LONDON, July 29 (Reuters) – Oil rose above $125 a barrel on Tuesday as disruption to Nigerian output raised supply concerns, but signs of weakening U.S. demand limited gains. Royal Dutch Shell said it was assessing the impact of an attack by militants on a Nigerian pipeline that sparked Monday's price rise. But analysts said
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LONDON, July 29 (Reuters) – Approvals for new home loans in Britain fell to a record low in June, Bank of England data showed on Tuesday, pointing to further sharp falls in house prices in the months ahead. The Bank said mortgage approvals fell to 36,000 last month from a downwardly revised 41,000 in May.
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World stocks hit a two-week low on Tuesday after Merrill Lynch said it would take a $5.7 billion writedown to offload toxic debt, upsetting investors already nervous about the health of the financial sector. Oil rose for a second day in a row from last week's seven-week trough as tensions in Iran and Nigeria stirred
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Cyprus’s cultural week as part of the “European Cultural Month” organized by the French presidency of the EU was launched on Monday in Paris. Ten Greek Cypriot and two Turkish Cypriot artists are presenting their work at seven sites in the French capital, providing a different happening each day of the week. The French presidency
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Bank of Cyprus Public Company Ltd announced that in relation to the issue of Convertible Bonds 2013/2018 (the “Convertible Bonds”), as at close of business on 28th July 2008 the Bank had received applications amounting to a total of €487 mln. These subscriptions relate to applications received by Eligible Shareholders (on the basis of €1
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Merrill Lynch & Co said it will take a $5.7 billion third-quarter write-down as it unloads huge amounts of risky debt, and will raise $8.5 billion by selling new stock. The Wall Street investment bank and brokerage announced its plans less than two weeks after posting a $4.9 billion second- quarter loss, hit by $9
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Asian stocks fell sharply on Tuesday, after Merrill Lynch, the third-largest U.S. investment bank, said it would take a $5.7 billion write down related to bad debt, draining confidence in the unstable financial sector. Coming a day after one of Australia's top banks said it would write down more than $1 billion in credit-related losses,
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A strike by about 4,000 Lufthansa cabin and ground staff over pay caused only minor disruption in Germany on Monday but a number of European flights were likely be cancelled on Tuesday, the airline said. Maintenance work on nine aircraft, six in Frankfurt and three in Munich, was not performed as scheduled and they would
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The Bush administration on Monday projected the U.S. budget deficit will soar to a record of nearly half a trillion dollars in fiscal 2009 as a housing-led economic slowdown cuts into government revenues. The economic and fiscal deterioration will complicate efforts to bring the budget to balance and pose challenges for whoever takes over the
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* Budget deficit expected to hit record high in 2009 Presidential rivals Barack Obama and John McCain shifted the campaign focus back to the faltering U.S. economy on Monday, with Obama convening an all-star panel of advisers to help him hatch new approaches to a deepening problem. Obama met in Washington with a group that
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