Ford has reported a jump in US sales of 43% last month, selling more cars than its great rival General Motors (GM). GM posted a more modest rise of 11.5%, as it benefited from customers abandoning Toyota over the Japanese firm’s recall

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German Chancellor Angela Merkel has pledged to “stand helpfully by Greece’s side” but her economy minister said Germany would not offer a cash bailout. Mrs Merkel was speaking ahead of a meeting in Berlin with Greek Prime Minister George Papandreou.

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The European Central Bank (ECB) has kept the eurozone interest rate at its record low of 1% for the 10th month in a row, as expected. The ECB also signalled it would scale back the special lending measures introduced during the financial crisis.

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Hong Kong’s richest businessman Li Ka-Shing plans to bid for the UK arm of French electricity giant EDF Group. Mr Li’s bid would be a joint venture between holding company Cheung Kong Infrastructure (CKI) and Hongkong Electric, which is 40% owned

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