Zaragoza, Spain  - General Motors Europe will file for bankruptcy protection unless it urgently obtains 955 million euros (1.2 billion dollars) to cover immediate payment needs, employees' representatives at a Spanish GM factory said in a statement Wednesday.

The works committee referred to information given after GM European management and employees' representatives met Tuesday in Ruesselsheim, Germany.

State run Bharat Earth Movers Limited (BEML) said that it has signed up a strategic deal with Indonesia based Sumber Mitra Jaya.

The top mining and construction equipment manufacturing company signed the deal to bid for forthcoming contract mining business.

The consortium approach consists of agreement for investments in contract mining in which BEML will make 30% investment, while the remaining 70% will be made by the Indonesian company.

The big news doing the rounds is that cement companies has decided to hike the cement prices by Rs 2-4 per bag.

While confirming the development, H.M.Bangur (MD, Shree Cements) said, “There is no price rise due to shortage but it is done as an effort to cover up cost.”

Bangur added that the company has passed on the benefit of excise duty cut on bulk cement to its customers, however prices of cement bags have risen as there was no relief for those products.

At present, the industry capacity utilisation stands at 85% versus 95%.

Signs up 70% of Indian online advertisers

Microsoft's $47 billion plan to buy Yahoo may have come unstuck, but that has not prevented the giant from Redmond from aggressively pursuing the online ad market.

Construction equipment major inks agreement with Indonesian firm to bid for domestic deals

JSW Steel Ltd is believed to have placed orders to import 4,00,000 tonnes of coal at renegotiated lower prices by the end of this fiscal.