China’s Wisco buys MMX stake

China’s third biggest steel maker to pay $400m for 21.5% of MMX, a Brazilian iron ore miner

• Anglo American seeks Brazil stake buyer
• Batista’s OGX ponders $2.5bn share issue

Venezuela closes four seized banks to public

Venezuela’s Finance Minister Ali Rodriguez says the government is closing the doors of four private banks it seized this month for violations of solvency regulations and unexplained capital increases.

• Lex: Venezuelan banks
• Recession hits Venezuela

Comparing pay – a tricky, but worthwhile exercise

Exclusive Financial Times data show which oil chief executive gives best value for money and can open a window into the soul of company boards

Areva faces tough choices on T&D sale

The decision by Innovation Network Corp of Japan to join Toshiba‘s bid for the power transmission and distribution unit of Areva, the French nuclear power group, has alienated one of the unit’s founding investors, General Electric, which has also made an offer for the business.

Lex: Goldman Sachs

The bank’s most precious asset – its awesome reputation – is turning as toxic as a pile of rotting collateralised debt obligations

Lex: JAL

Delta and American Airlines are jostling to throw money at the perennial problem that is Asia’s largest airline

Dubai air show deals starting to trickle in

The third day of the Dubai air show ends much as the first two did, with just a handful of extra order announcements from the main aircraft manufacturers, which organisers said brought the total value of air-show deals to $8.3bn

Vivendi criticised for high GVT price

Vivendi’s €2.8bn takeover of GVT, the Brazilian broadband operator, failed to impress investors