Magna 'agrees to buy GM Europe'
Car parts maker Magna International agrees in principle to buy GM Europe, owner of Opel and Vauxhall, reports say.

Rise reported in UK house prices
House prices rose by 1.2% in May offering evidence of activity in the housing market, according to figures from the Nationwide.

Scrap scheme boost to car sales
More than 35,000 new cars have been ordered through the UK's scrappage scheme, government figures show.

Oil prices continue rally to $66
Oil prices hit a six-month high above $66, buoyed by falling US stockpiles and revised US first-quarter GDP figures.

Severn Trent annual profits fall
Rising bad debt among customers and firms using less water in the recession push Severn Trent's annual profits down 6%.

Slow start for mortgage help plan
Only two households in England have been given help in the first four months of a multi-million pound mortgage rescue scheme.

Tata profits hit by drop in sales
Profits at India's Tata Motors fall by 50% as the global economic slowdown hits demand for cars and trucks.

US economy shrinks at slower pace
The US economy shrank by 5.7% in the first quarter of 2009, less than had previously been estimated by official figures.

Anglo Irish gets aid from Dublin
The Irish government announces it will inject 4bn euros into Anglo Irish Bank after the lender reported big half yearly losses.

FROM NEWSBEAT >>
Primark settles out of court after being accused of copying David Beckham's favourite jacket
Superdry reach an out-of-court settlement with Primark after the bargain high street chain imitate its Brad leather jacket.

Dead people in Australia given cash hand-outs
The Australian government admits cash hand-outs aimed at stimulating the economy have been sent to thousands of dead people.

City Diaries
'It is an absolute disgrace that many of those who criticised the banking industry have been found with their own snouts in the trough'

Luton waiting
Nervous times in the former car-making capital

Second home?
How to avoid capital gains tax like an MP

Mixed fortunes
Ups and downs for small firms battling the recession

Cruel necessity
A child's income is vital for families in Bangladesh

Vauxhall town
Workers feel 'powerless' waiting for news

Loan insurance sales block begins
Banks and other lenders should stop selling controversial single premium loan insurance from Friday, the City watchdog says.

Eurozone inflation at record low
Prices in the eurozone stopped rising in May, with the official inflation rate 0.0%, fuelling fears of impending deflation.

Surfer brands stretch Blacks loss
Blacks Leisure reports an annual pre-tax loss of £14.4m after "difficult" trading conditions on the High Street.

Japan's industrial output jumps
Japan's factory output jumps at its fastest rate in more than 50 years, but higher unemployment dampens hopes of recovery.

Big drop in global server sales
Worldwide server sales fell 24.5% in the first quarter of 2009, according to market research firm IDC.

Strong Indian growth surprises
India's economy slowed to annual growth of 5.8% in the first three months of the year, which was better than expected.

Irish economy 'is not all gloom'
Irish Prime Minister Brian Cowen says people can begin to have confidence about the future of the country's economy.

Pension details of 109,000 stolen
A laptop computer with details of 109,000 members of six pension schemes has been stolen from offices in Buckinghamshire.

PC-maker Dell's profits slump 63%
Dell sees its latest quarterly profits decline almost two-thirds as the worldwide recession hits computer sales.

US to host next G20 meeting
The White House confirms that the US will host the next G20 summit of world leaders in September.

XL refunds 'by end of summer'
People waiting for refunds from the collapse of the XL travel group should get their money by the end of the summer, the aviation regulator says.

New vehicle scam costs £3m
People selling cars in the UK are losing £3m a year from a scam promising to match them with a buyer, authorities say.

UK housing rents 'stop falling'
Typical UK rents remained unchanged in May after nine consecutive months of falls, according to a property website.

Lower-paid 'behind on pensions'
Low-paid employees in the UK are less likely to belong to pension schemes, official statistics show.

Pound falls back against dollar
Sterling falls against the dollar after the US currency rallies in early trade and a UK policymaker warns of "false dawns".

UK High Street sales fall in May
UK retail sales fell more than expected in May after a brief rise in April, a survey by the CBI has shown.

Global crisis 'hits human rights'
The global economic crisis is greatly exacerbating abuses of human rights, Amnesty International warns.

Discounts boost Japan retailers
Retail sales in Japan rose in April for the first time in eight months after successful discounting at department stores and supermarkets.

Wolseley profits hit share price
Buildings material group Wolseley's shares tumble 15% after the company issues a downbeat trading statement.

Trouble for French fashion house
French fashion house Christian Lacroix SNC launches insolvency proceedings, it is confirmed.

Time Warner and AOL to separate
US media giant Time Warner announces that it is to completely separate itself from AOL around the end of the year.