Portugal Telecom, PortugalÔÇÖs largest telecoms service provider, has said it will turn to the high-growth markets of Africa and Brazil to increase its market share, the Financial Times reported.

Chinese solar panel maker Suntech Power Holdings is planning to build a 100,000 square foot headquarters and manufacturing plant in the Phoenix area of Arizona.  The company said the facility will start building solar panels by the third quarter of 2010 and will eventually employ 250 or more people.  Suntech selected the Phoenix area for its plant because of ArizonaÔÇÖs leadership in solar research through Arizona State University and the stateÔÇÖs renewable energy policies.  It marks a major step in the firmÔÇÖs long-term plans to increase its market share in the US.

Italian chocolatier Ferrero is reported to be in talks with friendly investors over forming an alliance with UK confectioner Cadbury, according to ItalyÔÇÖs Il Sole 24 Ore newspaper.

Suncor, CanadaÔÇÖs largest energy company, has unveiled a 2010 capital spending budget of C$5.5 billion, up from this yearÔÇÖs C$3 billion.  Almost C$1.5 billion will be directed to fund growth projects, while the remainder will be spent on sustaining current production operations. Suncor has confirmed that C$900 million will be spent on the third phase of the C$5 billion Firebag project, which was only half completed when it was mothballed in January this year.  Firebag uses steam to pump oil out of the ground.

UK engineering firm Rolls Royce has won a $2 billion (£1.2 billion) contract to supply engines to Air China and Ethiopian Airlines.

Cable operator Liberty Global has announced it will acquire German broadband cable operator Unitymedia for $5.2 billion. The takeover, which is expected to be completed in the first half of 2010, is designed to boost Liberty GlobalÔÇÖs presence in the European marketplace. The Englewood, Colorado-based firm, which is controlled by US cable pioneer John Malone, is already active in areas of Europe such as Austria, the Netherlands, Poland, Hungary and Romania.

British Airways and Spanish airline Iberia have announced a preliminary agreement to merge from late 2010, following 16 months of negotiations.

Computer and printer giant Hewlett Packard (HP) has announced that it has acquired 3Com, a provider of computer network equipment, for $2.7 billion in a deal that is being widely viewed as an assault on networking market leader Cisco Systems.  Networking is a rapidly growing market, currently worth around $40 billion each year and dominated by Cisco, which thus far has come up against very little competition.  Palo Alto, California-based HP wants to use the acquisition to strengthen its position in the networking and data center sector.

SwedenÔÇÖs biggest telecoms company, TeliSonera, and RussiaÔÇÖs Altimo have agreed to combine their stakes in MegaFon and Turkcell to form a new company. ┬á┬á

Logitech, the worldÔÇÖs biggest maker of mice as well as webcams and other computer accessories, has announced it is to buy video conferencing company LifeSize Communications for $405 million. Austin, Texas-based LifeSize provides high-definition video conferencing products to more than 9,000 customers in over 80 countries. Its clients include public healthcare, education and government organizations, as well as private businesses. The deal marks a significant move by Logitech, which is based in Freemont, California, and Romanel-Sur-Morges, Switzerland, to break into the