Warner Music makes fresh bid for EMI
London: Beleaguered British music company, EMI Group, has received a new takeover approach from US rival Warner Music. EMI has issued two profit warnings since mid-January and now says there was no certainty that the latest approach would lead to a formal offer.

EMI and Warner Music had last year each tabled and rejected proposed takeover bids of about 2.5 billion pounds for each other.

A combination of EMI and Warner would create the world's third-biggest music company behind Universal Music and Sony, and would count Coldplay, Madonna, Eric Clapton, Eminem and Scissor Sisters among its roster of artists.
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Armani up for sale
Frankfurt: Iconic Italian fashion designer Giorgio Armani has said in interview to the business daily Handelsblatt published here that he was prepared to sell his fashion empire.

French group L'Oreal, which already cooperates with Armani in perfumes and cosmetics, has frequently been mooted as a possible buyer.

Armani is estimated to worth about $6.6 billion.
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Venezuela to offer discounted fuel for London's buses
London: Venezuelan President Hugo Chavez has said he would supply oil at a discount to run London's buses in exchange for urban planning advice from the UK capital's mayor, Ken Livingstone.

The agreement comes after a September meeting between Livingstone and Chavez in London, the mayor said.

The Venezuelan national oil company, PDVSA, will provide the oil at a discount worth $32 million a year, while the city will use the savings to offer half-price bus fares to 250,000 Londoners.
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