FRANKFURT - GERMAN luxury sportscar maker Porsche sought to deflect talk of bankruptcy on Monday after acknowledging it had borrowed hundreds of millions of euros from Volkswagen and needed billions more.

PARIS - SANOFI Pasteur, the world's largest vaccine maker, said Monday it has won a $190 million (S$274 million) order from the United States government to make a swine flu vaccine.

ABU DHABI - THE world economy has avoided 'utter catastrophe' and industrialised countries could register growth this year, Nobel Prize-winning economist Paul Krugman said on Monday.

'I will not be surprised to see world trade stabilise, world industrial production stabilise and start to grow two months from now,' Prof Krugman told a seminar.