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Schlumberger, the Oil industry services group has agreed upon buying its competitor, Smith International for $11.34bn, in an all-share deal.

However the takeover will require shareholder and regulatory approval which is valued at $45.84 per share, 37.5% more than the closing price last week.

This deal is the latest in the acquisition which will be getting unveiled in the concerned sector, due to the rising global crude oil prices in the past few months.

Industry figures have revealed that the car manufacturing in the UK has accelerated predominantly last month. It has raised 64.8% as compared to the same period the previous year. Manufacturing in 2009 was the 25-year low in the industry.

Since May 1976, this is the largest increase according to data from the Society of Motor Manufacturers and Traders (SMMT). In January, the total number of cars produced exceeded to 100,000. It was around 61,404 for the same month previous year. Commercial vehicle production in January 2010 also rose increasing by 9.6% compared with January 2009.

Gross mortgage lending in the UK dropped to a 10-year low last moth, revealed the Council of Mortgage Lenders (CML).

Total lending of £9.1 billion in January was 32 per cent less from the December total of £13.4 billion. On a year-on-year basis last month's mortgage lending posted a 31 per cent decline over a gross lending of £11.5 billion posted in the year-ago period. Lending in January was the worst since February 2000.

Can you handle dozens of new complains every 30 seconds? The Toyota PR Managers might be asking this question. After the Toyota recall, the management have found that it was the Twitter who caused maximum damage to this vehicle manufacturing giant.

Just after the news of recall came to public, it was social networking website Twitter which did the rest. The tweet-rate was blistering as users sent messages to their followers.

Bharat Forge is planning to enter into the field of green energy. The auto components company is planning to invest in renewable energy space which would include field like solar energy and biomass energy.

The company is now planning to diversify from its core business and is expanding in other fields. Talking about the organic growth, Amit Kalyani, Executive Director, Bharat Forge told a private news agency, Reuters that the solar energy marketing is the next big thing. The company is planning to start the production with 20-30 MW as capacity and later on move over to 100 MW.

Experts predict more number of iPhone to come this year. Apple iPad Wi-Fi models will arrive in late March and 3G models will most probably come in April. Apart from iPad, speculations are on air that Apple will release a variety of iPhone devices this year with features like video capture and video chat.