Canadian firm Nortel Networks is today holding an auction in New York for its optical networking and carrier ethernet business, Metro Ethernet Networks. Nortel, which was North AmericaÔÇÖs largest telecoms equipment maker, entered bankruptcy protection in January, before announcing in June that it no longer planned to continue operations and would sell off all of its business units. The Toronto, Ontario-based company has been selling off various operations since then, and has raised more than $2 billion to date. Assets have already been sold to Japanese electronics manuf

Brazil has signed two agreements to invest $6 billion in biofuel exploration in Mozambique, according to O Pais newspaper.

Blackstone Group is to acquire Birds Eye Foods for more than $1.3 billion, the Wall Street Journal reports. BlackstoneÔÇÖs Pinnacle Brands Corp.

State-owned energy giant Qatar Petroleum International (QPI) has announced it will spend around $9.8 billion (Ôé¼6.6 billion) on the construction of two petrochemical plants in Asia, according to a report by Bloomberg.

Coca-Cola, the world's largest soft drink company, is to create a new, uniform branding for the packaging of its global juice brands.  The company said the move is part of its strategy to build on its market leading position in the juice category across the world.  The new visual identity is designed to boost brand preference, improve the productsÔÇÖ appearance on the shelf, drive cost efficiencies and create consistency across Coca-ColaÔÇÖs juice brands and products.  Atlanta, Georgia-based Coca-ColaÔÇÖs juice brands include Minute Maid, Del Valle, Andina and Cappy.

Portugal Telecom, PortugalÔÇÖs largest telecoms service provider, has said it will turn to the high-growth markets of Africa and Brazil to increase its market share, the Financial Times reported.

Chinese solar panel maker Suntech Power Holdings is planning to build a 100,000 square foot headquarters and manufacturing plant in the Phoenix area of Arizona.  The company said the facility will start building solar panels by the third quarter of 2010 and will eventually employ 250 or more people.  Suntech selected the Phoenix area for its plant because of ArizonaÔÇÖs leadership in solar research through Arizona State University and the stateÔÇÖs renewable energy policies.  It marks a major step in the firmÔÇÖs long-term plans to increase its market share in the US.

Italian chocolatier Ferrero is reported to be in talks with friendly investors over forming an alliance with UK confectioner Cadbury, according to ItalyÔÇÖs Il Sole 24 Ore newspaper.

Suncor, CanadaÔÇÖs largest energy company, has unveiled a 2010 capital spending budget of C$5.5 billion, up from this yearÔÇÖs C$3 billion.  Almost C$1.5 billion will be directed to fund growth projects, while the remainder will be spent on sustaining current production operations. Suncor has confirmed that C$900 million will be spent on the third phase of the C$5 billion Firebag project, which was only half completed when it was mothballed in January this year.  Firebag uses steam to pump oil out of the ground.

UK engineering firm Rolls Royce has won a $2 billion (£1.2 billion) contract to supply engines to Air China and Ethiopian Airlines.