General Motors is closing four truck and SUV plants in the United States, Canada and Mexico as surging fuel prices hasten a dramatic shift to smaller vehicles.
Dozens of lorries and taxis blocked a motorway leading into Paris's main financial district yesterday in a protest against high fuel prices.
Ryanair Holdings Plc Chief Executive Officer Michael O'Leary predicted Europe's biggest discount airline will stay profitable this year as he increases ticket prices and baggage charges to make up for record oil costs.
Oil dropped by more than a dollar to below $127 a barrel yesterday, as traders weighed the threat to sustained demand from changes in fuel subsidies in Asia.
Economic growth in the Asia-Pacific region will slow to 3.7 percent year-on-year this year from 4.9 percent last year, while inflation will become a bigger concern, a major regional think-tank has forecast.
Bradford & Bingley Plc, the United Kingdom's largest lender to landlords, suffered its biggest drop in London trading after the company announced plans to sell shares at a 33 percent discount and said the housing market is worsening.
US Treasury Secretary Henry Paulson said it will take "months" before financial-market turmoil ends and that he "very strongly" supports a strong dollar.
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