US mining company Peabody Energy has submitted an unsolicited $3 billion bid for Australia's Macarthur Coal.

Bharti Airtel has signed a deal to buy most of the African operations of Kuwait's Zain for $9 billion (Ôé¼6.7 billion), making it AfricaÔÇÖs number two mobile phone operator.

Montreal-based Domtar is selling its forest products business to lumber company Eacom Timber Corp. for $80 million, it has been announced.

The Swedish telecoms equipment group Ericsson has announced deals with China Mobile and China Unicom worth a total of $1.8 billion (Ôé¼1.3 billion).

Ford is to sell its Swedish subsidiary Volvo to the Chinese car manufacturer Geely in a deal that values the company at up to $1.8 billion.  Under the terms of the deal, Geely will acquire 100 percent ownership of Volvo, its assets and intellectual property rights. The acquisition is the biggest overseas purchase by a Chinese car manufacturer.

UK pharmaceutical firm GlaxoSmithKline is seeking partnerships with small and medium sized companies in Japan to assist it in developing and distributing new medicines, according to a report in the Financial Times.

The casting vote In need of greater capacity and the ability to manufacture special alloys, National Bronze & Metals elected to build a complete new foundry in Lorain, Ohio, president Michael Greathead explains to Ruari McCallion. National Bronze & Metals, Inc. (NBM) has been in the business of brass, bronze and copper alloys since 1983.

The Canadian pension fund Ontario Teachers' Pension Plan (TeachersÔÇÖ), is to buy the UK firm Camelot, which runs the country's National Lottery, it has been announced.  The deal, which is worth around ┬ú389 million (C$590 million), is subject to approval by the National Lottery Commission, which licenses and regulates gambling in the UK. TeachersÔÇÖ beat off competition from the private equity firm CVC Capital Partners, which also bid for Camelot. Camelot has been running the UKÔÇÖs National Lottery since it started in 1994.

The UKÔÇÖs Ministry of Defence has awarded submarine and warship contracts worth a total of ┬ú427 million to BAE Systems.

CanadaÔÇÖs Ivanhoe Mines has announced it is in talks with potential investors for its gold property in Kazakhstan.  Vancouver-based Ivanhoe has increased its stake in Altynalmas Gold, which owns 100 percent of the Kyzyl gold project, to 50 percent from 49 percent, as it works towards bringing the project into commercial production.  Ivanhoe has said it is in discussions with potential strategic investors, including established gold industry players and sovereign wealth funds that have expressed an interest in the development of Kyzyl.