US auto giant Ford has unveiled its strongest first quarter profits for 13 years, helped by increasing demand for more fuel-efficient cars. Profits rose to $2.55bn in the first three months of 2011, compared with $2.09bn at the same period the year before.

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USA regulators have fined a former hedge fund trader $30m for manipulating the natural gas market. The Federal Energy Regulatory Commission (Ferc) levied the fine on Brian Hunter, Amaranth’s lead energy trader, for violating the

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world’s biggest gold producer Barrick Gold will pay 7.2bn Canadian dollars ($7.4bn, £4.5bn) for Equinox Minerals. The offer, which has been accepted, is 16% higher than a rival bid from China’s Minmetals earlier this month.

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Eurozone interest rates have been raised to 1.25% by the European Central Bank ECB president Jean-Claude Trichet said that the rate rise was in response to the risk of accelerating inflation, and added that rates were still very low.

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Procter & Gamble is to sell its Pringles snacks business to the owner of Kettle Chips, Diamond Foods. The $2.35bn deal will see Diamond pay $1.5bn for Pringles and take on $850m of its debt.

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Singapore stock exchange (SGX) made a $8.3bn bid for the ASX, the firm that owns the Australian stock exchange, in October. Australian Treasurer, Wayne Swan had said earlier this week that he had serious concerns about the proposal.

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