The Japanese carmaker Mazda Motor has confirmed that troubled US carmaker Ford Motor will sell its 20% stake in the company.
Ford has a 33.4% stake in Mazda and the current move will decrease it to just over 13%.
Falling sales around the world has hit hard Ford and now the company is trying to raise cash [...]

Falling customer numbers and the cost of closing under-performing outlets led Starbucks to see its fourth-quarter profit almost wiped out.
Starbucks reported it global results for Q3 that showed its net profits $5.4m that were $158.5m a year earlier.
According to Starbucks, this $105m fall is because of its continuing restructuring work.
However, in the US, Starbucks sales [...]

In its latest world economic outlook report, the International Monetary Fund (IMF) says that if the financial crisis continues, the economic downturn in many countries will worsen.  The report comes before IMF-World Bank meeting in the US this week.
The signs of a marked slowdown in growth are quite obvious in the global economy and there [...]

The US central bank has rejected the calls for a cut in the interest rates and left it unchanged at 2%.
According to analysts, a cut was expected after Lehman Brothers’ bankruptcy declaration.
Central banks all around the globe are facing double threat of a wider economic slowdown and quickening inflation.
The bank’s official said that: “the risks [...]

A UN report warns that the poor countries of the world would see the worst impact of worldwide economic slowdown during the next year.
Because of the economic recession worldwide, the expected growth in many developing countries is lower than 1% and the things would be worsen during the next year.
Unctad, UN agency for the developing [...]