Magna is 'very close' to GM deal

Canadian car parts maker Magna is the preferred bidder for GM Europe, owner of Opel and Vauxhall, Lord Mandelson says.

US begins GM bankruptcy planning

General Motors and the US Treasury improve the offer to GM's bondholders, as they prepare for the firm's bankruptcy.

GM ponders future as deal fails

General Motors' battle to avoid bankuptcy suffers a blow as bondholders reject a key part of the carmaker's restructuring plan.

Consumer confidence buoys market

US shares rise after a survey suggested US consumer confidence was at its highest level since last September.

German firms see optimism ahead

Firms in Germany are more confident now than they have been for six months, according to a key index.

High costs fuel record loss at BA

British Airways announces an annual pre-tax loss of £401m, after being hit by the weak pound and higher fuel costs.

Markets fall as growth hopes fade

Markets worldwide fall after Federal Reserve minutes showed the central bank has lowered its forecast for US growth.

Japan's economy in record plunge

Japan's economy in the first three months of 2009 shrinks at its quickest pace since records began, as exports slump.

Oil above $60 on US economy hopes

Oil prices rise above $60 a barrel - with analysts pointing to renewed hopes of a recovery in the US economy.

Indian stocks surge on election

Indian stocks rise more than 17% after the Congress party wins a surprisingly decisive victory in national elections.

Eurozone economies contract 2.5%

The economy of the eurozone declined by 2.5% in the three months of 2009, the EU's statistics agency says.

Sony sees first loss in 14 years

Japanese electronics giant Sony reports its first annual loss in 14 years, after being hit by a big drop in sales.

EU slaps a record fine on Intel

Chipmaker Intel is fined a record 1.06bn euros ($1.45bn; £948m) by the European Commission for anti-competitive practices.

Hitachi posts record annual loss

Electronics maker Hitachi reports a record annual loss by a Japanese manufacturer, after a drop in demand for its products.

Centrica in British Energy deal

British Gas owner Centrica says it is buying a 20% stake in nuclear firm British Energy for £2.3bn, less than initially planned.

Ten US banks fail 'stress tests'

Ten US banks need a combined $74.6bn (£50bn) of extra funds to boost their cash reserves, the government says.

US banks 'safe from insolvency'

No US bank being examined by regulators is at risk of insolvency, US Treasury Secretary Timothy Geithner says.

Judge paves way for Chrysler deal

The judge overseeing the bankruptcy of Chrysler rejects efforts to halt the sale of the ailing automaker to Italian Fiat.

UBS cautious as losses stack up

UBS confirms a quarterly net loss of 2bn Swiss francs and says it remains cautious as the economy continues to deteriorate.

Fiat could buy Vauxhall and Opel

Italy's Fiat is in talks to buy the European business of General Motors - which includes Vauxhall and Opel.

Lenders object to Chrysler plan

A group representing 20 debt holders in Chrysler is set to object to the firm's Chapter 11 bankruptcy move.