The $7 billion (£4 billion) sale of BP’s 60 per cent interest in Pan American Energy to Bridas Corporation has collapsed, the company has announced.

The deal had been delayed because the Argentine anti-trust and Chinese regulatory approvals required to complete the transaction had not been obtained by Bridas, BP said.

Armstrong World Industries, Inc. today announced the acquisition of Intalite Inc., operating under the name Simplex and based in Montreal, Quebec, Canada.

Simplex designs, develops and manufactures specialty metal ceiling systems for a wide range of market segments and applications, with sales primarily in the United States and Canada.

Mining giant Anglo American has agreed to acquire the Oppenheimer family’s 40 per cent interest in De Beers for US$5.1 billion, taking its own stake up to 85 per cent.

Global oil & gas transactions rose 53 percent to $43 billion in the third quarter of 2011, compared with $29 billion in the second quarter of the year.

International database and services provider PLS, Inc. and Derrick Petroleum Services report 166 transactions with deal values disclosed, with $90 billion of deals currently in play.

Proposals for a four-runway airport in the Thames Estuary were unveiled yesterday by Lord Foster, the founder of UK architects Foster & Partners.

The Thames Hub would encompass a new flood barrier and river crossing, rail and shipping infrastructure and an international airport at the Isle of Grain in Kent.

The project was unveiled by Foster & Partners alongside planners and builders Halcrow and consultancy group Volterra.

The Bank of England has issued a new-style £50 note into circulation as of 2 November 2011.

The note features the renowned 18th century business partnership of entrepreneur Matthew Boulton and engineer James Watt.

UK engineering company Costain has been awarded a £400 million contract to redevelop London Bridge Station, it has been announced.

Under the terms of the contract from Network Rail, which is worth £400 million over a five-year period, Maidenhead, Berkshire-based Costain will carry out the detailed design and delivery of the project.

Global electronics manufacturing services company Sanmina-SCI Corporation today reported financial results for the fourth quarter and fiscal year ended 1 October 2011.

The San Jose, California headquartered company reported revenue for the fourth quarter of $1.70 billion, compared to $1.67 billion in the prior quarter and $1.69 billion for the same period of fiscal 2010.

Revenue for the year ended 1 October 2011 was $6.60 billion, up 4.5 percent compared to $6.32 billion for the fiscal year ended 2 October 2010.

Tullow Oil has agreed new production sharing contract (PSC) arrangements with the government of Mauritania and its joint venture partners, allowing it to progress exploration in the country.

Tullow said the deal would enable it to progress the appraisal and development of existing discoveries and pursue exploration in a new contract area covering 10,725 square kilometres, with Tullow as operator.