IBT Staff Reporter

General Motors Co proved with the Chevrolet Cruze it can build a top-selling compact car, cracking a market long dominated by Japanese brands.

Welcome to an unlikely beacon of hope for the global auto industry -- Detroit.

Venezuelan President Hugo Chavez said on Sunday that his country would not recognize any ruling by a World Bank tribunal in a multibillion-dollar arbitration case with Exxon Mobil Corp.

Global regulators vowed on Sunday to press ahead with tough new liquidity rules for banks from 2015, but in a move to head off opposition from industry, also said lenders can tap into safety buffers in times of stress.

The German and French leaders meet on Monday to discuss ways to boost growth in euro zone states struggling to overcome the sovereign debt crisis and rising unemployment, and finalise a deal to increase fiscal coordination within the currency union.

Signs the recovery is gaining strength suggest the Federal Reserve may not need to buy any more bonds to spur growth, a top policymaker said on Saturday.

The Algeria state announced on Sunday it will acquire a 51 percent stake in Vimpelcom's Djezzy mobile phone unit and keep Vimpelcom on as operator, but it has still not decided how much it will pay for the stake.

Counting container ships plying the high seas and air cargo takeoffs is one way to track the outlook for the global economy. Both measures point to weak growth in the months ahead but no severe storms.

Counting container ships plying the high seas and air cargo takeoffs is one way to track the outlook for the global economy. Both measures point to weak growth in the months ahead but no severe storms.

Canada's famously conservative banks, hit last week by a high profile downgrade, may still be the least bad option for Canadian investors in what could be another ugly year for stock markets.

Big-serving Canadian Milos Raonic edged out Serbian Janko Tipsarevic 6-7 7-6 7-6 in a nerve-jangling Chennai Open final Sunday to win his second ATP title.

Singer Beyonce has given birth to a baby girl in New York, local media reported on Sunday.

Novartis's consumer health unit will take a $120 million hit in the fourth quarter after the Swiss drugmaker decided to voluntarily recall some products in the United States and move to improve quality standards at manufacturing sites.

Alcoa Inc. shares could rise by as much as 30 percent in 2012 as weak aluminum prices may have bottomed while demand for the metal remains strong, financial weekly Barron's reported on Sunday.

Alcoa Inc shares could rise by as much as 30 percent in 2012 as weak aluminum prices may have bottomed while demand for the metal remains strong, financial weekly Barron's reported on Sunday.

Hungary is willing to discuss any issues at talks with the International Monetary Fund from which it wants to secure a funding deal, Hungarian Prime Minister Viktor Orban said on Sunday.

China's banks ratcheted up lending in the last month of 2011 on the back of stronger money supply, reinforcing perceptions that the central bank is gently easing policy to cushion the impact of the global economic slowdown.

The Khartoum stock exchange on Sunday launched a long-awaited computer trading system that will bring to an end an era of scribbling stock prices on white boards and also marks Sudan's efforts to attract more investment.

U.S. authorities have given Swiss banks suspected of selling tax-evasion services to wealthy Americans a Jan 23. deadline to hand over the names of client advisers, a Swiss newspaper reported on Sunday.

U.S. authorities have given Swiss banks suspected of selling tax evasion services to wealthy Americans a Jan 23. deadline to hand over the names of client advisers, a Swiss newspaper reported on Sunday.

The head of Europe's bailout fund was reported on Sunday as saying he wants to boost state guarantees on the fund's bonds, although a fund official said no changes had been made to an original plan.

The Nissan Motor Co. and Daimler AG said on Sunday they would produce Mercedes-Benz gasoline engines at Nissan's Tennessee factory for fitting on Mercedes and Infiniti models, beginning in 2014.

Nissan Motor Co and Daimler AG said on Sunday they would produce Mercedes-Benz gasoline engines at Nissan's Tennessee factory from 2014 to be fitted on Mercedes and Infiniti models.

Italy plans gradual liberalizations in sectors ranging from energy to professional services to revive its ailing economy, the country's industry minister said on Sunday, ahead of meetings with European partners to discuss ways to stem the debt crisis.

Italy plans gradual liberalizations in sectors ranging from energy to professional services to revive its ailing economy, the industry minister said on Sunday, ahead of meetings with European partners to discuss ways to stem the debt crisis.

Chinese banks ratcheted up the pace of lending in the last month of 2011 to 640.5 billion yuan ($101.51 billion) from 562.2 billion yuan in November as the central bank eases policy to cushion the domestic impact of the global economic slowdown.

Scandal-tainted Olympus Corp. is considering suing current and former executives for compensation totaling about 90 billion yen ($1.2 billion), while its new president is considering resigning, a source familiar with the matter said.

An Olympus Corp panel plans to recommend the endoscope maker sue current and former executives for more than 90 billion yen ($1.2 billion) in scandal-related damages, and its president, Shuichi Takayama, is expected to resign by the end of the month, media reported on Sunday.

An Olympus Corp panel plans to recommend the endoscope maker sue current and former executives for more than 90 billion yen ($1.2 billion) in scandal-related damages, and its president, Shuichi Takayama, is expected to resign by the end of the month, media reported on Sunday.