And in the real world... Vauxhall, BA, Boots, Pearson and more

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

World news... round-up
World news... round-up

Lord Mandelson, the business secretary, clashed with union leaders on Monday over efforts to save Vauxhall plants in Britain as Honda and Toyota workers returned to production lines after lay-offs. Source: The Daily Telegraph

Willie Walsh, the chief executive of British Airways, has warned the airline's 41,000 staff that the group "is in a fight for survival". The airline is hoping to extract concessions and productivity savings from its workforce. Source: Financial Times

Alliance Boots has lost more than a third of its value since it was taken private in a £12 billion deal two years ago. The Boots investor Kohlberg Kravis Roberts admitted that its 50 per cent stake is now worth £850 million, compared with an initial £1.3 billion. Source: Daily Mail

Pearson, the educational publisher, is in talks with Prisa, the Spanish media group, over a potential purchase of a stake in Santillana, the market leader in school text books in Latin America. Source: Financial Times

One of the Bank of England's senior policymakers warned that unemployment would continue to climb this year and next, by as much as 100,000 a month, to beyond three million. Source: The Independent