Chinese telecomms equipment maker Huawei has changed its mind about the controversial acquisition of US server manufacturer 3Leaf, after national security concerns had been raised in the US.

Huawei purchased intellectual property from 3Leaf in May 2010 for $2 million but the deal caused concern in the US government, as it had not been cleared through the Committee on Foreign Investment in the United States (CFIUS).

Huawei initially rejected the CFIUS's recommendation to voluntarily divest from acquisition, but has now had a change of heart.

UK drinks company Diageo has announced the acquisition of Turkish spirits firm Mey Icki Sanayi & Ticaret for £1.3 billion.

Mey is one of the largest alcohol producers in Turkey, controlling around 80 per cent of the market for the Turkish national drink, raki. It also controls around 65 per cent of the country’s vodka market.

The deal will give Diageo access to Mey’s extensive distribution network as well as its production facilities. The Istanbul-based company currently has 50,000 retail outlets across Turkey.

Global mining and oil & gas giant BHP Billiton announced $10.5 billion profits for the final six months of 2010, a 71.5 per cent increase on the previous year. Half yearly revenue rose 39 percent to $34.1 billion.

France’s Lafarge and UK mining company Anglo American have announced they are to combine their tarmac and cement businesses in the UK.

The 50-50 joint venture will see the two companies merge their cement, aggregates, ready-mixed concrete, asphalt and contracting businesses in the UK—currently operating as Tarmac UK and Lafarge Cement UK.

The combined sales of the two businesses in 2010 was £1.8 billion.

Agnico-Eagle Mines has reported net income of $88.0 million ($0.53 per share) for the fourth quarter of 2010, compared with $47.9 million ($0.31 per share) in the same quarter last year.

Abu Dhabi’s sovereign wealth fund, International Petroleum Investment Co., is to take control of Cia. Espanola de Petroleos SA, Spain’s second-largest oil company, by buying out shareholder Total.

The deal, worth €3.97 billion, will see IPIC buy Total’s 48.8 per cent stake and purchase the remaining Cepsa stock at €28 a share. IPIC already holds 47 per cent in the Spanish company.

French pharmaceutical group Sanofi-Aventis has agreed to buy US biotech company Genzyme for €14.8 billion, following months of wrangling over price.

The deal will give Paris-based Sanofi valuable access to the market for drugs that treat rare diseases.

Patents on some of Sanofi’s bestselling drugs have recently expired, leading to a downturn in sales. Its blood thinning drug Plavix, for example, is expected to face generic competition next year. Last year, Plavix accounted for about nine per cent of Sanofi's total sales.

Has the recession released its death grip? Dr. Ivan Misner thinks it has, and offers some survey evidence to support his view, along with a few personal accounts of innovative survival strategies.

The end is near! No, not the end of the world, I’m talking about the end of the recession.According to a survey of over 5,000 business people released in January at BNIBusinessIndex.com, business is starting to look up. The survey involved businesses all around the world and included people from every populated continent.

The best companies achieve success through consistency, which is why they build business value through systemized internal operations, says Bob O’Hara.

2011 will see Taggart South Africa emerging as a one-stop-shop for bulk materials handling projects for all southern Africa’s mining projects, plus the ability to offer full EPC and EPCM services to its clients.