Russian car giant to slash 27,700 jobs: Report

Russian car giant Avtovaz, maker of the Lada model, is to cut almost 27,700 jobs in response to a drastic slackening in demand due to the economic crisis, a news agency reported Monday.

SKorean economy grows 2.3% in Q2

Surging exports and consumer spending fuelled growth of 2.3 percent for South Korea`s economy in the three months to June, its fastest rate in more than five years, data showed Friday.

US recession easing but likely not over: Survey

The US recession`s grip on the economy appears to be easing but likely has not yet ended, according to a survey of economists released on Monday.