As per the international reports, following a sponsorship deal signed with the Indian automobile giant, the Tata brand name will figure on Formula 1, the world’s most-famed motorsport, which is being considered an ambitious global branding move.

President Luca di Montezemolo reported, “For the first time an Indian brand will appear on the Ferrari. It’s historic.” Although the details and duration are being worked out, a Ferrari spokesperson confirmed the deal.

Tokyo  - Japan's largest car company, Toyota Motor Corp, was expected to run into the red this fiscal year in its first annual operating loss ever, according to the Japanese financial newspaper Nikkei Friday.

In addition to the worldwide financial crisis, the rapid rise of the value of the Japanese currency, the yen, were named as the main reasons, according to the story, which did not cite sources.

Toyota plans a year-ending press conference Monday at its headquarters in Nagoya, at which is was also expected to substantially sink its earnings forecast for its group, which included Daihatsu and Hino Motors.

Toyota in early November drastically reduced its expectations for its current business year, which ends March 31.

Tokyo  - Japan's largest car company Toyota is expected to run into the red for the year for its first annual operating loss ever, according to the Japanese financial newspaper Nikkei Friday.

In addition to the worldwide financial crisis, the rapid rise of the value of the Japanese currency, the yen, were named as the main reasons, according to the story which did not cite sources.

Toyota in early November drastically reduced its expectations for its current business year, which ends March 31.

San Francisco  - Is the US going to switch its dependence on foreign oil for a dependence on foreign battery makers? That's the question posed Thursday by a consortium of US firms who announced their intention to ask the incoming administration of president-elect Barack Obama for a billion-dollar boost.

The National Alliance for Advanced Transportation Battery Cell Manufacture plans to build a plant in the US to research and manufacture advanced lithium ion batteries for hybrid and electric cars that are currently made almost exclusively in Asia.

Washington  - US President George W Bush Bush is weighing whether to endorse a structured bankruptcy for ailing automakers to prevent a "disorderly collapse" of the industry, the White House said Thursday.

"The president is not going to allow a disorderly collapse of the companies," spokeswoman Dana Perino said. "That is not an option."

"There's an orderly way to do bankruptcies that provides for more of a soft landing," she added. "I think that's what we would be talking about."

Washington  - Hoping to avoid bankruptcy, ailing US carmaker Chrysler LLC on Friday will shut down all of its manufacturing plants for at least one month because of plummeting car sales, the company announced Wednesday.

Chrysler's announcement comes after US lawmakers last week failed to agree on a 14-billion-dollar emergency loan for the US car industry. Chrysler and General Motors Corp have said they do not expect to survive without federal aid.