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Oil-services Company Schlumberger Ltd. is in advanced talks to acquire Smith International Inc., with familiar negotiation. According to the Wall Street officials this deal would create an industry giant with revenues double that of its nearest rival Halliburton Co.

According to the industry experts, Schlumberger enjoys an advantage due to its size and wide range of offerings and the merger will help the companies to locate and drill for oil deposits.

Lok Sabha Speaker Meira Kumar will meet all political parties' heads in order to settle the schedule for the Budget session starting Monday.

Meira would like to get a sense of what matters expected to be brought up during the meeting.

In the meantime, the Congress Core Committee settled its plan for the session at a conference of senior party heads on Friday.

Previously BJP has stated that it would lift the topic of price increase, internal protection and India-Pakistan talks in today's conference.

World's largest maker of coffee, bottled water and pet food, Nestle SA reported a decline in the earnings during the quarter to 10.4 billion Swiss francs against the 18 billion Swiss francs over the previous financial year. The company expects the acceleration in the sales growth volume after increasing advertising spending for the year 2010.

The company completed its current 25 billion-franc share buyback during the fiscal year 2009, and plans to start a new 10 billion-franc buyback program which is expected to have completed half of the new program current fiscal year.

Hutchison Telecommunications (Australia) Ltd (HTA) has claimed that its merger with Vodafone Australia has been a great success. HTA has reported a profit of $467.7 million for the year and has given all the credit to the merging of the two telecom giants.

The merger was completed in June, 2009 after which a new entity Vodafone Hutchison Australia (VHA) was formed. This had an equal partnership of both the companies.

Tiger Woods has made a public apology for reckless and egotistic behavior.

At last, Woods broke his muteness on the sex scandal, which engulfed him during the last year.

Also, the no.1 affirmed that he had been in rehab centre for 45 days, but didn't disclose details of his cure.

He admitted that he cheated and had affairs, but called on the media persons to value the confidentiality of his family.

Pest control and parcel delivery group, Rentokil reported more than 50 percent increase in the earnings over the previous financial year. Despite of this increase, the company canceled the dividend for the year 2009 due to economic uncertainty and desire to strengthen the balance sheet and financial position.

Company decision on the dividend along with cost cutting measures taken by the company will help it to retire £125 million credit facility in the September a year before its maturity. The company also plans to close five plants across Belgium and France in the coming year and is streamlining other operations across Europe.