The Artesian blog takes a look at the business headlines, For personalised daily news, contact Artesian
Qantas annual profit drops 88% - Qantas Airways has posted a large drop in its annual profits, as it continues to struggle with the economic downturn.
The Australian airline said net income for year to 30 June fell 88% to 117m Australian dollars ($96.5m; £58.5m). (full story)
IMF: recovery has started but could be derailed - The world is beginning to emerge from the worst recession since World War Two, the International Monetary Fund’s chief economist Olivier Blanchard said.
But the old status quo of Asia supplying American demands must change or the global recovery may be derailed, Mr Blanchard warned in a paper published today. (full story)
GM Sells Saab To Swedish Supercar Group - General Motors has finalised an agreement to sell Saab to a consortium which includes the head of Swedish supercar firm Koenigsegg.
Koenigsegg, which specialises in building sports cars capable of speeds up to 250mph, produces just 18 cars a year and employs 45 people. (full story)
Microsoft legal chief sees risk in Yahoo deal - Microsoft Corp (MSFT.O) has confidently described its planned search advertising deal with Yahoo Inc (YHOO.O) as a "win-win", but the software company's legal chief is prepared to concede that the outcome is not certain.
The deal, struck in late July after months of talks, faces a tough regulatory review, and the possibility that it won't be enough to effectively challenge Google Inc (GOOG.O). (full story)
SHOPPERS STILL FACE PRICE RISES - HOPPERS were hit by rising prices last month – despite forecasts that the recession could cause the cost of goods to fall.
The Consumer Prices Index was unchanged at 1.8 per cent as falling food and fuel costs were offset by a rise in the price of DVDs, toys and computer games thanks to the weak pound. (full story)
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