Next-generation mid-sized Volvo S60 has been unveiled at the Geneva Motor Show.

The Volvo S60, which is a replacement for the original S60 that was launched in 2000, has new steering column created from solid steel that provides more precise steering.

The new car is equipped with stiffer bushings than the S80. Its re-engineered front struts resist cornering forces in a better way.

Original S60, which hit the roads in 2000, had gained some attraction in the beginning but later on lost that attraction too.

Avis Budget Group Inc. is reported to raise the size of its planned note offering by $50 million to $450 million as the offering was priced.

The car-rental giant last week announced that it planned the sale to pay down other debt.

The eight-year notes will bear a 9.625% coupon, below market expectations on Friday.

According to the deal, Avis will conclude an amendment to its senior credit facility that squeezes its maximum size to $1.5 billion and raises the maturity of about $1.25 billion by two years.

One of the leading recruiting firms in London has said that Banks have resumed hiring at a much higher level when compared to last year.

A professional services recruiter, Michael Page has said that it is seeing requests to fill twice the number of banking jobs when compared to a year ago. Resumed hiring shows the difficult period in the sector is coming to an end.

Steve Ingham, chief executive of the firm said that banks which cut payrolls severely during the financial crisis are now beginning to scale up operations in London again.

Forth Ports, UK's last independently listed port operator has rejected an acquisition bid from a consortium which valued the company and its assets at £612m.

The consortium which launched the bid already has a 27.4 per cent stake in the company. It indicated that it would consider raising the bid price further however under stringent conditions.

Britain's Prudential Plc has agreed to pay $104 million per month if the deal to acquire the Asian unit of American International Group does not close by August 31 along with a termination fees of $231 million.

According to a filing with the U. S. Securities and Exchange Commission, Prudential has agreed to pay 0.4 percent, of the cash consideration outstanding per month from September 1 to American International Assurance incase the deal breaks down.

The Prudential is spending billions on acquiring AIA to become a big player in the Asian insurance market, but its rival Aviva shrugged off Prudential’s growth plans, saying it would focus on Europe rather than Asia.

Britain's second-largest insurer Aviva’s chief executive Andrew Moss has described Prudential’s planned takeover of AIA for $35.5 billion as "audacious".

Mr. Moss added that European insurance market would grow faster than Asian.

British defence services firm VT Group dropped on Thursday its plans to acquire smaller rival Mouchel and announced that it would open its books to Babcock International, moving a step closer to the potential deal.

VT had offered 330 million pounds for Mouchel on February 15, the same day that Babcock International showed its interest in acquiring VT.

Babcock International had been asking VT to provide it access to its books so that it could identify the level of synergies available from the possible deal.