Oil prices recovered towards $77 a barrel on Monday, aided by a weaker U.S. dollar, but investors kept a wary eye on debt-laden Dubai and its impact on the global economy. Signs of a sluggish recovery in oil demand and high fuel stockpiles in the United States have kept a lid on crude prices, which
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Bank of Ireland has become less optimistic about the discount it expects to book on the loans it will transfer to Ireland's "bad bank", potentially increasing the amount of extra capital it will need to raise. Ireland's biggest lender by market value said it expected the discount applied to up to 16 billion euros ($23.9
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European shares fell in early trading on Monday, led lower by oil producers and financial stocks, as concerns about the impact of a debt default in Dubai continued to put pressure on the equity market. By 0946 GMT, the pan-European FTSEurofirst 300 index of top shares was down 1 percent at 989.44 points after rising
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British consumers repaid the highest amount of unsecured credit on record in October, reducing their debt at twice the rate economists had expected, Bank of England data showed on Monday. Net consumer credit fell for the fourth straight month in October, dropping by 579 million pounds in October after a 299 million pound decline the
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Somali pirates have seized a Greek-flagged oil tanker near the Seychelles, more than 700 miles off the coast of Somalia, Greece's coastguard said on Monday. The 300,294-dwt Maran Centaurus was sailing from Kuwait to the Gulf of Mexico with a crew of 28 when it was seized early on Sunday. "About nine armed pirates attacked
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Greece's main opposition New Democracy party has chosen Antonis Samaras, a former foreign minister and party rebel, as its new leader, to help the ailing conservatives recover from stinging electoral defeat last month. Samaras, 58, who trained as an economist at Harvard and Amherst College in the United States, won 50 percent of the vote
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According to the Bank of Cyprus Dividend Reinvestment Plan, the price at which the interim dividend for 2009 will be reinvested into shares is EUR4,25. It is reminded that the price was calculated according to the terms of the Plan, based on the applicable 10% discount on the weighted average closing price of the share
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Switzerland voted to ban the construction of new minarets on Sunday, a surprise result certain to embarrass the neutral government and which the justice minister said could affect Swiss exports and tourism. The Swiss news agency ATS and other media said about 57.5 percent of voters and all but four of the 26 cantons approved
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By Simon Rabinovitch and Aileen Wang Meng Ni and Fan Zhiqing said "I do" to each other in the same month that they said "we do" to their real estate agent. China is in the midst of a golden age of weddings, a boon for businesses from photo studios to global platinum miners. Yet nowhere
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The head of the Bank of Japan said the bank will act decisively in the event of renewed financial market turmoil, his strongest hint yet at fresh support for the economy that analysts say could involve buying more government bonds or a return to quantitative easing. A government spokesman said quantitative easing will indeed be
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