Spain’s Santander is set to acquire 318 high street branches from the UK’s Royal Bank of Scotland as the only bidder left in a sale process that ends today.

The Spanish bank, which is the largest in Europe, made an indicative offer of about £2 billion in April to buy the branches the European Union is forcing RBS to sell, following its government bailout during the credit crunch.

The bid is for 318 RBS branches, part of the former William & Glyn network, plus six NatWest branches in Scotland.

Peoria, Illinois-based Caterpillar, the world's largest maker of construction and mining equipment, said it plans to add a new mining shovel production line at its Aurora, Illinois plant as well as expanding truck production in Decatur, Illinois and Chennai, India.

The new mining shovels will range from 125 ton to 800 ton models. The 125 ton shovels are expected to be available from 2011, with larger models following in 2013 and 2014.

Rupert Murdoch's News Corporation has held a series of early-stage talks with BSkyB shareholders about the media conglomerate’s £7.8 billion initial approach to the UK satellite broadcaster.

Saudi ArabiaÔÇÖs Dhuruma Electricity Co. has awarded a $1.6 billion contract for the construction of a new power plant at Dhuruma.

CanadaÔÇÖs Suncor has agreed to sell Petro Canada Netherlands for C$582 million ($566 million) to the UKÔÇÖs Dana Petroleum, it has been announced.  The deal will give Aberdeen-based Dana access to a new area in the Dutch sector of the North Sea, and could boost its production guidance for 2010 by 10 to 12 percent on an annualized basis. Suncor, Canada's largest oil and gas company, embarked on a divestment program following last year's takeover of Petro Canada. The Dana deal will bring the sum of funds raised through the sale of non-core assets to $2.1 billion.

Dana Petroleum has agreed to buy rival Petro Canada Netherlands, a wholly owned subsidiary of CanadaÔÇÖs Suncor, for ┬ú270 million, it has been announced.