The European Investment Bank (EIB) has opened a £700 million fund to finance eligible onshore wind projects, with a further £700 million being injected by commercial banks.

Crescent Point Energy has announced the acquisition of privately-owned TriAxon Resources for C$249 million.  Crescent Point is one of a number of companies eager to secure dominant positions in Saskatchewan through a series of acquisitions.

French utility firm Electricit├® de France (EDF) has announced a provisional timetable for the sale of its UK electricity distribution networks.

Reynolds American, the second largest tobacco company in the US, is reportedly in talks to buy a Swedish maker of smoking cessation products. Winston-Salem, North Carolina-based Reynolds, whose products include Camel, Kool and Pall Mall cigarettes as well as Grizzly snuff, is said to be interested in acquiring Niconovum AB in order to broaden its market offering. The value of the deal could be as much as $49 million, according to reports. The news has been seen by analysts as a strong indicator of the nicotine industryÔÇÖs changing nature. Sales of cigarettes in the US h

Reynolds American, the second largest tobacco company in the US, is reportedly in talks to buy a Swedish maker of smoking cessation products.

ChinaÔÇÖs premier, Wen Jiabao, has pledged $10 billion (Ôé¼6.6 billion) in low-cost loans to Africa over the next three years.

After official figures showed that US business productivity has increased at its highest rate for six years, US shares have also increased strongly.   Productivity, as measured by output per hour of work, rose at an annual rate of 9.5 percent between July and September, and the data suggests that firms, which have cut jobs in the downturn, are now increasing their output, leading to a possible need for more staff.

New car sales recorded their biggest increase for the year in October, helped by the scrappage incentive scheme.
 

US media firm Time Warner posted higher-than-expected quarterly profit and has raised its full-year profit forecast after an improved performance at its film and cable network units.

For the first time since the 1950s, Marks and Spencer has confirmed it will start selling branded goods at its stores across the UK.