The announcement comes as a time when global airlines have been increasing their levels of cooperation in the face of rising fuel prices. Reacting to the news, analysts state that it shows that Singapore Airlines, the second biggest airline in the world, is backing Virgin to counter the threat Qantas poses in Asia’s lucrative aviation market.

The New York Stock Exchange will be closed today and potentially tomorrow as Hurricane Sandy threatens to unleash unprecedented havoc on the US east coast.

We generally think of hurricane season as affecting Florida and the Caribbean in August and September. It’s not something readily associated with New York City in October.

This is, in fact, the first time since Hurricane Gloria in September 1985 that the stock market has closed for a full day because of the weather.

Under the terms of the deal, the two will run a joint venture dubbed Penguin Random House, with Bertelsmann owning 53 percent, while Pearson will hold 47 percent.

The deal marks the first ever tie-up between any of the world’s six biggest publishers, yet such a move has been seen as an inevitability with experts pointing to the need for firms to adapt to changes within the market.

A total of 224 applications covering 418 blocks were lodged, the most ever in one round, with 330 new licenses awarded and a further 61 facing environmental assessment.

The strong level of interest that continues to be shown in the North Sea, together with the wide range of companies that have successful gained new acreage in recent years, supports the views of experts that substantial value remains in the region for well-funded explorers and producers.

United Technologies Corp is selling the former Goodrich Corporation pump and engine control systems business to TransDigm Group Incorporated for approximately $236 million in cash.

The transaction is subject to regulatory approvals and customary closing conditions, but closing is expected late this year or early in 2013.

Crises are for multinationals, aren’t they? It could never happen to you, could it? If not managed correctly, however, a crisis can spell the end for a company’s brand reputation.

The deal, valued at $225 million, is expected to be complete by the end of the year and follows Nike’s earlier announcement that is looking to sell off the firm, which specialises in the manufacture of football kits.

"It is difficult to divest any business, but this action will enable us to focus on our highest-potential growth opportunities," said Nike boss Mark Parker. "Umbro has a great heritage but, ultimately, as our category has evolved, we believe Nike football can serve the needs of footballers on and off the pitch."

Through the work of its Respondez brand, Spanco Limited has introduced its outsourcing solutions to Africa’s thriving telecommunications sector.

Though still in its relatively early stages of development, Africa’s telecommunications market is lauded as being one of the fastest-growing in the world. Throughout the 2000s, mobile telephony across the continent, particularly in sub-Saharan nations, skyrocketed to the point where today it is substantially more widespread than its fixed line equivalent.

Westshore, with a capacity of 29 million tonnes per annum, is far and away the largest coal terminal in Canada handling more than the combined capacity of other ports on the North American west coast.