Oil climbs $1 higher

September 10, 2008 on 10:31 pm | In Business News | No Comments

SINGAPORE (Reuters) - Oil prices bounded more than $1 higher on Thursday after falling to another five-month low the previous day, drawing support from Hurricane Ike and OPEC’s surprise output cut while wary traders watched the U.S. dollar.

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Oil climbs $1 higher

Pentagon hands tanker tangle to next president

September 10, 2008 on 4:25 pm | In Business News | No Comments

WASHINGTON (Reuters) - The U.S. Defence Department has ended for now a $35 billion (19.9 billion pound) transatlantic aerial-refuelling competition, handing a nagging seven-year headache to the next administration and boosting Boeing Co’s hopes to keep Airbus planes out of the Air Force fleet.

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Pentagon hands tanker tangle to next president

Oil falls as dealers shrug OPEC cut

September 10, 2008 on 3:41 pm | In Business News | No Comments

NEW YORK (Reuters) - Oil prices dipped to fresh five-month lows on Wednesday as weak demand and a strong dollar offset a surprise OPEC production cut agreement and back-to-back hurricanes in the Gulf of Mexico that have started cutting deeply into U.S. energy supplies.

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Oil falls as dealers shrug OPEC cut

GKN may buy Airbus plant for up to 150 million pounds

September 10, 2008 on 3:26 pm | In Business News | No Comments

LONDON (Reuters) - British aerospace company GKN is set to buy a wings factory at Filton in Britain from European planemaker Airbus for up to 150 million pounds, a source with knowledge of the deal said on Wednesday.

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GKN may buy Airbus plant for up to 150 million pounds

Pentagon punts tanker decision to next president

September 10, 2008 on 3:12 pm | In Business News | No Comments

WASHINGTON (Reuters) - The U.S. Defence Department ended for now a $35 billion (19.9 billion pound) transatlantic aerial-refuelling competition, handing a nagging seven-year headache to the next administration and boosting Boeing Co’s hopes to keep Airbus …

Pentagon punts tanker decision to next president

BP holding back Caspian pipeline expansion

September 10, 2008 on 1:04 pm | In Business News | No Comments

MOSCOW (Reuters) - The head of Russian pipeline monopoly Transneft said oil major BP is against expanding the Caspian pipeline until more funding is secured.

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BP holding back Caspian pipeline expansion

Europe acknowledges sharp economic downturn

September 10, 2008 on 12:58 pm | In Business News | No Comments

PARIS/BRUSSELS (Reuters) - The European Commission slashed its economic growth forecasts for Europe on Wednesday in an admission that a downturn which began in the United States is hitting far harder than many imagined six months ago.

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Europe acknowledges sharp economic downturn

FTSE ends down as Lehman deepens banking gloom

September 10, 2008 on 12:34 pm | In Business News | No Comments

LONDON (Reuters) - The top share index ended almost 1 percent down on Wednesday as weak Lehman Brothers results focused …

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FTSE ends down as Lehman deepens banking gloom

Oil falls as slowing demand outweighs OPEC cut

September 10, 2008 on 11:58 am | In Business News | No Comments

LONDON (Reuters) - Oil fell on Wednesday as slowing demand outweighed an unexpected OPEC crude production cut and a steep drop in U.S. inventories.

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Oil falls as slowing demand outweighs OPEC cut

Banks and miners drag down shares

September 10, 2008 on 11:55 am | In Business News | No Comments

LONDON (Reuters) - European shares declined on Wednesday, as miners retreated and banking shares suffered after Lehman Brothers posted a quarterly loss and announced steps to restructure the company.

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Banks and miners drag down shares

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