General Motors (GM) has announced plans to cancel the sale of a majority stake in its European car business Opel, including its UK brand Vauxhall, to Canadian auto-parts maker Magna International, Inc. ┬á The US car makerÔÇÖs decision to sell its main European business was made after it was forced to announce a group-wide loss of $30.9 billion for 2008, after its sales took a turn for the worst in the global recession.

General Motors (GM) has announced plans to cancel the sale of a majority stake in its European car business Opel, including its UK brand Vauxhall, to Canadian auto-parts maker Magna International, Inc.
 

General Motors (GM) has announced plans to cancel the sale of a majority stake in its European car business Opel, including its UK brand Vauxhall, to Canadian auto-parts maker Magna International, Inc.
 

General Motors (GM) has announced plans to cancel the sale of a majority stake in its European car business Opel, including its UK brand Vauxhall, to Canadian auto-parts maker Magna International, Inc.
 

Two leading tool and equipment makers, Stanley Works and Black & Decker, announced on Monday that they had agreed to merge in an all-stock transaction valued at about $4.5 billion.  Stanley is a diversified industrial company that sells hand tools and construction equipment, while Black & Decker is known for its power tools, and the combination would merge two companies whose product lines appear to go well together.  "Our lines complement each other," Black & Decker chief executive Nolan Archibald said in an interview.

German car manufacturer BMW, the worldÔÇÖs largest maker of luxury cars, has suffered a 74 per cent decline in third quarter profits after the recession hit demand for higher priced vehicles.
 

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The US lender, CIT Group, has filed for bankruptcy protection, after a failed debt-exchange offer to bondholders. ┬á CIT Group suffered as the credit crisis left it unable to fund itself, and the recession exposed it to many bad loans. CIT has been fighting to stay alive ever since the federal government refused to inject more cash into the small business lender, after the investing $2.33 billion in December 2008 through the Troubled Asset Relief Program (TARP). ┬á It isnÔÇÖt a typical scenario.

Consumer confidence in the UK has risen to its highest level for 18 months according to research by the British Retail Consortium (BRC), but there is still a major concern about jobs.
 

Being a large private organization and also being a great place to work don’t automatically happen together.