Europe

The development, which will be located in the Outer Moray Firth, will include the construction of two neighbouring projects, one headed up by Moray Offshore Renewables Limited and the other by Beatrice Offshore Windfarm Limited. The combined development will involve a total of 326 turbines, making it the world’s third biggest offshore wind farm, one capable of generating electricity for more than one million homes. It is estimated that at the peak of construction of the turbines the project could provide work for up to 4,600 people.

Vodafone will pay €7.2 euros to acquire the private equity-owned business which offers cable TV and internet services to its more than 1.9 million Spanish customers.

This latest move furthers Vodafone’s expressed plan to spend up to £25 billion of the £84 billion generated from the sale of its stake in Verizon Wireless on investment in core European networks. It also comes six months after the company purchased a controlling stake in German cable operator Kabel.

Over ten million passengers made the 31 mile journey under the Channel between England and France, resulting in sales of more than €1 billion. This ultimately saw Eurotunnel register a net profit totalling €101 million, up from the €32 million it recorded in 2012.

The company has now set a €500 million earnings target for 2015 when it expects to pay tax on its profits for the first time.

Vale's Clydach Refinery, one of the largest in Europe, has become the first company in the UK and only the second in Europe over in the 25 years since the awards were inaugurated, to be awarded the prize, dubbed the "Nobel Prize of Manufacturing" by Business Week.

Rising sales and an increase in demand from China, seen by the Danish company as being a future core market, contributed towards the toymaker’s profits of 6.12 billion kroner ($1.12 billion).

The world’s second largest toymaker, behind Mattel, has been increasingly looking towards Asian markets as a way to boost future sales. "During the coming years the Lego Group expects to grow moderately ahead of the global toy market that is expected to grow low single digits," said Lego in its annual report.

Europe’s largest aerospace group saw net income rise by 21 percent in 2013 to €3.6 billion, while revenues rose five percent to €59.3 billion.

The past year witnessed the group delivering a record 626 planes, with Airbus expecting to deliver a similar number this year. Included in this will be an increasing number of its A320 jets, with production to expand to 46 planes a month from 42 by 2016.

The world’s second largest mining firm has reported a full year net income of $3.7 billion, reversing a $3 billion loss in 2012. As a result it is increasing its annual payout to shareholders by 15 percent to $1.92 per share.

"These strong results reflect the progress we are making to transform our business and demonstrate how we are fulfilling our commitments to improve performance, strengthen the balance sheet and deliver greater value for shareholders," Rio Tinto chief executive Sam Walsh said in a statement.

Dr Cornelius’ new firm, Nebula Resources, has been awarded three licences in the Irish Sea, where he believes large volumes of offshore shale gas could be extracted. If the firm was to be successful in such a venture it would result in the first such project in the world.

The area covered by the Nebula licences stretches west from Blackpool into Morecambe Bay. Based on existing geological data, Dr Cornelius believes that up to 250 trillion cubic feet of gas may be in place here, while there is also the possibility of finding oil.