Plan follows February's deepwater find by Cobalt International which the Goldman Sachs-backed group estimates holds some 1.5bn barrels of crude

The chief's departure signals a shift in strategic direction for which investors should be happy but they should not expect instant solutions

The world's largest music company has told its workforce that French parent Vivendi still supports its £1.2bn move for record labels unit

Investors yet to be convinced of chief's plan to turn round the defence contractor following huge losses and ethics inquiries at its companies

Pan-European regulator begins inspecting the big three credit rating agencies to determine if the process is sufficiently rigorous and transparent

Louis Vuitton follows in footsteps of rival luxury goods groups by opening a boutique, selling branded fine jewellery. Versace plans to open standalone stores

Row between Germany's carmakers and their French and Italian rivals centres on the critical formula for long-term CO2-cutting targets

German gas producer extends healthcare activities by signing a merger agreement to acquire the US provider of oxygen and respiratory homecare services

The price paid for the specialist maker of diabetes drugs is far from cheap but with obesity continuing to rise, the potential is significant

Instead of resorting to share buybacks, the Swiss staffing group needs to make a more aggressive push into emerging markets