Economy

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Site: BBC News | Business | World Edition

22/8/2008, 03:59

Lone Star Funds to take over IKB.

US private equity firm Lone Star is to buy German lender IKB Deutsche Industriebank, its biggest shareholder says.

German tyre firm succumbs to bid.

Tyre maker Continental agrees that suitor Schaeffler can buy up to half the company after it ups its offer.

China bank sees top 2008 profits.

China's largest bank reports a 57% jump in first half profits and says its earnings have outstripped any of its rivals.

Supply concerns send oil surging.

Oil prices rise above $122 a barrel on the back of geopolitical worries after the US signs a missile shield deal with Poland.

Wholesale gas prices up on leak.

Wholesale gas prices in the UK jump by 15% after a gas pipeline leak in the North Sea.

Japan surplus down as US weakens.

Japan's trade surplus shrank by more than expected in July, as a result of weaker US demand and an increase in oil imports.

Fannie Mae and Freddie Mac slump.

Shares in US mortgage finance giants Fannie Mae and Freddie Mac plunge again amid new talk of a government bail-out.

Cemex challenges nationalisation.

Cement giant Cemex is to seek arbitration at the World Bank after Venezuela's government seizes its local subsidiary.

German law to target non-EU bids.

Germany prepares legislation aimed at blocking sovereign wealth funds from taking big stakes in local firms.

Russian denies buying world's most expensive house.

Russia's fifth richest man denies reports that he has bought the world's most expensive home.

'Pray at the pump' pilgrims claim credit for petrol price fall.

A prayer group in Washington DC is claiming the credit for a sharp drop in the US price of petrol.

Guidelines for financial journalists.

no summary/geen samenvatting.

Quiet revolution.

Can Brazil's farms help to feed the world?

Swell time.

English resort tries to catch wave power

Hong Kong tycoon.

Richard Li steps out of his father's shadow

Black gold.

The impact of a century of oil production on Iran

Turbulence ahead.

BA is facing a rough ride over its American ambitions

Fired up.

Chinese computer maker Lenovo eyes Olympic glory

Surprise gain in UK retail sales.

Retail sales defy grim forecasts to rise 0.8% in July, according to the Office for National Statistics.

Retail group in government plea.

The British Retail Consortium writes a letter to the government asking for help to support struggling High Street stores.

Persimmon posts sharp profit fall.

UK housebuilder Persimmon reports a sharp drop in half-year profits as it struggles to deal with the housing market downturn.

Two energy firms to raise prices.

E.On and Scottish and Southern Energy are to raise gas and electricity prices by up to 29%, blaming higher wholesale costs.

African bank set for share issue.

African regional banking group Ecobank plans the continent's biggest rights issue, to raise $2.5bn to fund its expansion.

Zimbabwe inflation rockets higher.

Zimbabwe's rate of inflation surges above 11,250,000% as an economic crisis continues to grip the country.

Arcelor buys into Brazil iron ore.

Arcelor Mittal, the world's largest steelmaker, buys Lonmin's Brazilian iron ore assets for $810m.

Apple admits iPod Nano 'overheat'.

Apple says that a battery fault meant that a small number of its first generation iPod Nanos could overheat.

Olympic thirst boosts China beer.

Chinese brewer Tsingtao sees half-year profits up 42% from publicity gained by sponsoring the 2008 Beijing Olympics.

China shares up from 20-month low.

China's main share index rebounds from a 20-month low on talk that Beijing will introduce an economic rescue plan.

BAE in £2bn MoD ammunition deal.

BAE Systems signs a 15-year deal with the Ministry of Defence to supply ammunition for UK armed forces.

BAA 'should sell three airports'.

The Competition Commission says BAA may have to sell three of its seven UK airports - two in London and one in Scotland.

UK bank gets Egypt investment.

Panmure Gordon, the British stockbroker and investment bank, announces a large Egyptian bank will buy a share in its business.

Oil prices rise as stocks decline.

Oil prices rise slightly after recent falls, but traders warn slowing demand is likely to cap the rise.

India airport strike hits flights.

Many domestic airline flights are cancelled in India after airport workers go on strike in protest against the government's economic policies.

Pakistan rupee falls to new low.

Pakistan's currency hits a record low against the dollar on fears that President Pervez Musharraf might resign soon.

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