Computer giants Dell and HewlettPackard up their offers again in a bidding war over data storage company 3Par. In the latest twist, Dell agreed to match an increased $1.8bn (£1.2bn) total bid, or $27 per share, made by HP on Thursday.

Oil giant BP has announced a return to profit in the three months to September after last quarter's record loss. The firm said its replacement cost profit for the period was $1.85bn (£1.15bn), as against the $17bn loss recorded from April to June. This should be music to the ears of investors, particularly pensioners relying on dividend income ...

More good news on the corporate front. Lloyds Banking Group says it remains on target to deliver a "good financial performance" for 2010. The bank, which is 41%-owned by the UK government, also said it had accelerated repayment of the funds that were given to it by the Bank of England during the global financial crisis. This should be good news to the UK tax payer.

Business Secretary Vince Cable orders Ofcom to investigate News Corporation's plan to take full control of BSkyB. News Corporation has said it wants to buy the 61% of BSkyB it does not own.

Communications regulator Ofcom has invited comments on NewsCorp's proposed $12.5bn (£7.8bn) bid for satellite broadcaster BSkyB and its suggestions for "remedies or mitigations" to any public interest concerns.

Royal Bank of Scotland has increased the proportion of its earnings allocated to the pay and bonuses of its investment bankers, despite making a loss in the third quarter. Hmm, why am I not suprised?. This reminds me of the famous quote (from the leopard): 'Things have to change so that they can stay the same'

Mining giant BHP Billiton abandons its takeover bid for fertiliser group Potash Corporation after it was blocked by the Canadian government.

Consumer products giant Unilever has unveiled a "new business model" putting sustainability at the heart of its global operations. It committed to halve the environmental impact of its products while doubling sales over the next 10 years. Chief executive Paul Polman said the new model was "the only way to do business long term".

Up to 40 Rolls-Royce engines on Airbus A380 superjumbos worldwide will need to be replaced, Australian airline Qantas says.

Mining giant Rio Tinto agrees a tie-up with Chinese state-owned firm Chinalco to explore for mineral deposits in China.

Rolls-Royce lost a contract with the Spanish Military following lobbying of Spain's Prime Minister by the US, leaked cables suggest.

Tesco reports a rise in third-quarter sales, saying it is "continuing to see evidence of a steady consumer recovery" in the UK.

Lloyds Banking chief Eric Daniels says breaking up big banks would not make the sector more competitive.

The dates of the next strike ballot by British Airways cabin crew members are announced by the Unite union.

The US is suing BP and other companies in an effort to recover billions of dollars in connection with the Gulf of Mexico oil spill.

Royal Bank of Scotland reports a loss of £1.13bn for 2010, a bigger figure than analysts had been expecting.

Royal Bank of Scotland reports a loss of £1.13bn for 2010, a bigger figure than analysts had been expecting.

Lloyds Banking chief Eric Daniels says breaking up big banks would not make the sector more competitive.

The US Treasury sells its remaining shares in bailed-out Citigroup, leading to a profit of $12bn for the US taxpayer. Citigroup was one of the worst victims of the financial crisis, and the US government stepped in with $45bn of bail-out cash in 2008 and 2009.

India's No 2 lender, is raising USD 150 million through a 10-year lower tier two-bond issue, IFR reported on Tuesday. Barclays Capital, Deutsche Bank and HSBC are the lead managers on the issue, which was likely to be priced later on Tuesday, IFR said, adding initial guidance for the coupon rate was in the "low 7%" range.

UK investment bankers and traders will have calls made on work mobile phones taped in a crackdown on insider trading. City watchdog, the Financial Services Authority ruled calls would be stored for six months, but personal mobile phones are not included in the move. Office land lines, e-mails and communications through messaging systems are already recorded. Financial firms had objected to the cost of the plans.