With its proposed "merger of equals" with Anglo American showing signs of fizzling out, the Switzerland-based mining giant Xstrata intends launching a fresh bid for the world's third-ranking platinum producer, the South Africa-based Lonmin, which was earlier called Lonrho.

After Xstrata's previous hostile acquisition bid of £5 billion for Lonmin last October - a bid that Xstrata had to forfeit due to the recession-hit crashed markets and shrunken sources of funding -, Xstrata now plans to offer over £3 billion for the proposed takeover.

With the first quarter exports and investments in Germany nose-diving to their lowest ever, the German economy has reported its biggest retrenchment since reunification. However, a somewhat strong consumer spending slightly eased out the situation for the Europe's largest economy's "deepest slump" on record!

The Federal Statistics Office in Wiesbaden confirmed the preliminary estimates on Tuesday, noting that the country's quarter-over-quarter GDP - gross domestic product - for the January-March quarter shriveled 3.8 percent; while the year-over-year figures shrank 6.7 percent.