Electrolux, the Swedish-based producer of home appliances, has made an offer to buy South KoreaÔÇÖs Daewoo Electronics.

Houston-based oil major ConocoPhillips has told Russian oil producer Lukoil that it plans to sell as much as half its 20 percent stake in the company.

TNK-BP, BP's Russian oil venture, has said it aims to sell its vast Kovykta gas field to Rosneftegaz, RussiaÔÇÖs state holding company, by the end of the year.

Coal miner Peabody Energy Corp. has purchased a $15 million equity interest in Calera Corp., the company with the proprietary technology to convert carbon dioxide into green building materials.  CaleraÔÇÖs technology captures carbon dioxide emissions from coal or gas fueled power facilities, cement plants and refineries, before converting it into solid carbonates such as cement-type materials that can be utilized in the construction process. Every ton of building material produced┬áis expected to store as much as half a ton of carbon dioxide.

Babcock International will today be transformed into a £2.5 billion player in the defence services industry through its £1.3 billion takeover of rival VT Group.

Calgary-based Nexen and oil major Royal Dutch Shell have announced a "significant" oil discovery in the eastern Gulf of Mexico.

A ┬ú2 billion ÔÇÿgreen bankÔÇÖ that finances environmentally friendly transport and energy projects will be at the heart of the UKÔÇÖs 2010 Budget, which is being unveiled on Wednesday.

Time Warner Inc. is considering making a second-round bid of up to $1.5 billion for Hollywood studio Metro-Goldwyn-Mayer (MGM).  Others expected to participate in the bidding process, which ends today, include Access Industries and the independent studio Lions Gate, which is said to have made a bid of between $1.4 billion to $1.8 billion. Reports suggest that Access has indicated it could make an offer of as much as $2 billion. New York-based Time Warner is the parent company of Warner Bros and owns cable networks such as CNN and TNT.

Mining company Rio Tinto says it has signed a deal with China to develop a massive iron ore project in West Africa.

Google is working with Intel, Sony and Logitech to bring web software to televisions, according to reports.  The project, called Google TV, will combine the company's Android mobile operating system and applications with television devices made for the operating system, including set-top boxes.