Boeing is set to go head-to-head once again with European rival EADS for the lucrative $35 billion Pentagon contract to build refueling aircraft for the US Air Force.

The Pentagon first invited bids to replace the aging fleet of tankers several years ago, and has actually awarded the contract twice (once to each side), but successful challenges have forced it to start the process all over again. Meanwhile the US Air Force is still flying takers which date back to the late-1950s.

HSBC is considering making a bid for South Africa’s Nedbank, majority owned by the insurance group Old Mutual, it has been reported.

According to a report by Sky News, HSBC has appointed investment bank Lazard to advise on a possible takeover.

Senior executives are optimistic about achieving their companies' growth expectations over the next two years, according to a survey by Ernst & Young LLP.

Ernst & Young’s Growth Company Leadership survey measures attitudes about key economic and performance indicators among US companies with $500 million to $3 billion in total revenues. Respondents were particularly optimistic about revenue, profitability, technology spending and hiring.

Amazon.co.uk has announced that it will take on the UK’s supermarkets with the launch of its own online grocery store offering free delivery on thousands of products.

Thecompanywill offer a range of 22,000 products, which matches the scope of rivals such as Tesco and Ocado. It will stock 2,000 products at its five warehouses around the UK, with its biggest facility, of 800,000 square feet, to be located at Swansea Bay in Wales. The remaining products, including fresh and chilled items, will be sent from external suppliers.

More than 1,000 of the world’s leading scientists and technicians will lose their jobs on October 1st as NASA’s space shuttle program winds down.

The immediate job cuts represent about 15 percent of the workforce, with more cuts expected. Only two final shuttle flights are planned to the International Space Station, one in November and another in February, although some Congressmen have discussed the possibility of an additional flight next summer which would delay further job losses.

Nigeria's state-run oil firm NNPC has said that three new refineries will be on-stream by 2014, following a deal signed with China State Construction Engineering Corp (CSCEC).

The three refineries will have a combined capacity of 885,000 barrels per day and will cost $25 billion. This will triple Nigeria’s refining capacity to 1.3 million barrels per day and bring it closer to its aim of eliminating its dependence on fuel imports within the next 10 years.

The Canadian Wheat Board has said it will more than double wheat sales to China as poor weather downgrades the Asian country’s domestic crop.

The sale of 500,000 metric tonnes by the end of 2011 to COFCO, China's largest government food processor, will be worth C$130 million (US$123 million).

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.