The BBC reports that Sergio Marchionne, who heads carmakers Fiat in Italy and Chrysler in the US, has retracted comments that upset governments in both countries.

On Friday, he called the US and Canadian bail-out of Chrysler "shyster loans" because of the high interest.

He also appeared to suggest Fiat could eventually merge with Chrysler, moving its head office from Turin to the US.

www.bbc.co.uk/news/business-12379630