Oil eased below $64 a barrel on Tuesday, falling for the fifth consecutive session on doubts over global economic recovery and potential improvement in demand for fuel. U.S. light crude for August delivery fell 49 cents to $63.56 a barrel by 0816 GMT, having settled down 4 percent on Monday at $64.05, its lowest settlement
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Britain's top share index rose slightly in early trade on Tuesday, as gains from miners and some defensive shares outweighed weakness among oil stocks. By 0805 GMT, the FTSE 100 was up 7.13 points or 0.2 percent at 4,202.04, after falling 1 percent to a two-month low on Monday. The index has gained 21.3 percent
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British housebuilder Persimmon said volumes and forward orders were ahead of 2008 comparisons and it expected no more writedowns of the value of its land holdings, boosting shares in the sector on Tuesday. Britain's largest housebuilder by market value also said it had cut its debt by nearly half in the past 12 months to
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British manufacturing output unexpectedly shrank in May, official data showed on Tuesday, making it less likely the economy returned to growth in the second quarter. Manufacturing output fell 0.5 percent on the month in May, versus expectations of a 0.2 percent rise. April's figures were revised down to show no change instead of the 0.2
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The global economy is stabilising as China gains pace and the U.S. economy possibly nears a turning point, Australia's central bank said on Tuesday, while markets struggled to shake off doubts about the speed of any recovery. Last week's grim U.S. jobs report fuelled fears that further job losses could sour the consumer mood and
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Turkey can join the European Union provided it meets its obligations to the Union and its member states, including Cyprus, the Chairman of the Cyprus House Committee on European Affairs Nicos Kleanthous has said. Kleanthous was speaking during the Conference of Community and European Affairs Committees of Parliaments of the EU (COSAC), which started on
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Cyprus and Armenia are clearly in favour of the accession of a modern Turkey to the EU, the Presidents of the two countries said here on Monday, after talks at the Presidential Palace. Responding to a question, at a joint press conference with his Armenian counterpart Serzh Sargsyan, Cyprus President Demetris Christofias said there are
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Sony Corp said on Tuesday it plans to launch a new Vaio laptop that will sell for around 60,000 yen ($629) in Japan in August, making its entry into the fast-growing netbook market. Netbook PCs are smaller and cheaper than traditional notebook computers and optimized for simpler computing tasks such as Web browsing and email.
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Britain's economy is not yet out of recession despite a marked easing in the pace of decline in the manufacturing and services sectors in the second quarter, a survey by the British Chambers of Commerce suggested on Tuesday. The BCC's quarterly economic survey of more than 5,600 businesses showed sales and orders continued to fall
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The United States should be planning for a possible second round of fiscal stimulus to further prop up the economy after the $787 billion rescue package launched in February, an adviser to President Barack Obama said. "We should be planning on a contingency basis for a second round of stimulus," Laura D'Andrea Tyson, a member
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