Oil falls most for a week
CRUDE oil fell the most in a week as the euro tumbled against the dollar on speculation that Europe's debt crisis may worsen.
Oil dropped as much as 2.6pc after German factory orders unexpectedly declined in July, causing the euro to weaken the most since August 11. Equities declined on concern the European situation will delay the global recovery.
BA open to new merger talks
BRITISH Airways would be keen on re-opening merger talks with Qantas Airways if Australia's top carrier was interested in reviving a deal that collapsed in 2008, according to BA's chief executive. "We have done the work in our discussions with Qantas two years ago and we know there is a strong case there. It is definitely something that would be interesting in the future if Qantas were like-minded," Willie Walsh told 'The Australian Financial Review'.
Distillers set up new global office
DISTILLERS William Grant and Sons is to set up its new global marketing office in Dublin. The office will employ 17 people to manage the entire global marketing operations for William Grant and Sons' non-Scotch brands, including Tullamore Dew Irish whiskey, and will work alongside the company's existing marketing office in Richmond, London. A key focus of the marketing activities will centre on the development of the Tullamore Dew brand.
Connaught shares are suspended
CONNAUGHT was suspended from London trading yesterday after the UK public-housing maintenance company said it was "increasingly uncertain" of resolving its funding problems. The stock has dropped 95pc since the company said in June that earnings would be hurt as spending on social housing contracts was deferred. Connaught is reported to be "on the brink" of going into administration.
Green King sales increase 4.4pc
BREWER and pub operator Greene King, whose performance is seen as a bellwether for C&C in the UK, said yesterday that like-for-like sales in its retail business rose 4.4pc in the first 18 weeks of its financial year to September 15.