Mining giant Rio Tinto has formally accepted a $2bn (£1.3bn) offer by Australian firm Amcor for four units of its Alcan Packaging businesses. Amcor is buying Alcan’s tobacco and drugs packaging units, and its European and Asian food packaging arms. The offer was made on 18

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Citigroup says the Abu Dhabi Investment Authority (ADIA) has filed a claim against it seeking to stop a 2007 deal to buy $7.5bn (£4.6bn) worth of stock. If the deal is not blocked, ADIA is asking for damages of more than $4bn. ADIA, one of the largest sovereign wealth funds in the world,

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The US economy grew by less than originally estimated between July and September, official figures show. The latest estimate said the economy grew at an annual pace of 2.2%, down from the previous estimate of 2.8%. The first reading had shown growth of 3.5%. It is the first quarter in which the US economy returned [...]

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pay of Walt Disney’s chief Robert Iger fell 28% to $29m (£18.1m; 20.2m euros) in 2009, a company filing to regulators has showed. Disney’s earnings have suffered this year because of the economic slowdown. However the board praised Mr Iger for “his rapid response

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US car giant General Motors plans to form a new venture with its Chinese partner, SAIC, to focus on the small car market in India. It aims to produce the vehicles within India itself, making SAIC the first major Chinese company to so do. GM has said it wants to use India as a small [...]

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US unemployment rate fell in November to 10% from 10.2% in October, Labor Department figures show. Employers in November cut the lowest number of jobs since the recession began in December 2007. In all, 11,000 jobs went over the month. That was far fewer than the

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Iceland’s recession deepened in the third quarter as figures showed output plunging at the fastest pace on record. Its economy contracted 5.7% in the July to September period compared to the previous three months. On an annual basis the

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The China Association of Automobile Manufacturers expects car sales and output to top 13 million for the full year, the Xinhua News Agency reported. China has never produced more than 10 million cars in one year before. State incentives have boosted car sales, and the government has

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