Tuesday, May 20, 2008

BBC WORLD BUSINESS NEWS

Russia police raid BP Moscow base
Russian security services search the Moscow HQ of oil giant BP - the second time the firm has been targeted.
Supply fears push oil beyond $129 Firms scoop £4bn carrier contract
Oil prices surge past $129 a barrel as concerns about supply grow on Opec's refusal to increase output. The Ministry of Defence is set to sign a £4bn deal to build two aircraft carriers with BAE Systems and VT Group.
Fed loans $75bn to finance firms Japan keeps interest rates level
The US central bank auctions $75bn in loans to finance firms to boost their access to credit. The Bank of Japan votes unanimously to keep interest rates unchanged at 0.5%, as widely expected.
Energy costs hit German factories EU shake-up on farming subsidies
Rising energy costs meant German producer prices were 5.2% higher in April than a year ago, figures show. The EU announces plans to reform its hugely expensive rural payments system, the Common Agricultural Policy.
Food price rises 'to hit UK hard' Energy firms 'restart near quake'
The UK is "more exposed" to food price rises than its peers, adding to recessionary fears, a report suggests. Energy supplies in the Chinese region hit by the earthquake are returning to normal, a key oil firm says.
Agency staff to get equal rights Taylor Wimpey to close 13 offices
Agency workers will be given the same employment rights as permanent staff after 12 weeks under new plans. Building firm Taylor Wimpey plans to close 13 offices in the UK, a move expected to cause 600 redundancies.
Platinum prices 'set to rise 50%' Bharti African talks 'continue'
The price of platinum could increase by 50% in 2008 compared with last year, a poll of analysts says. Indian mobile firm Bharti Telecom is in talks about buying South Africa's MTN, reports say.
Argentine farmers call off strike Battle for fryer company heats up
Farm leaders in Argentina agree to suspend nationwide stoppages and protests over export taxes on food exports. Manitowoc increases its offer for UK kitchen equipment firm Enodis, which supplies machines to McDonald's.
China quake 'costs firms $9.5bn' Chinese whispers fuel BHP shares
The recent earthquake has cost Chinese companies $9.5bn, the country's government says. Shares in the world's largest miner BHP Billiton rise on speculation about investment from China.
Imperial details £4.9bn cash call M&S sees profits increase to £1bn
Imperial Tobacco says it wants to raise £4.9bn through a rights issue to pay for its recent acquisition of Altadis. Marks and Spencer says annual profits rose 4.3% to £1bn but is cautious about the coming year's prospects.
Oil price resumes its record run Oil price 'may hit $200 a barrel'
The oil price rises to a record high, picking up from last week when it set new records every day. The price of oil could soar to $200 a barrel in as little as six months, a report warns as crude passes $123.
Battle over new Bangalore airport Pakistan battles power shortages
A row breaks out over Bangalore's new international airport, as it gets ready to open on 23 May. Pakistan is switching to daylight saving next month to help reduce the effects of power shortages.

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