up: BP in $8bn share buyback 22 March 2013 Last updated at 11:25 Cypriot President Nicos Anastasiades has been holding talks on the crisis with the EU-IMF "troika." The implications of the Cypriot crisis for the eurozone have not been lost on the financial markets. Shares have been having an erratic time in Europe, with Frankfurt's Dax index and the Paris Cac 40 in negative territory. London's FTSE 100 index, however, had pulled out of its slump by the end of the morning. China needs a "renewed reform momentum" to sustain long-term growth, the Organisation for Economic Co-operation and Development (OECD) has said. It said the financial sector, urbanisation, state ownership and innovation were key areas for reforms. In company news, drinks giant Diageo has announced plans to shed about 80 jobs across a number of its sites in Scotland. And thousands of staff at the UK's Post Office will strike on Easter Saturday in a dispute over shop closures, jobs and levels of pay. The latest Business Daily podcast from the BBC World Service looks at the car industry. There are now more than a billion cars in the world and the number is growing rapidly. Can cutting-edge car technology help to prevent global gridlock?