The end of the Xstrata-Vale saga drew much attention yesterday, sparking speculation about Vale's next move and, notably, refocusing minds on the Anglo-Swiss miner's predatory streak.

Drinks giant Diageo today toasted a return to growth for Guinness in the UK and Ireland. The company said the turnaround of the iconic pint in a declining beer market followed a major advertising push in the second half of 2007.

Diageo, the drinks giant behind some of the most iconic brands in the business, including Johnnie Walker whisky, Guinness and Baileys Irish cream, is due to publish its first-half results on Thursday. It has been a busy couple of weeks for the company: soon after swallowing Californian wine maker Rosenblum Cellars for $105m (£53m), Diageo paid $900m for half of Ketel One, the Netherlands-based premium vodka brand. Ketel, which sells more than half of its 1.9 million 12-bottle cases in the United States, will sit well beside the company's current collection of mass market and premium vodka.

Diageo, the world's biggest drinks maker, has abandoned its pursuit of Sweden's Absolut Vodka after buying into its Dutch rival, the vodka brand Ketel One.

Iran's president, Mahmoud Ahmadinejad, has come under attack for his views on the Holocaust from an unexpected quarter - a Palestinian activist recently freed after 18 years in an Israeli jail.

Take a bus trip through Costa Rica and it will quickly become clear that every village, no matter how small, has a church, a school and a football pitch. Which is why Alexandre Guimaraes, the Ticos' coach, responded to a draw that pitted his team against the hosts in tonight's opening game of the World Cup with the words: "It is an honour."

Some accuse David Cameron of a lack of substance. I hope they are feeling chastened today: this is a man whose announcement that he wants to make us happy is swiftly followed by the news that one of his favourite songs is Benny Hill's Ernie. Implementation in three days. Impressive.

Dozens more people, mostly prisoners, were killed and the streets of Brazil's business capital gripped by fear yesterday as a crime wave of unprecedented violence swept over Sao Paulo for a third night, taking the overall death toll to more than 70.

It's not just love in the air this week. Besides the flowers and chocolates being delivered for Valentine's Day, City workers will be kept busy with a number of heavyweight corporates stepping up to post their results.

PERNOD RICARD, the French drinks group behind Martell cognac and Havana Club rum, has appointed advisers to look at a possible takeover deal for its rival, Allied Domecq.

As the US dollar continued its slide yesterday Diageo become a talking point in City dealing rooms, with traders concerned that the drinks giant will be adversely affected by the weakness of the greenback at what is a crucial time of year for the drinks company.

Diageo intends to cap its dividend payouts from next year, opting instead to hand back cash to investors via share buy-backs.

Shares in Diageo rose yesterday after the drinks giant moved to sell the bulk of its $3.5bn (£2bn) shareholding in General Mills, raising hopes that it would return the cash to shareholders.