Business software manufacturer Oracle has said it is in a deal to buy computer hardware and software maker Sun Microsystems for $7.4 billion.   The deal comes a month after IBM abandoned its bid to buy Sun, and Oracle said the buy "transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems."   Although best known for its computer servers, Sun was also the developer of the Java programming language, and created the Solaris operating system.

The second season of the star-studded, multimillion-dollar Indian Premier League was moved to South Africa after concerns over security in India. The five-week tournament will feature many of the world's leading players who have been snapped up by eight franchises.   Moving the IPL show to South Africa could help boost its economy, which shrank in the last quarter of 2008 for the first time in ten years, and could be facing possible recession.

PepsiCo Inc., the worldÔÇÖs second- largest soft-drink maker, offered about $6 billion in cash and stock to buy out other shareholders of its two biggest bottlers to take greater control over product sales in North America. In 1999, PepsiCo followed Coca-ColaÔÇÖs lead by spinning off its capital-intensive bottling operations. PepsiCo and bigger rival Coca-Cola Co. sell beverage concentrate and syrup to licensed bottlers who add water and other ingredients, put the mixture in bottles and cans, and sell it.

Switzerland's biggest bank, UBS, is to sell its Brazilian outlet, UBS Pactual - a financial services firm bought in 2006 - to its original owners for ┬ú1.7 billion. ┬á The Swiss bank said the sale of UBS Pactual to Andre Esteves, the former head of the business, would result in "a small loss,ÔÇØ but will reduce its risk profile, free up capital, strengthen its balance sheet and sharpen its business focus.┬á "There may be more transactions like this to follow," said Mathias Bueeler and analyst at Kepler Capital Markets.

Citigroup is the latest US bank to see an improvement in its performance as it has reported its first quarterly net profit in almost two years. ┬á  "We had our best overall quarter since the second quarter of 2007," chief executive Vikram Pandit said.┬á The bank made a profit of $1.6 billion compared to a loss of $5.1 billion a year earlier, and revenues rose 99 percent to $24.8 billion. ┬á However, once dividend payments to preferred shareholders were taken into account, it suffered a near-$1bn loss.

Citigroup is the latest US bank to see an improvement in its performance as it has reported its first quarterly net profit in almost two years. ┬á  "We had our best overall quarter since the second quarter of 2007," chief executive Vikram Pandit said.┬á The bank made a profit of $1.6 billion compared to a loss of $5.1 billion a year earlier, and revenues rose 99 percent to $24.8 billion. ┬á However, once dividend payments to preferred shareholders were taken into account, it suffered a near-$1bn loss.

Citigroup is the latest US bank to see an improvement in its performance as it has reported its first quarterly net profit in almost two years. ┬á "We had our best overall quarter since the second quarter of 2007," chief executive Vikram Pandit said.┬á The bank made a profit of $1.6 billion compared to a loss of $5.1 billion a year earlier, and revenues rose 99 percent to $24.8 billion. ┬á However, once dividend payments to preferred shareholders were taken into account, it suffered a near-$1bn loss.

Citigroup is the latest US bank to see an improvement in its performance as it has reported its first quarterly net profit in almost two years.   "We had our best overall quarter since the second quarter of 2007," chief executive Vikram Pandit said.  The bank made a profit of $1.6 billion compared to a loss of $5.1 billion a year earlier, and revenues rose 99 percent to $24.8 billion.   However, once dividend payments to preferred shareholders were taken into account, it suffered a near-$1bn loss.

Dubai-based broadcasting company MBC Group announced today it has signed a major new deal with giant Warner Bros to show all its US TV shows for the next two years.  ┬á┬á MBC will debut Warner Bros International Television Distribution (WBITD) series in the region on free TV, at the same time as the US broadcast of the programmes, officials said.  ┬á┬á MBC Group was established in 1991 as the first pan-Arab free-to-air satellite broadcasting company in the Arab World.

Dubai-based broadcasting company MBC Group announced today it has signed a major new deal with giant Warner Bros to show all its US TV shows for the next two years.  ┬á┬á MBC will debut Warner Bros International Television Distribution (WBITD) series in the region on free TV, at the same time as the US broadcast of the programmes, officials said.  ┬á┬á MBC Group was established in 1991 as the first pan-Arab free-to-air satellite broadcasting company in the Arab World.