 20-year contract, which has the potential to be extended to 25 years.

London-based marketing group Aegis has formed a joint venture with ChinaÔÇÖs Charm, one of the largest brokers to China Central Television.

UK gaming software provider Playtech has taken a significant step into the global lottery market by signing a deal with the US-based gaming services provider Scientific Games.  Playtech and New York-based Scientific Games will jointly develop and market internet and land based gambling products and services to gambling operators in the US and overseas.  The deal will see Playtech's business-to-business internet software and content combine with Scientific Games' government-compliant gambling equipment and instant tickets.

UK gaming software provider Playtech has taken a significant step into the global lottery market by signing a deal with the US-based gaming services provider Scientific Games.

Starbucks has posted earnings of $242 million for the last quarter of 2009, up from $64 million during the same period last year.

The number of people out of work in the UK fell by 7,000 to 2.46 millionÔÇöthe first decline in unemployment figures since the three months to May 2008, official figures have confirmed.