General Motors is heading towards bankruptcy after it failed to win agreement from holders of $27 billion in unsecured bonds for a debt-for-equity swap.
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Royal Dutch Shell expects to axe thousands of jobs in the restructuring launched by Peter Voser, its new chief executive.
Source: Financial Times
US Treasury yields increased to their highest level in six months, raising fears that rising mortgage rates could slow a burgeoning economic recovery.
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Nationwide Building Society profits dropped by two-thirds last year because of the cost of the Government’s savings protection scheme.
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BT revealed that the executive who oversaw the division that put the business into a full-year loss received a £1.6 million pay-off after he quit.
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