New York - Months after increasing his stake in Ford Motor Company, billionaire investor Kirk Kerkorian is pulling back from the suffering automaker.

His Tracinda Corp sold 7.3 million shares of Ford stock on Monday for 2.43 dollars each, he had purchased the shares for 8.50 dollars earlier this year. Tracinda is also considering unloading its remaining 133 million shares.

The move comes days after Kerkorian had put 50 million shares of his MGM Mirage casino behind the 600-million-dollar credit line he had used to buy Ford stock, Bloomberg financial news reported.

Tokyo - Nissan Motor Co on Tuesday announced a

Trinamool Congress chief, Mamata Banerjee has demanded apology from TATA chief Ratan Tata. She criticized him for his derogatory remarks in his letter.

TATA has written an open letter to the people of the state describing circumstances that led to relocation of his dream car project from the state. The letter was published in all leading newspapers of Kolkata. He specifically mentioned the negative role of Trinamool in Singur pull out.

New York - Amidst merger talks between struggling US auto leader General Motors and the third-largest US automaker Chrysler, the Wall Street Journal reported Monday that up to 40,000 jobs could be sacrificed in the deal.

The report quoted unnamed insiders.

Jaguar Land Rover is planning to shed around 200 jobs in its UK operations. Jaguar Land Rover is a leading automotive company owned by TATA group. The company wants voluntary layoffs of its production staff from its plants located in Merseyside in Northern England, Birmingham and Solihull in Central England. The company would provide nine months salary to retrenched staff and pension to over-sixty staff.

The letter of TATA group chairman, Ratan Tata surprised the political and business class of the country.

His “open letter to the citizen of West Bengal” is published in the leading newspapers of Kolkata. He has explained the circumstance under which TATA has to leave Singur in West Bengal. Ratan Tata strongly criticized the role of Trinamool Congress leader, Mamta Benergee and other vested interests.