LVMH sales up
LVMH, the world’s biggest luxury goods maker, reported an 11 per cent increase in sales to €13.9 billion (£9.6 billion) in 2005, lifted by Louis Vuitton leather goods and economic growth. The company forecast “tangible growth” in operating income this year.
Google defiant
Google said it will vigorously resist efforts by the US Government to force it to turn over information that would allow Justice Department lawyers to find out what consumers are searching for online as part of an inquiry into internet pornography.
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TNK-BP unit sale
TNK-BP, Russia’s No 2 oil producer that is half-owned by BP, is understood to have hired Deutsche Bank and UBS to sell its Udmurtneft unit, which has reserves of about one billion barrels of oil equivalent and could be worth more than $3 billion (£1.7 billion).