General Motors to relocate international division: "An acceleration of globalisation efforts now requires a closer interaction of key executives representing our corporation's different business sectors," GM chairman and chief executive Jack Smith said in the statement. "Having Lou (Hughes) and members of his team based in Detroit will enable us to work even more effectivelywith one another," Smith said. General Motors had said in February that it was studying whether to relocate top international executives back to Detroit.

S&P rates Enterprises Shipholding "BB": Standard & Poor's assigned its double "B" corporate credit rating to Enterprises Shipholding Corp. and also expects to rate the company's proposed Rule 144A $175 million senior unsecured notes at double "B". The outlook is stable. The rating reflects the worse-than-average characteristics of the shipping industry and an aggressive capital structure, but benefits from the relatively large fleet size, long term charters and efficient, low cost operations.

Australis to continue business as usual: Australis said it would continue business as usual, and its contracts remained in full force, "including the lucrative 25-year sub-distribution agreement with News Corp Ltd and Telstra Corp ". "Specifically, employee, program supplier and other creditor payments will continue to be made as and when due, andsubscribers to the Galaxy channels will continue to receive uninterrupted services," Australis said.