• While the chiefs of Detroit’s big three automakers are still employed despite their companies’ dismal results, not all executives are so fortunate. As Lenovo, the Chinese computer maker, reported a sharp decline in sales and profit, its American chief executive, William Amelio, was replaced. The company is the latest tech giant to be hit by the pullback in corporate spending, providing further evidence that PCs upgrades are one expense that companies are prepared to put off during the recession.

• Stock-options backdating is no longer confined to tech companies in Silicon Valley. Executives from Toronto-based BlackBerry maker Research in Motion have agreed to pay nearly $75m to settle charges related to their role in backdating that occurred between 1996 and 2006.

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