Kampala - At least 20 people died after a brake failure caused an overcrowded bus to crash into a row of taxis late Wednesday in Kampala.

The brakes failed as the bus was edging up an incline. The driver lost control of the vehicle and it rolled down the road, colliding with at least 15 taxis and a few other vehicles.

The death toll could be much higher and many injured passengers were rushed to hospital, Central Broadcasting Service radio reported.

Washington - Nissan Motor Co and partner Renault SA are eyeing a 20-per-cent stake in Chrysler, as General Motors also pursues takeover talks with the country's third-largest automaker.

Nissan-Renault has long been reported to be interested in a deal. On Wednesday, the Detroit News cited people familiar with the matter, as saying the proposal has been submitted to Cerberus Capital Management LP, the current majority owner of Chrysler.

Germany's Daimler still owns 20 per cent of its one-time subsidiary.

Under the Nissan-Renault deal, Nissan would likely provide the financing as Renault is weighed down by 5 billion dollars in debts.

Washington - Wall Street indices continued their decline in midday trading Wednesday, adding to the gloomy mood on European markets as US investors reacted to depressed earnings reports.

Wall Street opened down 2.5 per cent and stocks slid in Asia, Europe's blue-chip Stoxx 50 index dropped 5 per cent to 2235 in late trading as concerns set in about the outlook for the global economy and profits.

Amman - Arab stock markets plummeted across the board on Wednesday on reports of a nearing global recession and ambiguity regarding the extent to which regional businesses were involved in the world financial crisis, financial analysts said.

The Tadawul All Share Index (TASI) of the Saudi stock exchange, the Arab world's largest bourse, fell 3.69 per cent, led by the Saudi Basic Industries Corp. (SABIC) and the banking sector.

The dropg brought to more than 10 per cent the decline in the Saudi market this week, a loss that wiped out last week's gains.