THE European Central Bank (ECB) said it will lend banks €111.2 billion for six days to help them cope with the expiry of its landmark 12-month loan.

Daimler AG has said it will cut back the number of hours that workers on production lines at its Mercedes-Benz truck plants are on the job, citing weaker demand from customers and a dip in orders.

The United Auto Workers union and Chrysler remained locked in negotiations this morning as workers in Detroit prepared for the picket lines.