Washington  - A top labour union on Monday approved changes in its contract with Ford Motor Co that could save the struggling carmaker billions of dollars and set the stage for similar deals with General Motors Corp and Chrysler LLC.

The United Auto Workers said its members ratified the new labour agreement, which includes cuts in salary and health benefits, to help keep the carmaker alive amidst the worst economic downturn in decades.

New York  - Drug maker Merck & Co will merge with rival Schering-Plough Corp in a deal valued at 41.1 billion dollars, the companies announced Monday.

The deal would double the number of medicines under the final stages of development by Merck to 18 and create the second-largest US pharmaceutical firm.

Under the agreement, Schering-Plough shareholders will receive 0.6 shares of Merck and 10.50 dollars for each share, amounting to a total of 23.61 dollars per share.

The six-decade long eventful business journey of Circuit City Stores Inc has sadly come to an end - with the renowned consumer electronics retailer putting up the shutters on its business for good on Sunday, March 8!

After the Richmond, Virginia-based Circuit City became the most prominent retailer to file for bankruptcy in November, amid recession, it had announced its intention of liquidating as it failed to find a buyer.

The proposed eight-week long going-out-of-business sales, announced by four liquidators, at the company's over

The Department of Telecom (DoT) asked state-owned telecom giants BSNL and MTNL to discontinue their third generation (3G) services till the time the security agencies set up apt monitoring system in order to track traffic on their network.

The decision comes in spite of BSNL and MTNL clarifying to the administration that interception of 3G traffic is possible, during a meeting with the DoT on March 4.

The Intelligence Bureau informed the DoT that BSNL has not provided for monitoring video calls.

Sterlite Industries (India), a division of London based Vedanta Resources promoted by Anil Agarwal, has signed a contract with ASARCO, a Tuscon based mining, smelting and refining company, to get hold of substantially all the operating assets of the company.

The deal is priced at $1.1 billion, which will consist of $1.1 billion in cash and a senior secured non-interest bearing promissory news for $600 payable over a period of nine years.

But, the deal is still awaiting approval from of the US Bankruptcy Court for the Southern District of Texas, Corpus Christi Division.

Mumbai, Mar. 6: The Defense Ministry has given a-281-crore rupees contract to Bharti Shipyard for supplying 15 interceptor boats to the Indian Coast Guard, the shipping firm has said.

In a filing to the Bombay Stock Exchange, Bharti Shipyard said that these lightweight vessels are specialized high-speed crafts used for patrolling and interception.

Furthermore, the company said the order book of Bharti Shipyard has crossed the Rs 5,000 crore mark with this contract, and now stands at Rs 5,093 crore.