Washington - Under government pressure to prove its viability by June 1 and bracing for a prolonged recession, General Motors on Thursday announced an unprecedented series of nationwide summer plant shut-downs to reduce ballooning inventory.

Meanwhile, with an April 30 deadline looming for the smaller Chrysler, the government was already drawing up a bankruptcy filing that would protect Chrysler union members' pensions and retiree health-care benefits, The New York Times reported.

San Francisco - Amazon.com posted an 18-per-cent boost in sales and a 24 per cent rise in profits as the online retail giant shrugged off the effects of the economic downturn.

The Seattle-based retailer said that it earned 177 million dollars in the first quarter, compared to 143 million dollars a year ago. Sales were up to 4.89 billion dollars compared to 4.13 billion dollars a year ago.

FMCG company Marico has finally agreed to sell its stake in Sundari LLC to US-based Wellness Systems (WS), for an undisclosed amount.

Sundari LLC is engaged in the manufacturing and marketing of skincare cosmetics and accessories, primarily in the US and Europe.

While, Wellness Systems is a limited liability company promoted by two of Marico Group's senior managers who were in charge of the Sundari business.

However, it should be noted that the transaction is, subject to necessary regulatory approvals.

The Plan B pill which was initially only available to 18 year olds and above will now be made available to 17 yr olds and above, and that too without a prescription. Food and Drug Administration revealed on its website that a federal court ordered that the emergency contraception pill be made available over the counter to those 17 and up.

Washington - US President Barack Obama met Thursday with leaders of the credit-card industry, urging them to end unfair practices that are raising costs on indebted consumers, while US lawmakers are considering a wider crackdown on the sector.

Obama said he hoped to create a new system that "eliminates some of the abuses" including sudden interest-rate hikes and late-payment fees, which have added to unmanageable debts for some US consumers.

Washington  - The fifth and last mission to repair the ageing Hubble Space Telescope could launch a day earlier than planned, officials at the US space agency said Thursday.

The space shuttle Atlantis was to take off from its Florida launch site on May 12 and could likely take off at 2:01 pm (1801 GMT) on May 11, officials at the National Aeronautics and Space Administration (NASA) said.

"I'm fairly confident that we can make a May 11 launch date," said LeRoy Cain, deputy manager of the Space Shuttle Programme.