Libya’s sovereign wealth fund is eyeing a stake in the troubled oil giant BP, according to reports.

Shokri Ghanem, chairman of Libya's National Oil Company, said BP shares were "good value for bargain hunters".

His comments follow reports that BP is seeking investment from Middle Eastern sovereign wealth funds. The company’s shares have roughly halved in value following the oil disaster in the Gulf of Mexico, which began in April; but they climbed 3.5 per cent on Monday following Ghanem’s comments.

Despite the ailing economy, American consumers were still expected to spend big-time on Independence Day festivities this year.

The National Retail Federation's 2010 Independence Day Consumer Intentions and Actions Survey (conducted by BIGresearch) predicted that 87.8 percent of all Americans would take part in some sort of Independence Day festivity, spending upward of $3 billion on holiday weekend parties, food, entertainment and travel.

Builders' merchant Travis Perkins has agreed to purchase plumbing and heating company BSS Group for £557.6 million.

The cash and shares deal values BSS shares at 435.8 pence, a 4.7% premium on Friday's closing price of 416.2p. It is the largest acquisition by Travis Perkins since the £950 million takeover of the Wickes DIY chain in 2005.

Search giant Google has agreed to buy ITA Software Inc. for $700 million, giving it a foothold in the fast-growing online travel industry.

 Google’s offer beat that of rivals Microsoft and other travel and search related companies who were hoping to prevent Google from taking over ITA.

Western Australia is a dry state and getting drier by the year: its dams and groundwater can no longer be expected to supply the increasing population of its fast-growing capital, Perth, so the Water Corporation is turning to other climate independent sources. John O’Hanlon speaks to project manager Nick Churchill.

Last year, international exploration and development company Tullow Oil discovered significant oil resources in the environmentally sensitive remoteness of East Africa. General manager Dr Brian Glover talks to Gay Sutton about the importance of this discovery, and the challenges it presents.

Stuttafords is that increasingly rare animal—a department store. In fact, it’s one of a kind; but no dinosaur, as its executive chairman Hilton Mer is determined to prove. He explains all to John O’Hanlon.

Simcoa Operations is one of the world’s leading producers of silicon. Vice president Jim Brosnan tells Jane Bordenave how a dedication to efficiency and zero waste has helped it get there.

Despite a number of obstacles, the port of Mombasa has developed into a highly efficient operation that is growing daily, as Alan Swaby learns.