And in the real world... Tesco, Oracle, BA, GSK and more

LONDON - Today's round-up of the biggest business stories.

World news... round-up
World news... round-up

The mergers and acquisitions market was boosted yesterday by ten deals worth $27 billion, with more than half of the total value paid for in cash. Oracle agreed to buy Sun Microsystems for $7.4 billion, GlaxoSmithKline bought the US pharmaceutical group Stiefel Laboratories for $3.6 billion, and PepsiCo offered to acquire its two biggest bottling units for $6 billion. Source: FT

Tesco has posted record annual pre-tax profits of £2.95 billion and revealed that it had achieved more than £1 billion in sales for each week of the year. Source: The Times

IBM has reported an 11 per cent fall in quarterly revenue, a sharper-than-expected drop for the US technology company.
Source: The Times

BA is among seven airlines being investigated by the European Union’s Competition Commission over concerns that monopoly laws could be broken by transatlantic operations. Source: The Independent

Pearson, the educational publisher and owner of the Financial Times, has been rebuffed by some of its largest shareholders over a £270 million capital raising plan. Source: FT