US auto giant General Motors (GM) has announced massive investments in China to wrest the grip of German carmakers BMW and Audi on the country's luxury car market. GM hopes to boost sales 5 times by 2020.
Spain may to return to the path of economic growth in 2013, ending almost half a decade of recession, the International Monetary Fund (IMF) has said. As reforms are taking hold, the road to recovery will remain tough.
European aerospace and defense group EADS is considering selling parts of its defense activities in an effort to boost profitability, CEO Tom Enders has said. EADS sees a general need for consolidation in the sector.
A World Bank report has warned that ongoing global warming could trap millions of people in poverty. It said large areas of arable land would disappear, wreaking large-scale economic havoc.