Dell took a long-awaited step towards diversifying its business when it agreed to pay $3.9billion for Perot Systems,an IT services company.The computer-maker obtains most of its revenue from selling hardware and related products to companies,which leaves it vulnerable to business downturns.Perot Systems,founded by Ross Perot,a former presidential candidate,receives most of its income from government and health-care contracts,a more stable source of revenue which will increase if the American government digitises patients ’records as promised. The Federal Open Market Committee issued an upbeat statement on America ’s economy and held interest rates at a record low.It also extended its $1.25trillion programme of buying mortgage-backed securities into the first quarter of 2010. Britain ’s Lloyds Banking Group announced that “in light of improving economic conditions ”it would seek to reduce the amount of toxic assets to be ring-fenced in the government ’s asset-protection scheme. Royal Bank of Scotland also wants to reduce its participation in the scheme.See article Bank of America paid $425m to leave a federal programme that guaranteed the assets it acquired when it took over Merrill Lynch.BofA said the move was part of its plan “to reduce its reliance on government support and return to normal market funding ”.The bank also named Charles Holliday,a former boss of DuPont,to its board,the sixth new appointment since June. Meanwhile,the Securities and Exchange Commission promised to “vigorously pursue ”its case against BofA for allegedly misleading shareholders about bonuses paid to Merrill Lynch executives.A judge recently threw out the SEC ’s settlement with the bank and ordered a trial;the agency hinted at additional charges. The European Commission unveiled its suggestions for creating new “super-regulators ”for Europe ’s banking sector and financial markets,saying it wanted “to protect European taxpayers from a repeat of the dark days of autumn 2008”.All 27member states need to agree to the proposal,which will face some stiff opposition,not least from Britain;City regulators have already balked at handing over powers to Brussels. It emerged that Christopher Dodd,who heads the Senate Banking Committee,is preparing a bill to merge the oversight activities of the four federal agencies that supervise banks into one super-regulator, thus flying in the face of the government ’s plan to keep the agencies separate. Spain ’s Banco Santander released details of its planned initial public offering for its Brazilian subsidiary. If successful,the IPO will be Brazil ’s biggest ever,raising up to $7.3billion.Brazil Santander could have a market value of up to $52billion,placing it among the world ’s top 30banks. Jaguar Land Rover,a British carmaker owned by India ’s Tata,announced a streamlining and greening plan that will include lighter materials and hybrid technology for Land Rover SUVs as well as Jaguar cars. Cost-cutting measures should avoid enforced redundancies but will lead to the closure of one of its plants. A big tax incentive The Internal Revenue Service extended until October 15th a deadline by which Americans can disclose secret accounts they hold at UBS and other foreign banks.Lawyers asked for more time to submit papers from their clients following a settlement between the IRS and the Swiss bank,in which it will divulge the names of about 4,450account-holders. The Association of American Publishers and the Authors Guild said they had noted the objections raised to their proposed settlement with Google over its plans for an online digital library of out-of-print books, and asked a court to postpone a hearing on the matter so they could amend the agreement.The Justice laws. China filed an appeal against a ruling by the WTO that calls for the country to lift restrictions against American books,films and music.Such imports are channelled through state-run distributors,which China argues is necessary to protect public decency and culture. Dow Jones decided to close the Far Eastern Economic Review,which has chronicled Asia ’s development since the end of the second world war.See article More for your daily cuppa The price of tea hit another high because of drought in Kenya,the largest exporter.In Sri Lanka,tea workers are demanding a 75%increase in their daily wage,to 500Sri Lankan rupees （$4）.A survey in 2007found a third of plantation employees live in poverty.