The recording industry has won a major fight in its effort to stop illegal music downloading with a United States jury decision to impose 000 damages against a Minnesota woman who used a web service to share music. The size of the damages is nearly 80 times higher than the average European settlement figure.
Miner Xstrata announced a -billion offer for South Africa’s Eland Platinum Holdings and met forecasts with a 47% rise in first-half net profit on Tuesday. Swiss-based Xstrata said its R105-a-share cash offer was 14% above Eland’s 30-day volume-weighted average price and that it had secured support from shareholders owning 51% of the South African firm.
Canada’s Thomson Corporation is in talks to buy Reuters Group for about £8,8-billion (,6-billion) to create the world’s biggest news and financial data company. Under the terms of the proposed deal Reuters investors would get 352,5 pence in cash and 0,16 Thomson stock for each share, worth 697 pence a share.
News and financial data provider Reuters said on Friday it had received a takeover approach, sending its shares up almost a third, with Canadian publisher Thomson widely touted as the mystery suitor. The Financial Times later reported on its website that Reuters looked set to endorse an offer from Thomson.