Europe

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.

A modern broadcasting and telecommunications company providing a full range of voice, data and internet services across the Czech Republic, as well as TV and radio broadcasting. The company’s aim is to develop and strengthen its market position by continual improvement of services.

A joint venture between BP and a group of Russian billionaires, represented by the Alfa-Access-Renova consortium, TNK-BP is currently recognised as the country’s third-largest oil producer in terms of reserves and crude oil production. BP’s stake in TNK-BP is believed to be worth between $25 billion and $28 billion. It is thought that, as part of any deal, BP would receive a stake of up to 20 percent in Rosneft.

New research from Ricoh reveals 79 percent are unable to maximise technology.

Ageing back office legacy systems are holding back 79 percent of European businesses from fully streamlining their business critical document processes, according to new research published this week by Ricoh Europe.

Founder and president Paolo Trocca talks about an engineering company that has made a name for itself in the Middle Eastern oil business by playing it straight.

There is an oil and gas industry in Italy – but not much of one. In 2008, the BP Statistical Energy Survey estimated oil production there at an average of 121,000 barrels of crude oil per day or 0.15 percent of the world’s total.

Chief executive officer Daniel Szasz talks about how the company is contributing to the development of Macedonia’s telecommunications industry.

In the years since gaining independence from the former Yugoslavia, Macedonia has undergone considerable economic reform. In fact, its development of an open economy saw the country ranked as the fourth ‘best reformatory state’ out of 178 countries rated by the World Bank in 2009.

Following the recommendation of Xstrata’s board of directors to its shareholders to back the merger terms offered by the commodities trader, a vote will now be held on whether to accept the offer of 3.05 Glencore shares for every Xstrata share.

Should said offer by accepted, the merger is expected to bring together the respective strengths of the two companies, thus creating a unique natural resources company boasting a virtually unparalleled level of experience, industry know-how and expertise.