Third time most definitely appears to be the charm for the auction, with two previous attempts at selling the licences in November 2012 and March 2013 both failing to reach even the lowest of estimates. This latest round of bidding however far exceeded the Indian government’s target of £1.8 billion.

The government stands to receive $3 billion initially, with companies required to pay up to a third of the winning price now, with the rest to follow by 2026. The money will be used to help shrink the country’s budget deficit.

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.

Since its formation in 2003, Offshore Marine Management (OMM) has grown within the renewable energy, subsea telecoms and oil and gas sectors, expanding from providing personnel for offshore projects to taking on turnkey cable installation contracts. Indeed, OMM’s ability to adapt to ever changing market conditions has allowed it to flourish even in times of economic uncertainty.

Danone is set to pay $663 million to increase its shareholding in China Mengniu Dairy to 9.9 percent from 4 percent, a purchase that will be made through a joint venture with Mengniu's parent company Cofco and Denmark's Arla foods.

Danone chief executive Franck Riboud called the deal a "winning combination" for the companies involved. "This transaction is consistent with Danone's strategy to increase our interest in and join hands with Mengniu to capture the huge growth potential of the chilled dairy products market in China.”

British American Tobacco has never been afraid to embrace change. This is a quality it shares with the most successful businesses throughout history and has been a major contributing factor in the Group’s success over the past 112 years since it was formed in 1902.

Measuring approximately 1,850 kilometres in length and with a width varying between from 370 to 805 kilometres, the Scandinavian Peninsula is one of Europe’s largest. Covering Norway, Sweden and most of northern Finland, the Peninsula we see today has been shaped through history by the impact of various Ice Ages, events that have deepened its river valleys, created the famous fjords of Norway and left only a small percentage of the land arable.

The economy of Cyprus in recent years has largely depended on tourism and financial services. The fundamentals of these industries are still sound despite the well documented financial and banking crisis that affected the island in 2012 and Cyprus is now making every effort to restore its economic stability.