NYSE Euronext’s proposed merger with Deutsche Boerse has been blocked by the EU on competition grounds. The proposed deal would have created the world’s largest stock exchange operator. However, the European Commission blocked the deal because it said it would have created a “near monopoly” in European financial

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The pace of US economic growth increased in the final three months of 2011, according to official figures. The economy grew at an annualized rate of 2.8%, the Commerce Department said. This was up from the 1.8% annual rate recorded in

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Chinese oil firm Sinopec has agreed a $2.2bn deal with Devon Energy, giving it access to shale deposits in the US. Sinopec will get a one-third stake in five new shale projects, with the firms expecting to drill 125 wells this year.

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World’s largest electronics manufacturer, Samsung, and six other LCD screen manufacturers have settled claims they conspired to fix prices. The firms were accused in 8 US states of working together to raise the price of screens for TVs and computers.

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US state of New Jersey will host the Grand Prix of America in 2013, governor Chris Christie has announced. Formula 1 returns to the USA in 2012 for the first time since 2007 with the US Grand Prix in Austin, Texas.

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US economy grew at an annualized rate of 1.3% between April and June, the Commerce Department has said in its third estimate for the quarter. This is higher than the 1% growth it reported in its

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China central bank welcomed measures taken by the US gov. to avoid a default by raising debt ceiling. Zhou Xiaochuan said the People’s Bank of China (PBC) would “closely observe its implementation

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Microsoft revenues hit a record of $69.94 bn Sales of the company’s Xbox 360 videogame console and its Office software helped fuel the growth. Net income at the world’s biggest software maker jumped 23% to 23.15bn for the year.

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Moody may downgrade the US debt rating if Congress fails to increase the US debt limit in the coming weeks and risks default. Republicans on Wednesday blocked a bill to raise the debt limit,

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Rio Tinto agrees $2bn land deal with Australian co. Aboriginals Under the deal, Rio will pay almost $2bn over 40 years to owners in return for access to their resource-rich land. Rio Tinto has been looking to expand its operations and increase

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