DaimlerChrysler chief defiant despite alliance failure

The chief executive of DaimlerChrysler, one of the world's biggest carmakers, has no intention of stepping down, despite the failure of an alliance with Mitsubishi Motors.

DaimlerChrysler announced yesterday it is to put the brakes on all further financing for Mitsubishi Motors, saying it would not pump any more cash into the loss-making Japanese firm.