Oil jumps up as OPEC surprises with output cut

September 9, 2008 on 11:36 pm | In Business News | No Comments

SEOUL (Reuters) - Oil prices jumped more than $1 a barrel on Wednesday, rebounding from a five-month low after OPEC surprised traders with a deal to effectively cut production by just over 500,000 barrels per day (bpd) from July levels.

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Oil jumps up as OPEC surprises with output cut

Oil jumps as OPEC announces output cut

September 9, 2008 on 10:17 pm | In Business News | No Comments

SEOUL (Reuters) - Oil prices jumped more than $1 a barrel on Wednesday, reversing early losses after OPEC unexpectedly agreed to effectively cut production by just over 500,000 barrels per day (bpd) from July levels.

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Oil jumps as OPEC announces output cut

Lehman shares sink

September 9, 2008 on 8:57 pm | In Business News | No Comments

NEW YORK (Reuters) - Lehman Brothers Holdings Inc shares sank 45 percent on Tuesday on growing concern the fourth-largest Wall Street investment bank won’t be able to raise the capital it desperately needs to survive the global credit crisis.

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Lehman shares sink

Research says economy shrank in 3 months to Aug

September 9, 2008 on 7:27 pm | In Business News | No Comments

LONDON (Reuters) - Britain’s economy shrank 0.2 percent in the three months to August after a 0.1 percent fall in GDP in the three months to July, the National Institute of Economic and Social Research said on Wednesday.

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Research says economy shrank in 3 months to Aug

UK commercial building slump gathers speed

September 9, 2008 on 7:23 pm | In Business News | No Comments

LONDON (Reuters) - Commercial building activity in the United Kingdom posted its biggest monthly fall in at least five-and-a-half years in August and was set to continue tumbling in the autumn, a key industry survey showed on Wednesday.

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UK commercial building slump gathers speed

Lehman shares sink 45 percent on capital worries

September 9, 2008 on 6:05 pm | In Business News | No Comments

NEW YORK (Reuters) - Lehman Brothers Holdings shares sank 45 percent on Tuesday on growing concern the fourth-largest Wall Street investment bank won’t raise sufficient capital to survive the global credit crisis.

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Lehman shares sink 45 percent on capital worries

Brent oil falls below $100 a barrel

September 9, 2008 on 3:55 pm | In Business News | No Comments

LONDON (Reuters) - Brent crude oil prices fell below $100 a barrel for the first time in five months on Tuesday on expectations that OPEC would leave formal output targets unchanged and as Hurricane Ike’s threat to U.S. Gulf of Mexico energy infrastructure receded.

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Brent oil falls below $100 a barrel

Lehman stock sinks on capital worry

September 9, 2008 on 2:50 pm | In Business News | No Comments

NEW YORK (Reuters) - Lehman Brothers Holdings Inc shares sank as much as 40 percent on Tuesday on concern that talks on a possible investment from Korea Development Bank had broken down and that the fourth-largest Wall Street investment bank would be unable to raise needed capital.

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Lehman stock sinks on capital worry

Reed seen offering vendor financing for sale of unit

September 9, 2008 on 2:13 pm | In Business News | No Comments

NEW YORK (Reuters) - Reed Elsevier is offering vendor financing from its own balance sheet and a staple financing package through banks for the potential buyer of its trade publications unit, a source briefed on the matter said.

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Reed seen offering vendor financing for sale of unit

Nokia says eyes more Internet buys

September 9, 2008 on 1:54 pm | In Business News | No Comments

HELSINKI (Reuters) - Nokia’s Internet offering is still a work in progress and the world’s top cell phone maker is seeking further acquisitions to speed up the roll out of new services, Niklas Savander, the head of the unit, said in an interview.

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Nokia says eyes more Internet buys

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