IBT Staff Reporter

France's Renault SA and India's top utility vehicle maker Mahindra are in the running to buy troubled South Korean SUV maker Ssangyong Motor, sources said on Friday, in a deal worth up to $500 million.

Daimler's passenger car division Mercedes-Benz Cars expects operating profit to reach the upper end of its forecast this year and aims to boost profitability to 10 percent of sales by the second half of 2012.

Honda Motor Co is still trying to resolve a labor dispute at a China parts plant that led to the closure of all four of its car plants in the country and has no timetable for resuming production, a company spokesman said on Friday.

As production levels remain robust, the company will recruit about 350 new workers starting this July, the business daily said.

General Motors will develop electric car technology for the Indian market in its home town of Detroit, after ending a partnership with Indian firm Reva, the head of its operations in the country said.

(Reuters Health) - A small new study has found that taking soy supplements may help postmenopausal women slim down.

Fitch cut Spain's credit rating by one notch on Friday, sending markets lower and capping a horrible week for a government struggling to convince investors it can solve its economic woes and avoid a Greek-style debt crisis.

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast, pushing world equities and the euro lower.

HSBC's executive pay policy got a grudging green light on Friday, along with a stinging rebuke from one of its top investors, as Europe's biggest bank said it was bracing for further economic shocks.

A U.S. federal judge on Friday gave Toyota 30 days to turn over the bulk of documents sought by class-action lawyers from previous investigations of complaints about its cars racing out of control.

Stocks fell 1 percent on Friday, extending earlier losses as a downgrade by Fitch Ratings of Spain's credit rating reignited worries about euro-zone debt issues.

As Wal-Mart Stores Inc employees chant the corporate cheer at the company's annual meeting this year, Wall Street is less enthusiastic about the retailer's U.S. sales trailing a fitful economic recovery.

Consumer spending unexpectedly stalled in April after six straight months of gains, but rising income and consumer confidence pointed to solid consumption this quarter.

The House of Representatives on Friday was to vote on a reduced package of safety-net spending and tax measures that would raise taxes on fund managers, but it likely was too late to avoid disrupting jobless benefits for hundreds of thousands of Americans.

Shares of CKX Inc jumped by a third of their value Friday, a day after The Wall Street Journal reported American Idol creator Simon Fuller and former Barclays Capital top dealmaker Roger Jenkins are planning a $600 million bid for the company.

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast due to strict austerity measures passed this week.

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast due to strict austerity measures passed this week.

Berkshire Hathaway Inc confirmed on Friday that Warren Buffett will testify under subpoena before a U.S. panel examining the causes of the 2008 financial crisis.

Talks between British Airways and the union Unite which represents striking cabin crew were adjourned without the parties reaching an agreement, the mediator Acas said on Friday.

The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org http://www.hbr.org. Any opinions expressed are not endorsed by Reuters.

Fitch Ratings downgraded Spain's credit ratings by one notch on Friday, saying the country's economic recovery will be more muted than the government forecast due to its austerity measures.

Diehard fans mobbed Apple Inc stores in Europe and Asia as the iPad went on sale outside the United States on Friday, with some shoppers having queued all night to buy one of the coveted tablet computers.

Stocks fell on Friday as data showed consumer spending was unexpectedly flat last month and growth of U.S. Midwest business activity slowed more than expected.

The Federal Reserve on Friday announced plans to test a new facility it could use to withdraw some of the extraordinary stimulus it pumped into the economy during the recession, but stressed it was not embarking on a tightening of monetary policy yet.

Consumer sentiment rose a bit in May from April but stayed roughly unchanged from levels reported since February, while the one-year inflation expectations climbed to the highest since October 2008, a survey showed on Friday.

Royal Dutch Shell said it would pay $4.7 billion cash to buy privately held East Resources Inc, giving it more exposure to promising shale gas reserves in North America.

Consumer sentiment rose a bit in May from April but was roughly unchanged from levels since February, while the one-year inflation expectations also climbed, a survey showed on Friday.

Talks between Spanish unions and business leaders on labor reform ended without success on Friday, the latest sign that the euro zone is struggling to steer its way out of a debt crisis and into growth.

Consumer spending was unexpectedly flat in April after six straight months of gains, but growing consumer confidence in the economic outlook suggested consumption will remain strong this quarter.