Ford is to sell its Swedish subsidiary Volvo to the Chinese car manufacturer Geely in a deal that values the company at up to $1.8 billion.  Under the terms of the deal, Geely will acquire 100 percent ownership of Volvo, its assets and intellectual property rights. The acquisition is the biggest overseas purchase by a Chinese car manufacturer.

UK pharmaceutical firm GlaxoSmithKline is seeking partnerships with small and medium sized companies in Japan to assist it in developing and distributing new medicines, according to a report in the Financial Times.

The casting vote In need of greater capacity and the ability to manufacture special alloys, National Bronze & Metals elected to build a complete new foundry in Lorain, Ohio, president Michael Greathead explains to Ruari McCallion. National Bronze & Metals, Inc. (NBM) has been in the business of brass, bronze and copper alloys since 1983.

The Canadian pension fund Ontario Teachers' Pension Plan (TeachersÔÇÖ), is to buy the UK firm Camelot, which runs the country's National Lottery, it has been announced.  The deal, which is worth around ┬ú389 million (C$590 million), is subject to approval by the National Lottery Commission, which licenses and regulates gambling in the UK. TeachersÔÇÖ beat off competition from the private equity firm CVC Capital Partners, which also bid for Camelot. Camelot has been running the UKÔÇÖs National Lottery since it started in 1994.

The UKÔÇÖs Ministry of Defence has awarded submarine and warship contracts worth a total of ┬ú427 million to BAE Systems.

CanadaÔÇÖs Ivanhoe Mines has announced it is in talks with potential investors for its gold property in Kazakhstan.  Vancouver-based Ivanhoe has increased its stake in Altynalmas Gold, which owns 100 percent of the Kyzyl gold project, to 50 percent from 49 percent, as it works towards bringing the project into commercial production.  Ivanhoe has said it is in discussions with potential strategic investors, including established gold industry players and sovereign wealth funds that have expressed an interest in the development of Kyzyl.

Electrolux, the Swedish-based producer of home appliances, has made an offer to buy South KoreaÔÇÖs Daewoo Electronics.

Houston-based oil major ConocoPhillips has told Russian oil producer Lukoil that it plans to sell as much as half its 20 percent stake in the company.

TNK-BP, BP's Russian oil venture, has said it aims to sell its vast Kovykta gas field to Rosneftegaz, RussiaÔÇÖs state holding company, by the end of the year.

Coal miner Peabody Energy Corp. has purchased a $15 million equity interest in Calera Corp., the company with the proprietary technology to convert carbon dioxide into green building materials.  CaleraÔÇÖs technology captures carbon dioxide emissions from coal or gas fueled power facilities, cement plants and refineries, before converting it into solid carbonates such as cement-type materials that can be utilized in the construction process. Every ton of building material produced┬áis expected to store as much as half a ton of carbon dioxide.