International Paper today announced the completion of its acquisition of a 75 percent stake in Andhra Pradesh Paper Mills (APPM) of India.

International Paper purchased 53.5 percent of the APPM shares from Mr LN Bangur and related family members and affiliates for approximately US$226 million in cash, plus $57 million for a covenant not to compete.

It has also acquired an additional 21.5 percent of APPM shares in a public tender offer completed on October 8, 2011, for approximately US$105 million in cash.

Energy giant BP has announced plans to invest almost £10 billion in developing four new North Sea oil and gas projects over the next five years.

The company said that the investment, which will be made with its partners, will help to maintain BP’s production from the North Sea “for decades to come”.

The UK government yesterday granted BP and its partners—Shell, ConocoPhillips and Chevron—approval to proceed with the £4.5 billion Clair Ridge project, the second phase of development of the Clair field complex, west of the Shetland Islands.

Canadian gold producer Agnico-Eagle Mines and Grayd Resource Corporation announced jointly today that Agnico-Eagle has formally commenced its $275 million take-over bid to acquire Grayd.

Agnico-Eagle is a long established gold producer with operations in Canada, Finland and Mexico and exploration and development activities in Canada, Finland, Mexico and the United States.

As countries across the globe wake up to the potential of wind power, business is booming for organisations operating within the wind energy sector.

According to RenewableUK and the Sector Skills Council for the power sector, employment in the UK’s wind power industry has surged over 91 per cent since 2007.

Rolls-Royce has announced a partnership with Pratt & Whitney to develop next generation engines for mid-size aircraft, as well as a restructuring of the companies’ International Aero Engines collaboration.

The new partnership will see the two companies developing engines for mid-size aircraft (capable of carrying 120 to 230 passengers) that will replace the existing mid-size fleet. Both companies will hold an equal share in the joint venture.

PepsiCo today reported growth in volume, net revenue, operating profit and earnings per share for the third quarter of 2011.

The company reported top-line gains across its worldwide snacks and beverage businesses and from the acquisition of Wimm-Bill-Dann (WBD), the leading dairy and juice company in Russia.

Worldwide snacks volume grew 8 percent in the quarter and 7 percent year to date, while worldwide beverage volume grew 4 percent in the quarter and 6 percent year to date.

Sainsbury’s, the UK’s third largest supermarket chain, today unveiled a new £1 billion sustainability plan.

The plan, called the Sainsbury's 20 by 20 Sustainability Plan, outlines 20 sustainability targets to be achieved by 2020.

Superior Energy Services has announced an agreement to acquire Complete Production Services for $2.7 billion.

The boards of directors of both companies have unanimously approved a definitive merger agreement combining the two companies into a diversified mid-cap oilfield services company.

New Orleans, Louisiana-based Superior Energy Services was founded in 1989 as an oilfield products manufacturing company before branching out into services.

Developing new IT systems is fraught with danger at the best of times; but as Alan Swaby learns, when you harness the power of 98 different customers, you become a force for change.

Not all are tainted, by any means, but in the UK a large number of IT projects for government departments or other public bodies are either long overdue, way over budget or both. As such, the sheer size of a commissioning agency is no guarantee of success—so it’s no bad thing to take a look at how it is being done successfully in a different arena.