Canpotex, the export consortium of Canadian potash producers, has signed a deal to sell around 350,000 tonnes of potash to ChinaÔÇÖs Sinofert.  Vancouver-based Canpotex said the sale was agreed at an undisclosed ÔÇ£competitiveÔÇØ price.  The deal will come as welcome news after a year where there was no annual sales agreement between Canpotex and ChinaÔÇöa key factor in the downturn that affected the Canadian potash industry.  In December, a consortium of European potash producers signed a year-long agreement with China to sell the fertilizer for US$350 a tonne.

The Japanese car maker Toyota has confirmed it is recalling about 437,000 Prius and other hybrid cars worldwide to fix brake problems.

Indian conglomerate Reliance Industries is considering buying the bankrupt Canadian oil sands group Value Creations for about $2 billion, according to a report in UK newspaper the Financial Times.

Vodafone Group, the world's largest mobile phone operator by revenue, has secured a four-year deal to provide Oracle Corp mobile services in its EMEA region.

The industrial gas company Air Products and Chemicals will today launch a hostile bid for its smaller rival, Airgas.  Air Products, the worldÔÇÖs largest hydrogen producer, is to offer $60 per share for Airgas, representing a 38 percent premium above ThursdayÔÇÖs closing share price of $43.53. Including the assumption of $2 billion of debt, the deal values Airgas at $7 billion.  A merger between the two companies would create the largest industrial gas maker in North America by revenue.

Abu Dhabi Investment Authority, the sovereign wealth fund, is preparing to take a stake of up to 15 per cent in LondonÔÇÖs Gatwick Airport.

Amazon has purchased flexible touch screen maker Touchco in an apparent attempt to better compete against Apple's new product, the iPad.  It is thought that Amazon plans to use the technology developed by Touchco to offer a touch-screen interface with its Kindle e-readers.

A new offshore crude oil field has been discovered in the emirate of Dubai, the government has announced.

Kraft Foods has won control of UK confectioner Cadbury after holders of almost 72 percent of the companyÔÇÖs shares accepted the $18.6 billion takeover.  The deal, which brings a five-month battle over the company to an end, will create the worldÔÇÖs biggest confectioner.  Once Kraft gains 75 percent of Cadbury's shares, it can delist them. At more than 90 percent, it can force remaining Cadbury shareholders to sell.  Kraft needed just 50 percent plus one share to take control of Cadbury.

Telecom Italia and SpainÔÇÖs Telef├│nica may be seeking to merge, it has been reported.