US and Canadian courts are expected on Tuesday to approve Swedish firm Ericsson's $1.1 billion (Ôé¼770 million) bid for most of the core wireless assets of Canadian telecoms equipment company Nortel Networks.

The worldÔÇÖs largest steelmaker, ArcelorMittal, is reportedly exploring a joint venture spinoff of its stainless steel business worth an estimated ┬ú1.82 billion.

US refiner Valero Energy may be seeking to make a bid for New Zealand Refining, which owns the Australasian countryÔÇÖs only oil refinery, according to reports.  NZ Refining also makes 70 percent of all New ZealandÔÇÖs fuel. ┬áSan Antonio, Texas-based Valero is said to be interested in either a majority stake or full ownership of the company.  Seventeen percent of NZ refining has been up for grabs since Royal Dutch Shell, EuropeÔÇÖs largest oil company, revealed it was looking to sell its stake.

Spain's Cosmen family has teamed up with private equity group CVC to make a joint takeover bid for UK transport group National Express, in a deal that could be worth over £500 million.

Spain's Cosmen family has teamed up with private equity group CVC to make a joint takeover bid for UK transport group National Express, in a deal that could be worth over £500 million.

Online retailing giant Amazon has agreed to buy online shoe retailer Zappos for around $928 million, the biggest acquisition in its fourteen-year history.

The UK government has announced a £1.1 billion rail electrification programme for two of its major lines.

UKÔÇÖs ┬ú1.1 billion rail electrification The UK government has announced a ┬ú1.1 billion rail electrification programme for two of its major lines.The London to Swansea route will be electrified over the next eight years at a cost of ┬ú1 billion, as will lines between Liverpool and Manchester at a cost of ┬ú100 million.The upgrade is in line with the governmentÔÇÖs commitment to reduce carbon dioxide emissions from transport by 14 per cent by 2020.Only around one third of the UKÔÇÖs 20,000-mile rail network is currently electrified, compared with 100 per cent in Switzer

The UK government has announced a ┬ú1.1 billion rail electrification programme for two of its major lines.  The London to Swansea route will be electrified over the next eight years at a cost of ┬ú1 billion, as will lines between Liverpool and Manchester at a cost of ┬ú100 million. Only around one third of the UKÔÇÖs rail network is currently electrified, compared with 100 per cent in Switzerland, 77 per cent in Sweden and 69 per cent in Italy.  Electric trains are lighter and more energy-efficient, making them around 35 per cent cheaper to operate.

The UK government has announced a £1.1 billion rail electrification programme for two of its major lines.