Hitachi has announced that it will be providing lithium-ion batteries that power hybrid cars to General Motors from next year.

The electronics company also said it planned to increase its production of the batteries from 40,000 cells a month to three million Continue reading this post…

The number of jobs lost in the US last month came in at 467,000, which was much more than had been expected. The jobless rate rose to 9.5% in June, from 9.4% in May, as the US economy continued to struggle.

Since the start of the recession in December 2007, the number of Continue reading this post…

Defence and aerospace group EADS has won a contract worth an estimated $2.27bn to help Saudi Arabia improve its border security.

The five-year deal will expand on the pan-European firm’s existing Continue reading this post…

Sun Pharmaceutical Industries Ltd announced today that it has got
US FDA tentative approval for generic Optivar

Shree Renuka Sugars QIP Shares Allotment
Shree Renuka Sugars Ltd has announced that the QIP Allotment Committee at its meeting held on July 02, 2009, has allotted 36,936,840 equity shares of Re 1 each at the issue price of Rs 137/share, and raised Continue reading this post…

EdServ bags order from Mother Teresa University to implement EdCademy
Edserv Softsystems Ltd has announced that the COmpany has bagged the Letter of Intent (LoI) from Mother Teresa University to implement EdCademy and the details of this recent development are given in the Continue reading this post…

The US economy shrank at an annualised rate of 5.5% in the first three months of 2009, better than previously thought, government figures show. Gross domestic product (GDP) had been previously estimated at a 5.7% decline.

The fall in GDP now seems to be easing, after shrinking at an annualised pace of 6.3% in the previous quarter. But concern about Continue reading this post…

Prices in Japan fell by the most on record last month, raising fears of a new bout of deflation, official figures from the Ministry of Finance show.

Consumer prices fell 1.1% in May from the same month a year ago, the most since records began in 1970. Prices of goods excluding fresh food also fell for the third straight month. Continue reading this post…

Oil giant BP has appointed the chief executive of Swedish telecommunications company Ericsson as its chairman to replace Peter Sutherland.

Carl-Henric Svanberg will join the oil giant’s board in September and take over as chairman on 1 January 2010. BP chief executive Tony Hayward said that Mr Sutherland would be “a hard act to follow”. Continue reading this post…

Spain launches $12.7bn bank fund
Spain has launched a 9bn euro ($12.7bn; £7.7bn) fund in case any of its troubled banks needs rescuing.Finance Minister Elena Salgado said the money could be used for capital injections, mergers or restructuring.

She said the Fund for Ordered Bank Restructuring would start off with 9bn euros, but that the size of the fund could rise to 90bn euros. Continue reading this post…