And in the real world... GM, Shell, Nationwide, BT and more

LONDON - Today's round-up of the biggest business stories.

The World...latest business news
The World...latest business news

General Motors is heading towards bankruptcy after it failed to win agreement from holders of $27 billion in unsecured bonds for a debt-for-equity swap.
Source: Financial Times

Royal Dutch Shell expects to axe thousands of jobs in the restructuring launched by Peter Voser, its new chief executive.
Source: Financial Times

US Treasury yields increased to their highest level in six months, raising fears that rising mortgage rates could slow a burgeoning economic recovery.
Source: Financial Times

Nationwide Building Society profits dropped by two-thirds last year because of the cost of the Government’s savings protection scheme.
Source: The Guardian

BT revealed that the executive who oversaw the division that put the business into a full-year loss received a £1.6 million pay-off after he quit.
Source: The Independent