Orange colour clash set for court
A row over the colour orange could hit the courts after mobile phone giant Orange launched action against a new mobile venture from Easyjet's founder.…
Split-caps pay £194m compensation
Investors who lost money following the split-capital investment trust scandal are to receive £194m compensation, the UK's financial watchdog has annou…
US trade gap hits record in 2004
The gap between US exports and imports hit an all-time high of $671.7bn (£484bn) in 2004, latest figures show. The Commerce Department said the trade …
MCI shareholder sues to stop bid
A shareholder in US phone firm MCI has taken legal action to halt a $6.75bn (£3.6bn) buyout by telecoms giant Verizon, hoping to get a better deal. Th…
Standard Life concern at LSE bid
Standard Life is the latest shareholder in Deutsche Boerse to express concern at the German stock market operator's plans to buy the London Stock Exch…
Markets fall on weak dollar fears
Rising oil prices and the sinking dollar hit shares on Monday after a finance ministers' meeting and stern words from Fed chief Alan Greenspan. The Lo…
Standard Life cuts policy bonuses
Standard Life, Europe's largest mutual life insurer, has cut bonuses for with-profit policyholders. Annual bonus rates on its with-profits life polici…
Consumer spending lifts US growth
US economic growth accelerated in the third quarter, helped by strong consumer spending, official figures have shown. The economy expanded at an annua…
Dollar drops on reserves concerns
The US dollar has dropped against major currencies on concerns that central banks may cut the amount of dollars they hold in their foreign reserves. C…
Tsunami to cost Sri Lanka $1.3bn
Sri Lanka faces a $1.3bn (£691m) bill in 2005 for reconstruction after the tsunami which killed more than 30,000 of its people, its central bank says.…
China keeps tight rein on credit
China's efforts to stop the economy from overheating by clamping down on credit will continue into 2005, state media report. The curbs were introduced…
High fuel prices hit BA's profits
British Airways has blamed high fuel prices for a 40% drop in profits. Reporting its results for the three months to 31 December 2004, the airline mad…
US insurer Marsh cuts 2,500 jobs
Up to 2,500 jobs are to go at US insurance broker Marsh & McLennan in a shake up following bigger-than-expected losses. The insurer said the cuts were…
Deutsche Boerse set to 'woo' LSE
Bosses of Deutsche Boerse and the London Stock Exchange are to meet amid talk that a takeover bid for the LSE will be raised to £1.5bn ($2.9bn). Last …
Cactus diet deal for Phytopharm
A slimming aid made from a southern African cactus is set to be developed by UK firm Phytopharm and Unilever. Anglo-Dutch food giant Unilever will hel…
US data sparks inflation worries
Wholesale prices in the US rose at the fastest rate in more than six years in January, according to government data. New figures show the Labor Depart…
Egypt to sell off state-owned bank
The Egyptian government is reportedly planning to privatise one of the country's big public banks. An Investment Ministry official has told the Reuter…
France Telecom gets Orange boost
Strong growth in subscriptions to mobile phone network Orange has helped boost profits at owner France Telecom. Orange added more than five million ne…
News Corp makes $5.4bn Fox offer
News Corporation is seeking to buy out minority investors in Fox Entertainment Group, its broadcasting subsidiary, for about $5.4bn (£3.7bn). The medi…
Japan bank shares up on link talk
Shares of Sumitomo Mitsui Financial (SMFG), and Daiwa Securities jumped amid speculation that two of Japan's biggest financial companies will merge. F…
Fresh hope after Argentine crisis
Three years after Argentina was hit by a deadly economic crisis, there is fresh hope. The country's economy is set to grow about 8% this year after se…
S Korea spending boost to economy
South Korea will boost state spending next year in an effort to create jobs and kick start its sputtering economy. It has earmarked 100 trillion won (…
Winemaker rejects Foster's offer
Australian winemaker Southcorp has rejected a takeover offer worth 3.1bn Australian dollars ($2.3bn; £1.8bn) from brewing giant Foster's Group. Southc…
US Ahold suppliers face charges
US prosecutors have charged nine food suppliers with helping Dutch retailer Ahold inflate earnings by more than $800m (£428m). The charges have been b…
Worldcom ex-boss launches defence
Lawyers defending former WorldCom chief Bernie Ebbers against a battery of fraud charges have called a company whistleblower as their first witness. C…
Turkey turns on the economic charm
Three years after a gruelling economic crisis, Turkey has dressed its economy to impress. As part of a charm offensive - ahead of 17 December, when th…
Fiat chief takes steering wheel
The chief executive of the Fiat conglomerate has taken day-to-day control of its struggling car business in an effort to turn it around. Sergio Marchi…
Indonesians face fuel price rise
Indonesia's government has confirmed it is considering raising fuel prices by as much as 30%. Millions of Indonesians use kerosene for basic cooking, …
Japanese growth grinds to a halt
Growth in Japan evaporated in the three months to September, sparking renewed concern about an economy not long out of a decade-long trough. Output in…
Soaring oil 'hits world economy'
The soaring cost of oil has hit global economic growth, although world's major economies should weather the storm of price rises, according to the OEC…
Court rejects $280bn tobacco case
A US government claim accusing the country's biggest tobacco companies of covering up the effects of smoking has been thrown out by an appeal court. T…
ECB holds rates amid growth fears
The European Central Bank has left its key interest rate unchanged at 2% for the 19th month in succession. Borrowing costs have remained on hold amid …
Optimism remains over UK housing
The UK property market remains robust despite the recent slowdown, according to mortgage lender Bradford & Bingley and housebuilder George Wimpey. B&B…
Car giant hit by Mercedes slump
A slump in profitability at luxury car maker Mercedes has prompted a big drop in profits at parent DaimlerChrysler. The German-US carmaker saw fourth …
IMF 'cuts' German growth estimate
The International Monetary Fund is to cut its 2005 growth forecast for the German economy from 1.8% to 0.8%, the Financial Times Deutschland reported.…
Karachi stocks hit historic high
The Karachi Stock Exchange (KSE) has recorded its largest single day gain, surging 3.5% to a new high. The index rose 225.79 points in four hours of f…
Police detain Chinese milk bosses
Chinese police have detained three top executives at milk firm Yili, with reports suggesting that they are being investigated for embezzlement. Yili -…
China continues breakneck growth
China's economy has expanded by a breakneck 9.5% during 2004, faster than predicted and well above 2003's 9.1%. The news may mean more limits on inves…
Air China in $1bn London listing
China's national airline is to make its overseas stock market debut with a dual listing in London and Hong Kong, the London Stock Exchange (LSE) has s…
Mexican in US send $16bn home
Mexican labourers living in the US sent a record $16.6bn (£8.82bn) home last year. The Bank of Mexico said that remittances grew 24% last year and now…
Australia rates at four year high
Australia is raising its benchmark interest rate to its highest level in four years despite signs of a slowdown in the country's economy. The Reserve …
Wall Street cheers Bush victory
The US stock market has closed higher in response to George W Bush's victory in the presidential elections. The benchmark Dow Jones share index closed…
Qwest may spark MCI bidding war
US phone company Qwest has said it will table a new offer for MCI after losing out to larger rival Verizon, setting the scene for a possible bidding w…
US interest rate rise expected
US interest rates are expected to rise for the fifth time since June following the US Federal Reserve's latest rate-setting meeting later on Tuesday. …
Continental 'may run out of cash'
Shares in Continental Airlines have tumbled after the firm warned it could run out of cash. In a filing to US regulators the airline warned of "inadeq…
Chinese exports rise 25% in 2004
Exports from China leapt during 2004 over the previous year as the country continued to show breakneck growth. The spurt put China's trade surplus - a…
Europe blames US over weak dollar
European leaders have openly blamed the US for the sharp rise in the value of the euro. US officials were talking up the dollar, they said, but failin…
Mild winter drives US oil down 6%
US oil prices have fallen by 6%, driven down by forecasts of a mild winter in the densely populated northeast. Light crude oil futures fell $2.86 to $…
The 'ticking budget' facing the US
The budget proposals laid out by the administration of US President George W Bush are highly controversial. The Washington-based Economic Policy Insti…
Fosters buys stake in winemaker
Australian brewer Fosters has bought a large stake in Australian winemaker Southcorp, sparking rumours of a possible takeover. Fosters bought 18.8% of…
US trade gap ballooned in October
The US trade deficit widened by more than expected in October, hitting record levels after higher oil prices raised import costs, figures have shown T…
Bush to get 'tough' on deficit
US president George W Bush has pledged to introduce a "tough" federal budget next February in a bid to halve the country's deficit in five years. The …
Hariri killing hits Beirut shares
Shares in Solidere, the Lebanese company founded by assassinated former prime minister Rafik Hariri, fell 15% in renewed trading in Beirut. The real e…
Watchdog probes Vivendi bond sale
French stock market regulator AMF has filed complaints against media giant Vivendi Universal, its boss and another top executive. It believes the pros…
Bush budget seeks deep cutbacks
President Bush has presented his 2006 budget, cutting domestic spending in a bid to lower a record deficit projected to peak at $427bn (£230bn) this y…
US adds more jobs than expected
The US economy added 337,000 jobs in October - a seven-month high and far more than Wall Street expectations. In a welcome economic boost for newly re…
Venezuela and China sign oil deal
Venezuelan president Hugo Chavez has offered China wide-ranging access to the country's oil reserves. The offer, made as part of a trade deal between …
S&N extends Indian beer venture
The UK's biggest brewer, Scottish and Newcastle (S&N), is to buy 37.5% of India's United Breweries in a deal worth 4.66bn rupees ($106m:£54.6m). S&N w…
LSE doubts boost bidders' shares
Shares in Deutsche Boerse have risen more than 3% after a shareholder fund voiced opposition to the firm's planned takeover of the London Stock Exchan…
Fiat mulls Ferrari market listing
Ferrari could be listed on the stock market as part of an overhaul of Fiat's carmaking operations, the Financial Times has reported. It said Fiat was …
UK Coal plunges into deeper loss
Shares in UK Coal have fallen after the mining group reported losses had deepened to £51.6m in 2004 from £1.2m. The UK's biggest coal producer blamed …
Arsenal 'may seek full share listing'
Arsenal vice-chairman David Dein has said the club may consider seeking a full listing for its shares on the London Stock Exchange. Speaking at the So…
Algeria hit by further gas riots
Algeria suffered a weekend of violent protests against government plans to raise gas prices, local press reports. Demonstrators in a number of regions…
China Aviation seeks rescue deal
Scandal-hit jet fuel supplier China Aviation Oil has offered to repay its creditors $220m (£117m) of the $550m it lost on trading in oil futures. The …
US prepares for hybrid onslaught
Sales of hybrid cars in the US are set to double in 2005, research suggests. Research group JD Power estimates sales will hit 200,000 in 2005, despite…
UK bank seals South Korean deal
UK-based bank Standard Chartered said it would spend $3.3bn (£1.8bn) to buy one of South Korea's main retail banks. Standard Chartered said acquiring …
US bank in $515m SEC settlement
Five Bank of America subsidiaries have agreed to pay a total of $515m (£277m) to settle an investigation into fraudulent trading share practices. The …
Unilever shake up as profit slips
Anglo-Dutch consumer goods giant Unilever is to merge its two management boards after reporting "unsatisfactory" earnings for 2004. It blamed the poor…
Japan's ageing workforce: built to last
In his twenties he battled tuberculosis for eight years, then went on to run his own clothing business before marrying in his late thirties. And the 1…
Umbro profits lifted by Euro 2004
UK sportswear firm Umbro has posted a 222% rise in annual profit after sales of replica England football kits were boosted by the Euro 2004 tournament…
Latin America sees strong growth
Latin America's economy grew by 5.5% in 2004, its best performance since 1980, while exports registered their best performance in two decades. The Uni…
Shares rise on new Man Utd offer
Shares in Manchester United closed up 4.75% on Monday following a new offer from US tycoon Malcolm Glazer. The board of the football club is expected …
Weak dollar trims Cadbury profits
The world's biggest confectionery firm, Cadbury Schweppes, has reported a modest rise in profits after the weak dollar took a bite out of its results.…
WorldCom bosses' $54m payout
Ten former directors at WorldCom have agreed to pay $54m (£28.85m), including $18m from their own pockets, to settle a class action lawsuit, reports s…
Brazil plays down Varig rescue
The Brazilian government has played down claims that it could step in to save the country's biggest airline. Brazil's airport authority chief Carlos W…
High fuel costs hit US airlines
Two of the largest airlines in the US - American and Southwest - have blamed record fuel prices for their disappointing quarterly results. American Ai…
WorldCom director admits lying
The former chief financial officer at US telecoms firm WorldCom has admitted before a New York court that he used to lie to fellow board members. Spea…
Barclays profits hit record level
Barclays, the UK's third-biggest bank, has seen annual pre-tax profits climb to record levels boosted by a sharp rise in business at its investment ar…
Business confidence dips in Japan
Business confidence among Japanese manufacturers has weakened for the first time since March 2003, the quarterly Tankan survey has found. Slower econo…
Verizon 'seals takeover of MCI'
Verizon has won a takeover battle for US phone firm MCI with a bid worth $6.8bn (£3.6bn), reports say. The two firms are expected to seal the deal on …
Ericsson sees earnings improve
Telecoms equipment supplier Ericsson has posted a rise in fourth quarter profits thanks to clients like Deutsche Telekom upgrade their networks. Opera…
Economy 'stronger than forecast'
The UK economy probably grew at a faster rate in the third quarter than the 0.4% reported, according to Bank of England deputy governor Rachel Lomax. …
Krispy Kreme shares hit
Shares in Krispy Kreme Doughnuts have taken a dunking on Wall Street after the firm revealed it would have to restate its 2004 financial reports. The …
Irish markets reach all-time high
Irish shares have risen to a record high, with investors persuaded to buy into the market by low inflation and strong growth forecasts. The ISEQ index…
Euronext 'poised to make LSE bid'
Pan-European group Euronext is poised to launch a bid for the London Stock Exchange, UK media reports say. Last week, the LSE rejected a takeover prop…
Dollar slides ahead of New Year
The US dollar has hit a new record low against the euro and analysts predict that more declines are likely in 2005. Disappointing economic reports den…
Japanese mogul arrested for fraud
One of Japan's best-known businessmen was arrested on Thursday on charges of falsifying shareholder information and selling shares based on the false …
Japan economy slides to recession
The Japanese economy has officially gone back into recession for the fourth time in a decade. Gross domestic product fell by 0.1% in the last three mo…
Oil rebounds from weather effect
Oil prices recovered in Asian trade on Tuesday, after falling in New York on milder winter weather across the US. With winter temperatures staying rel…
Euro firms miss out on optimism
More than 90% of large companies around the world are highly optimistic about their economic prospects, a survey of 1,300 bosses suggests. Their bigge…
Bad weather hits Nestle sales
A combination of bad weather, rising raw material costs and the sluggish European economy has hit sales at Swiss food and drink giant Nestle. Revenue …
Reliance unit loses Anil Ambani
Anil Ambani, the younger of the two brothers in charge of India's largest private company, has resigned from running its petrochemicals subsidiary. Th…
Giving financial gifts to children
Your child or grandchild may want the latest toy this Christmas, but how about giving them a present that will help their financial future? Gifts of t…
Worldcom boss 'left books alone'
Former Worldcom boss Bernie Ebbers, who is accused of overseeing an $11bn (£5.8bn) fraud, never made accounting decisions, a witness has told jurors. …
Asia shares defy post-quake gloom
Indonesian, Indian and Hong Kong stock markets reached record highs. Investors seemed to feel that some of the worst-affected areas were so under-deve…
Parmalat to return to stockmarket
Parmalat, the Italian dairy company which went bust after an accounting scandal, hopes to be back on the Italian stock exchange in July. The firm gain…
Delta cuts fares in survival plan
Delta Air Lines is cutting domestic fares by as much as 50% as part of a plan to ensure its financial survival. Other US carriers, including United, h…
Russia gets investment blessing
Soaring oil sales and a budget surplus mean Russian debt is no longer a risky investment, one of the world's leading credit rating agencies says. Stan…
Israel looks to US for bank chief
Israel has asked a US banker and former International Monetary Fund director to run its central bank. Stanley Fischer, vice chairman of banking giant …
German bidder in talks with LSE
Deutsche Boerse bosses have held "constructive, professional and friendly" talks with the London Stock Exchange (LSE), its chief has said. Werner Seif…
Cairn shares up on new oil find
Shares in Cairn Energy have jumped 6% after the firm said an Indian oilfield was larger than previously thought. Cairn said drilling to the north-west…
Winter freeze keeps oil above $50
Oil prices carried on rising on Wednesday after cold weather on both sides of the North Atlantic pushed US crude prices to four-month highs. Freezing …
Google shares fall as staff sell
Shares in Google have fallen 6.7% after employees and early investors in the web search took advantage of the first chance to sell their holdings. Res…
Euronext joins bid battle for LSE
Pan-European stock market Euronext has approached the London Stock Exchange (LSE) about a possible takeover bid. "The approach is at an early stage an…
Asian quake hits European shares
Shares in Europe's leading reinsurers and travel firms have fallen as the scale of the damage wrought by tsunamis across south Asia has become apparen…
Weak dollar hits Reuters
Revenues at media group Reuters slipped 11% during 2004, mainly due to the weakness of the dollar, the group said. The company said it was optimistic …
Irish company hit by Iraqi report
Shares in Irish oil company Petrel Resources have lost more than 50% of their value on a report that the firm has failed to win a contract in Iraq. Re…
GE sees 'excellent' world economy
US behemoth General Electric has posted an 18% jump in quarterly sales, and in profits, and declared itself "in great shape". "We are benefiting from …
Q&A: Malcolm Glazer and Man Utd
The battle for control of Manchester United has taken another turn after the club confirmed it had received a fresh takeover approach from US business…
US interest rates increased to 2%
US interest rates are to rise for the fourth time in five months, in a widely anticipated move. The Federal Reserve has raised its key federal funds r…
Markets signal Brazilian recovery
The Brazilian stock market has risen to a record high as investors display growing confidence in the durability of the country's economic recovery. Th…
Marsh executive in guilty plea
An executive at US insurance firm Marsh & McLennan has pleaded guilty to criminal charges in connection with an ongoing fraud and bid-rigging probe. N…
Barclays shares up on merger talk
Shares in UK banking group Barclays have risen on Monday following a weekend press report that it had held merger talks with US bank Wells Fargo. A ti…
Shares hit by MS drug suspension
Shares in Elan and Biogen Idec plunged on Monday as the firms suspended sales of new multiple sclerosis drug Tysabri after a patient's death in the US…
News Corp eyes video games market
News Corp, the media company controlled by Australian billionaire Rupert Murdoch, is eyeing a move into the video games market. According to the Finan…
French consumer spending rising
French consumers increased their spending by 1.5% in January, a figure which bodes well for the country's economic growth, figures revealed. The Natio…
Qantas sees profits fly to record
Australian airline Qantas has posted a record fiscal first-half profit thanks to cost-cutting measures. Net profit in the six months ending 31 Decembe…
Russian oil merger excludes Yukos
The merger of Russian gas giant Gazprom and oil firm Rosneft is to go ahead, but will not include Yugansk, which was controversially bought last year.…
Yukos owner sues Russia for $28bn
The majority owner of embattled Russian oil firm Yukos has sued the Russian government for $28.3bn (£15.2bn). The Kremlin last year seized and sold Yu…
Jobs go at Oracle after takeover
Oracle has announced it is cutting about 5,000 jobs following the completion of its $10.3bn takeover of its smaller rival Peoplesoft last week. The co…
China's Shanda buys stake in Sina
Chinese online game operator Shanda Interactive Entertainment has bought a 20% stake in Sina, the country's biggest internet portal firm. The move may…
GM in crunch talks on Fiat future
Fiat will meet car giant General Motors (GM) on Tuesday in an attempt to reach agreement over the future of the Italian firm's loss-making auto group.…
Millions go missing at China bank
Two senior officials at one of China's top commercial banks have reportedly disappeared after funds worth up to $120m (£64m) went missing. The pair bo…
Khodorkovsky quits Yukos shares
Jailed tycoon Mikhail Khodorkovsky has transferred his controlling stake in oil giant Yukos to a business partner. Mr Khodorkovsky handed over his ent…
Nigeria to boost cocoa production
The government of Nigeria is hoping to triple cocoa production over the next three years with the launch of an ambitious development programme. Agricu…
Booming markets shed few tears
The market, former British government minister Michael Heseltine once said, has no morality. And indeed, stock exchange traders around Asia have waste…
Industrial output falls in Japan
Japanese industrial output fell in October while unemployment rose, casting further doubt on the strength of the country's economic recovery. Producti…
AstraZeneca hit by drug failure
Shares in Anglo-Swedish drug have closed down 8% in UK trade after the failure of its Iressa drug in a major clinical trial. The lung cancer drug did …
Takeover offer for Sunderland FC
Bob Murray, chairman of Sunderland FC, has launched a £1.5m ($2.8m) bid for the club after buying broadcaster BSkyB's stake in the business. Mr Murray…
Pernod takeover talk lifts Domecq
Shares in UK drinks and food firm Allied Domecq have risen on speculation that it could be the target of a takeover by France's Pernod Ricard. Reports…
Industrial revival hope for Japan
Japanese industry is growing faster than expected, boosting hopes that the country's retreat back into recession is over. Industrial output rose 2.1% …
Jobs growth still slow in the US
The US created fewer jobs than expected in January, but a fall in jobseekers pushed the unemployment rate to its lowest level in three years. Accordin…
Monsanto fined $1.5m for bribery
The US agrochemical giant Monsanto has agreed to pay a $1.5m (£799,000) fine for bribing an Indonesian official. Monsanto admitted one of its employee…
Fed warns of more US rate rises
The US looks set for a continued boost to interest rates in 2005, according to the Federal Reserve. Minutes of the December meeting which pushed rates…
Swiss cement firm in buying spree
Swiss cement firm Holcim has bid $800m (£429m) to buy two Indian cement firms and a holding company in the country. It plans to buy Associated Cement …
Market unfazed by Aurora setback
As the Aurora limped back to its dock on 20 January, a blizzard of photos and interviews seemed to add up to an unambiguous tale of woe. The ship had …
Man Utd to open books to Glazer
Manchester United's board has agreed to give US tycoon Malcolm Glazer access to its books. Earlier this month, Mr Glazer presented the board with deta…
Laura Ashley chief stepping down
Laura Ashley is parting company with its chief executive Ainum Mohd-Saaid. The clothing and home furnishing retailer said Ms Mohd-Saaid had resigned f…
Could Yukos be a blessing in disguise?
Other things being equal, the notion of entrepreneurs languishing in jail while their companies are sold off for a song ought to be bad for business. …
Battered dollar hits another low
The dollar has fallen to a new record low against the euro after data fuelled fresh concerns about the US economy. The greenback hit $1.3516 in thin N…
Bank payout to Pinochet victims
A US bank has said it will donate more than $8m to victims of former Chilean military ruler Augusto Pinochet's regime under a Madrid court settlement.…
Lesotho textile workers lose jobs
Six foreign-owned textile factories have closed in Lesotho, leaving 6,650 garment workers jobless, union officers told the AP news agency. Factory Wor…
'Strong dollar' call halts slide
The US dollar's slide against the euro and yen has halted after US Treasury Secretary John Snow said a strong dollar was "in America's interest". But …
US trade deficit widens sharply
The gap between US exports and imports has widened to more than $60bn (£31.7bn), an all-time record. Figures from the Commerce Department for November…
MCI shares climb on takeover bid
Shares in US phone company MCI have risen on speculation that it is in takeover talks. The Wall Street Journal reported on Thursday that Qwest has bid…
GM pays $2bn to evade Fiat buyout
General Motors of the US is to pay Fiat 1.55bn euros ($2bn; £1.1bn) to get out of a deal which could have forced it to buy the Italian car maker outri…
Why few targets are better than many
The economic targets set out at the Lisbon summit of European Union leaders in 2000 were meant to help Europe leapfrog its way past the United States …
Saudi NCCI's shares soar
Shares in Saudi Arabia's National Company for Cooperative Insurance (NCCI) soared on their first day of trading in Riyadh. They were trading 84% above…
Cannabis hopes for drug firm
A prescription cannabis drug made by UK biotech firm GW Pharmaceuticals is set to be approved in Canada. The drug is used to treat the central nervous…
US company admits Benin bribery
A US defence and telecommunications company has agreed to pay $28.5m after admitting bribery in the West African state of Benin. The Titan corporation…
Novartis hits acquisition trail
Swiss drugmaker Novartis has announced 5.65bn euros ($7.4bn; £3.9bn) of purchases to make its Sandoz unit the world's biggest generic drug producer. N…
Ore costs hit global steel firms
Shares in steel firms have dropped worldwide amid concerns that higher iron ore costs will hit profit growth. Shares in Germany's ThyssenKrupp, the UK…
INGP surges ahead on high oil price
Oil giant INGP has announced a 26% rise in annual profits to $16.2bn (£8.7bn) on the back of record oil prices. Last week, rival Shell reported an ann…
WMC says Xstrata bid is too low
Australian mining firm WMC Resources has said it is worth up to 30% more than a hostile 7.4bn Australian dollar ($5.8bn; £3bn) bid by rival Xstrata. T…
Asian banks halt dollar's slide
The dollar regained some lost ground against most major currencies on Wednesday after South Korea and Japan denied they were planning a sell-off. The …
EMI shares hit by profit warning
Shares in music giant EMI have sunk by more than 16% after the firm issued a profit warning following disappointing sales and delays to two album rele…
Tsunami cost hits Jakarta shares
The stock market in Jakarta has seen its biggest slide in a month, after the country doubled the likely cost of rebuilding from the Asian tsunami. The…
Wembley firm won't make a profit
Shares in Multiplex Group, which is building the new Wembley stadium, fell as much as 19% after it said it would not make any money on the project. Th…
Irish duo could block Man Utd bid
Irishmen JP McManus and John Magnier, who own a 29% stake in Manchester United, will reportedly reject any formal £800m offer for the club. The Sunday…
Profits stall at China's Lenovo
Profits at Chinese computer firm Lenovo have stood still amid slowing demand at home and stiffening competition. The firm is in the international spot…
Cuba winds back economic clock
Fidel Castro's decision to ban all cash transactions in US dollars in Cuba has once more turned the spotlight on Cuba's ailing economy. All conversion…
Weak end-of-year sales hit Next
Next has said its annual profit will be £5m lower than previously expected because its end-of-year clearance sale has proved disappointing. "Clearance…
Sluggish economy hits German jobs
The number of people out of work in Europe's largest economy has risen for the tenth straight month as growth remains stubbornly slow. German unemploy…
Giant waves damage S Asia economy
Governments, aid agencies, insurers and travel firms are among those counting the cost of the massive earthquake and waves that hammered southern Asia…
UK young top Euro earnings league
British children enjoy the highest average annual income in Europe - more than double that of Spanish or Italian youngsters, a report suggests. Childr…
French suitor holds LSE meeting
European stock market Euronext has met with the London Stock Exchange (LSE) amid speculation that it may be ready to launch a cash bid. Euronext chief…
India-Pakistan peace boosts trade
Calmer relations between India and Pakistan are paying economic dividends, with new figures showing bilateral trade up threefold in the summer. The va…
US gives foreign firms extra time
Foreign firms have been given an extra year to meet tough new corporate governance regulations imposed by the US stock market watchdog. The Securities…
Nortel in $300m profit revision
Telecoms equipment maker Nortel Networks has sharply revised downwards its profits for the 2003 fiscal year. In a long-awaited filing, Nortel said it …
Turkey knocks six zeros off lira
Turkey is to relaunch its currency on Saturday, knocking six zeros off the lira in the hope of boosting trade and powering its growing economy. The ch…
Profits slide at India's Dr Reddy
Profits at Indian drugmaker Dr Reddy's fell 93% as research costs rose and sales flagged. The firm said its profits were 40m rupees ($915,000; £486,00…
Dollar gains on Greenspan speech
The dollar has hit its highest level against the euro in almost three months after the Federal Reserve head said the US trade deficit is set to stabil…
Wall Street cool to eBay's profit
Shares in online auction house eBay fell 9.8% in after-hours trade on Wednesday, after its quarterly profits failed to meet market expectations. Despi…
Worldcom director ends evidence
The former chief financial officer at US telecoms firm WorldCom has finished giving evidence at the trial of his ex-boss Bernie Ebbers. Scott Sullivan…
Brewers' profits lose their fizz
Heineken and Carlsberg, two of the world's largest brewers, have reported falling profits after beer sales in western Europe fell flat. Dutch firm Hei…
Huge rush for Jet Airways shares
Indian airline Jet Airways' initial public offering was oversubscribed 16.2 times, bankers said on Friday. Over 85% of the bids were at the higher end…
Weak data buffets French economy
A batch of downbeat government data has cast doubt over the French economy's future prospects. Official figures showed on Friday that unemployment was…
Crude oil prices back above $50
Cold weather across parts of the United States and much of Europe has pushed US crude oil prices above $50 a barrel for the first time in almost three…
Mixed reaction to Man Utd offer
Shares in Manchester United were up over 5% by noon on Monday following a new offer from Malcolm Glazer. The board of Man Utd is expected to meet earl…
Parmalat founder offers apology
The founder and former boss of Parmalat has apologised to investors who lost money as a result of the Italian dairy firm's collapse. Calisto Tanzi sai…
US budget deficit to reach $368bn
The US budget deficit is set to hit a worse-than-expected $368bn (£197bn) this year, officials said on Tuesday. The cost of military operations still …
China continues rapid growth
China's economy has expanded by a breakneck 9.5% during 2004, faster than predicted and well above 2003's 9.1%. The news may mean more limits on inves…
Deadline nears for Fiat-GM deal
Fiat and General Motors (GM) have until midnight on 1 February to settle a disagreement over a potential takeover. The deadline marks the point at whi…
Jarvis sells Tube stake to Spain
Shares in engineering group Jarvis have soared more than 16% on news that it is offloading its stake in London underground consortium Tube Lines. The …
Gaming firm to sell UK dog tracks
Six UK greyhound tracks have been put up for sale by gaming group Wembley as part of a move which will lead to the break-up of the group. Wembley anno…
SEC to rethink post-Enron rules
The US stock market watchdog's chairman has said he is willing to soften tough new US corporate governance rules to ease the burden on foreign firms. …
UK 'risks breaking golden rule'
The UK government will have to raise taxes or rein in spending if it wants to avoid breaking its "golden rule", a report suggests. The rule states tha…
US regulator to rule on pain drug
US food and drug regulators will decide on Friday whether to recommend the sale of painkillers that have been linked to a high risk of heart attack an…
Tobacco giants hail court ruling
US tobacco companies have welcomed an appeal court's decision to reject the government's $280bn (£155bn) claim for alleged deceit about smoking danger…
Borussia Dortmund near bust
German football club and former European champion Borussia Dortmund has warned it will go bankrupt if rescue talks with creditors fail. The company's …
Oil prices reach three-month low
Oil prices have fallen heavily for a second day, closing at three-month lows after news that US crude stocks have improved ahead of winter. London Bre…
EU to probe Alitalia 'state aid'
The European Commission has officially launched an in-depth investigation into whether Italian airline Alitalia is receiving illegal state aid. Commis…
Durex maker SSL awaits firm bid
UK condom maker SSL International has refused to comment on reports it may be subject to a takeover early in 2005. A Financial Times report said busin…
Bombardier chief to leave company
Shares in train and plane-making giant Bombardier have fallen to a 10-year low following the departure of its chief executive and two members of the b…
Economy 'strong' in election year
UK businesses are set to prosper during the next few months - but this could trigger more interest rate rises, according to a report. Optimism is at i…
US crude prices surge above $53
US crude prices have soared to fresh four-month highs above $53 in the US as refinery problems propelled petrol prices to an all-time high. US light s…
Troubled Marsh under SEC scrutiny
The US stock market regulator is investigating troubled insurance broker Marsh & McLennan's shareholder transactions, the firm has said. The Securitie…
Rescue hope for Borussia Dortmund
Shares in struggling German football club Borussia Dortmund slipped on Monday despite the club agreeing a rescue plan with creditors on Friday. The cl…
Wal-Mart fights back at accusers
Two big US names have launched advertising campaigns to "set the record straight" about their products and corporate behaviour. The world's biggest re…
Dollar hovers around record lows
The US dollar hovered close to record lows against the euro on Friday as concern grows about the size of the US budget deficit. Analysts predict that …
Cairn shares slump on oil setback
Shares in Cairn Energy, a UK oil firm, have closed down 18% after a disappointing drilling update and a warning over possible tax demands. The company…
Asia shares defy post-quake gloom
Thailand has become the first of the 10 southern Asian nations battered by giant waves at the weekend to cut its economic forecast. Thailand's economy…