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Ford Motor Co. announced a three per cent growth in the company’s sales for the month of October. This can be taken as a positive sign for the shaken automobile industry hoping for an improved economy to boost their sales and bring their profit margins back to normal. One of the largest automobile makers, Ford,... »

The leading banking group HSBC revealed n Tuesday that the banking giant is planning to slash as many as 1,700 jobs across its retail banking division in Britain. HSBC said it currently employs about 40,000 people in its British retail banking division. A spokesman for HSBC announced on Tuesday that the banking giant is planning... »

The Royal Bank of Scotland PLC, announced on Monday that it plans to cut as many as 3,700 jobs in its British branch network over a period of next couple of years. The job cuts in the bank, which is 70 percent owned by the British government, have been described as “deeply regrettable but, necessary.”... »

India’s largest car maker Maruti Suzuki India on Monday reported a 32.45 per cent hike in the company’s total sales 85,415 units in October as compared to the figures observed during the same period last year. Maruti Suzuki India (MSI) revealed in a statement that Maruti’s sales in the domestic market grew 21.01 per cent... »

The US government announced on Thursday that the country’s economy grew 3.5 per cent in the third quarter, bouncing back from a year of contraction and igniting the hopes to bouncing back totally out of recession. The annual growth reported by the Commerce Department of the government reflected a clear and the strongest expansion since... »

The back-office services arm of India’s Infosys Technologies Ltd, Infosys BPO, announced on Tuesday that the company has won a five-year outsourcing deal from the leading mobile operator T-Mobile in UK. T-Mobile is one of the world’s largest mobile operators with more than 125 million customers worldwide and about 16.7 million customers in the UK... »

US auto giant, bankrupt General Motors has to pay $9.55 million (almost Rs 45 crore) in trade debt to the steel maker ArcelorMittal. The US auto making giant, which filed for bankruptcy protection under Chapter 11 on Monday, owes as much as a staggering $172.81 billion in total debts to its 50 largest credit... »

The head of the International Monetary Fund on Friday expressed that the global economy is likely to emerge out of the current fiscal crisis early next year. The global recession worldwide, known as the worst since The Great Depression of the early 1930s, has so far hit almost all the sectors of the market,... »

The recession hit economy of the country has taken its toll on many of the giants from all the sectors. The companies have been looking at chalking out effective cost cutting techniques and methods, including handing pink slips, cutting production, shutting units and reducing incentives of the top officers. The latest to join the... »

The United Nations is expected to face a staggering $1.5 billion gap in its annual budget for the financial year 2008-09. This deficit is seen as a direct outcome of the raging recession in the member countries contributing the most to UN’s annual budget, United States, Britain, China and Germany. Under-Secretary-General for Management, Angela... »