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Art collectors shrug off market woes
Art collectors this week shrugged off the US economic downturn and global financial turmoil to buy solidly at the big New York auctions although there were some signs of a more cautious mood seeping into the market
Higher barley prices hit Inbev
The brewer of Beck’s and Stella Artois beers predicted a better second half after a fall in Brazilian beer sales and higher commodities costs hit first-quarter results
Bankruptcies and defaults gather pace
The number of companies defaulting on their junk-rated debt and filing for bankruptcy in North America is running at its fastest pace in five years amid the slowing economy and contraction in credit markets
Two groups to sell iPhone in Italy
Apple has struck deals with Vodafone and Telecom Italia under which both mobile phone operators will sell the US computer company’s phone
Slim pickings may favour O’Reilly
Carlos Slim, the Mexican industrialist, has taken a stake of just over 1 per cent in Independent News & Media, the Irish newspaper group controlled by Sir Anthony O’Reilly
Lex: Call off the search
Investors can expect another round in the saga of Microsoft and Yahoo at some point. In the meantime, the longer it can help to delay any tie-up between its competitors, the better Google will do
ENRC takes Brazilian iron ore mine stake
Eurasian Natural Resources Corporation, the Kazakhstan metals and mining group listed in London, has taken a first step outside the CIS with the acquisition of Bahia Mineracao Limitada, a mining company in Brazil
Venezuela nationalises top steelmaker
President Hugo Chavez said the government will take control of the country’s top steelmaker, Argentine-controlled Ternium Sidor, even as negotiations with the company continue
Petrobras confident over deep water well
Brazil’s national oil company says reserves from wells being drilled in the offshore Carioca field could be ‘huge’, but it could face ‘challenges’ in production
Petrobras rules out Mexican service role
Petrobras would not be willing to work in Mexico as a service company, being paid a set rate rather than taking a share of oil production, according to Sergio Gabrielli, its chief executive





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