Russia's steel elite, with cash to burn from record profits, has accumulated almost 10 percent of US steelmaking capacity as it bets big that demand in the world's largest economy will ride out a global credit crunch.
In a bid to reinvigorate lackluster US traffic, Starbucks Corp introduced a new, everyday brew called Pike Place Roast yesterday and for 30 minutes handed out free 240 ml samples.
Novartis AG agreed to buy a 25 percent stake in Nestle SA's Alcon Inc for $11 billion and said it may acquire the rest to become the world's biggest maker of eye-care products.
E.ON AG, Germany's biggest utility, is planning to build a 700 million-pound wind farm off the coast of Yorkshire in northeast England. The planning application for the project was submitted yesterday.
Lachlan Murdoch, eldest son of News Corp Chairman Rupert Murdoch, scrapped plans to buy Consolidated Media Holdings Ltd for A$3.2 billion ($2.9 billion).
AOL's move to New York this month may signal the last chance for Time Warner Inc's Internet division to convince investors it has a future in advertising.
Schering-Plough Corp said it will cut 10 percent of its jobs and shut plants to save $1.5 billion annually, two days after a panel of doctors said its cholesterol pill Vytorin shouldn't be used as an initial treatment.
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Raymond Zhou
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