Business and Finance news

General Motors has suspended production of Hummer vehicles pending Chinese government approval of its deal to sell the unit to Sichuan Tengzhong Heavy Industrial Machinery Co., a GM spokesman said Thursday.
The H3 and H3T, the last two Hummer models still being made, are produced at GM’s Shreveport, La., factory. The factory, which also makes […]

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Twitter Inc. will reportedly try premium accounts in Japan through its subsidiary there, according to reports from Asia on Friday.
Media Asia reported that an official from DG Mobile, a subsidiary of Twitter's Japanese partner Digital Garage, talked about the plans at the Mobidec2009 conference.
The site said the premium accounts will show some text on tweets […]

In a sign that more foreclosures could be on the horizon, 23% of people with mortgages owe more than their home is worth, according to a report released Tuesday.
Almost 10.7 million U.S. mortgages were "underwater" as of September, said research firm First American CoreLogic.
Another 2.3 million homeowners are within 5% of negative territory, […]

Broad public support will be required to ensure Canada makes the right moves to expand pension coverage while the shortfall in retirement income is such a hot topic.
The question is whether politicians will hear from many of the potential 3.5 million middle-income workers whom pension expert Keith Ambachtsheer thinks would benefit most from […]

Nasdaq OMX Group said the number of Greater China companies that list on its exchange could double in as little as two years, fueled by a growing appetite for these shares from a wider range of U.S. institutional investors.
Three of the top 10 performing initial public share offerings in the United States this year […]

China’s government should keep fiscal stimulus spending intact for another year to allow for a “full recovery in 2011,” central bank adviser Fan Gang said.
Investment in China’s real estate sector is starting to resume and some industries are beginning to utilize previously idled capacity, Fan said. The government’s stimulus is needed to keep […]

German producer prices rose for the first time in 11 months in August as energy costs increased.
Prices gained 0.5 percent from a month earlier after falling 1.5 percent in July, the Federal Statistics Office in Wiesbaden said today. Economists forecast a 0.2 percent increase, according to the median of 24 estimates in a […]

General Motors has agreed to sell a major portion of its European Opel division to a consortium led by the Canadian auto supplier Magna, the automaker announced Thursday.
Under the plan, Magna, along with Russia’s Sberbank, will take over 55% of Opel. Opel employees will own another 10%, leaving GM with just 35% of Adam […]

Turkey, which has cut its key interest rate more than any other G-20 country, will likely slash it again as inflation slows to closer to the levels of the European Union which the country aims to join.
The Ankara-based central bank will probably reduce the overnight borrowing rate half a percentage point to 7.75 […]

The European manufacturing industry’s contraction slowed more than initially estimated in July, adding to indications the worst recession in six decades may have bottomed out.
An index of euro-area manufacturing activity rose for a fifth month, increasing to 46.3 from 42.6 in June, Markit Economics said today. The July figure is the highest in […]