And in the real world...GM, GSK, Nissan, Formula One, British Airways and more

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

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

General Motors' shares slid to their lowest level in more than 70 years yesterday amid increasingly loud signals that the Detroit car-maker is headed for bankruptcy protection within the next three weeks.
Source: Financial Times

GlaxoSmithKline, the pharmaceuticals group, said it would transfer a series of medicines and manufacturing assets to Aspen Pharmacare in a £273 million deal that gives it 16 per cent of the South African generic drug-maker.
Source: Financial Times

Nissan Motors reported a £1.6 billion loss for the financial year to March on Tuesday and warned of more red ink this year, though it predicted that cost cuts would return it to profit in 2010.
Source: Financial Times

Ferrari is ready to lead a breakaway of teams from Formula One after it announced it would quit the world championship if the Fédération Internationale de l'Automobile, motorsport's governing body, goes ahead with controversial plans for a £40 million budget cap and a two-tier system for regulating cars.
Source: Financial Times

Iberia has delayed its planned merger with British Airways after reporting an £83 million first-quarter net loss and warning that it was unlikely to make a profit this year.
Source: The Times

Unemployment in Britain jumped sharply to a 13-year high of 2.22 million in March, but the growth in jobless benefit claims has slowed.
Source: The Daily Telegraph