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Oil soars as stocks fall on economy fears

NEW YORK (Reuters) - Oil shot to a record $139 a barrel on Friday, pushed higher by a falling dollar after a report of the sharpest one-month rise in the U.S. unemployment rate in 22 years sparked fears of 1970s-like stagflation and led to a rout in global equities.

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Oil soars as stocks fall on economy fears

Baugur boss loses court appeal

REYKJAVIK (Reuters) - Baugur executive chairman Jon Asgeir Johannesson lost his appeal against a conviction for breaking Iceland’s accounting laws, a court document showed on Friday, and could have to quit the board of the investment firm.

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Baugur boss loses court appeal

Oil zooms nearly 9 pct higher to $139

NEW YORK (Reuters) - Oil jumped nearly 9 percent to a record $139 a barrel on Friday, extending a two-day rally to more than $16 as the slumping U.S. dollar and mounting tensions between …

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Oil zooms nearly 9 pct higher to $139

Oil zooms 8 pct higher to record $139

NEW YORK (Reuters) - Oil jumped more than 8 percent to a record $139 a barrel on Friday, extending a two-day rally to more than $16 as the slumping U.S. currency and rising tensions between Israel and Iran attracted a flood of buyers.

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Oil zooms 8 pct higher to record $139

U.S. jobs data takes FTSE lower

LONDON (Reuters) - The blue chip index ended nearly 1.5 percent weaker on Friday, led lower by banks, as unemployment data underlined worries about the U.S. economy and pressured global stock markets.

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U.S. jobs data takes FTSE lower

BP holds talks with Russian partners amid row

MOSCOW, Jun (Reuters) - BP Chief Executive Tony Hayward held talks with a Russian shareholder of BP’s local venture on Friday after an outbreak of public sparring between the partners amid speculation the Russian side could sell out.

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BP holds talks with Russian partners amid row

British Energy may reach deal next week

LONDON (Reuters) - The UK could reach a deal to sell its 35 percent stake in nuclear operator British Energy as early as late next week, sources familiar with the matter said on Friday.

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British Energy may reach deal next week

RBS rights issue take-up seen near 95 percent

LONDON (Reuters) - Royal Bank of Scotland is expected to have received a strong take-up for its 12 billion pound rights issue by its close on Friday, helping it survive a scare that the record offer could fail.

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RBS rights issue take-up seen near 95 percent

Aer Lingus expects to break even at best in 08

DUBLIN (Reuters) - Irish carrier Aer Lingus said on Friday it would at best break even this year, as the slowing world economy, the weakness of sterling and the dollar and rising fuel costs continued to bite.

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Aer Lingus expects to break even at best in 08

Wall Street banks due for “historic” mergers

(Reuters) - A “historic” consolidation of U.S. investment banks with domestic or foreign commercial banks could be in the offing as soon as next year, as lower risk-taking and return-potential force Wall Street banks to seek out new partners, Fox-Pitt Kelton analyst David Trone said.

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Wall Street banks due for “historic” mergers