Carmaking giant Ford posted a surprise second-quarter loss of $123m

BBC NEWS | Business | Carmaker Ford hit by $123m losses

Carmaking giant Ford posted a surprise second-quarter loss of $123m (£66.5m) as sales of sport utility vehicles (SUV) fell on higher petrol prices.

The firm is shutting 14 plants and cutting up to 30,000 manufacturing jobs in North America by 2012.