In Short

A short look at what is happening in the world of finance this morning.

Microsoft to pay €635m in anti-trust suit

Microsoft said yesterday it would pay RealNetworks $761 million (€635 million) to settle an anti-trust suit, which accused the world's largest software maker of using its dominance to promote its own software.

RealNetworks, maker of Real internet media software, has said Microsoft's decision to bundle Windows Media Player for free with the Windows operating system was to blame for slower sales at RealNetworks.

The firm's suit, filed nearly two years ago, was the last remaining major anti-trust action against Microsoft, which has spent the past three years reaching agreements with several US states, the European Union and other companies, including IBM, Time Warner and Sun Microsystems. - (Reuters)

Energy firm buys exploration option

Exploration and production group Petroceltic Resources said yesterday that Independent Resources had paid $400,000 (€333,660) for an option to acquire a 38 per cent stake in its Ksar Hadada contract in Tunisia.

Independent has until March 2008 to exercise the option, which would require it to pay 40 per cent of all future exploration and drilling costs at the site.

Petroceltic will continue to operate the contract, even if the option is exercised.

Datalex chief pays €61,000 for shares

Michael Quinn, the executive chairman of Datalex, spent €61,000 buying 100,000 shares in the company at 61 cent each yesterday.

Non-executive director Cormac Whelan also emerged as a buyer of stock in the travel software group yesterday, acquiring 175,000 shares at 62 cent each for a total cost of €108,500.

O2 to refund €1m to German clients

O2 is to return almost €1 million to customers in Germany who unwittingly entered into expensive subscription deals by giving their mobile number to firms selling services over the internet.

An O2 Germany spokesman said yesterday that the customers were surprised by large mobile phone bills after entering their phone numbers into windows on websites as a payment method. He said O2 had voluntarily decided to pay the customers back directly as it did not want to put people off using their mobiles to pay for goods and services. - (Reuters)

ECB raises fresh concern over Fazio

Antonio Fazio, the Bank of Italy governor, was under renewed pressure yesterday to explain his conduct in a cross-border bank takeover controversy, after fresh concerns emerged at the European Central Bank (ECB).

An ECB document reflects uneasiness that Mr Fazio might not have adequately fulfilled his duties as the regulator of the Italian banking system, according to those with knowledge of the document.

Mr Fazio is under investigation by prosecutors for suspected abuse of office. But the Bank of Italy said the ECB had not yet reached a "conclusive opinion" on the handling of the takeover battle for Banca Antonveneta. - (Financial Times service)

Oil use to rise by 1.75 million barrels

Global oil consumption is expected to increase by 1.75 million barrels a day next year to 85.2 million barrels a day, suggesting that a recent fall-off in demand is temporary, the International Energy Agency, the industrialised countries' watchdog, said yesterday. - (Financial Times service)