Elaine Haman

Czech power utility CEZ AS (BAACEZ.PR) said Monday it has hired Deloitte Advisory s.r.o., a local unit of Deloitte Touche Tohmatsu International, as its financial adviser for the planned sale of CEZ's coal power plants.

China's CNOOC Ltd. (0883.HK) said Monday it has reached an agreement to acquire Canadian oil and gas producer Nexen Inc. (NXY) for $15.1 billion in cash.

U.K. regulators said Monday seven more banks have agreed to examine whether they sold small businesses inappropriate financial products better suited to speculating in interest rate movements.

Norwegian telecom operator Telenor ASA (TEL.OS) Monday said its consolidated second-quarter Ebit from DTAC, its subsidiary in Thailand, fell to NOK817 million from NOK862 million a year earlier.

Thomson Reuters Corp. (TRI) said Monday it will set up a foreign exchange and money brokerage with GFI Group Inc. (GFIG), a global money broker, and SDIC Trust Co. Ltd.

Nexen Inc., the Calgary energy producer, definitively agreed to be acquired by Cnooc Ltd. for US$27.50 a share, or about US$15.1 billion.

Iraq has resumed crude-oil exports from Kirkuk oil fields at a lower rate, Middle East shipping agents said Monday, after an explosion that blew up part of the northern pipeline that carries crude to Turkey's Ceyhan port.

France's Competition Authority gave the green light Monday to French pay-TV giant Canal Plus for two takeovers, but applied restrictions to the deals that are aimed at loosening the Vivendi SA (VIV.PA) subsidiary's grip on the French television marketplace.

Italian stocks were poised to close at the lowest level on record on Monday, as investors heavily sold off European equities amid concerns over Greece's future in the euro zone and Spain's debt problems.

Citic Securities ended 7.3% lower in Hong Kong on Monday, as investors reacted to news of its intention to purchase CLSA Asia-Pacific Markets for $1.25 billion, in a deal that's reputed to be the first major acquisition of a mainland Chinese brokerage of a foreign competitor.