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Ben Perry

UK puts army on standby as fuel pumps run dry

Desperate motorists queued up at fuel pumps across Britain, draining tanks, fraying tempers and prompting calls for the government to use emergency powers to give priority access to healthcare and other essential workers

Thomas Cook folds, sparking worldwide repatriation of tourists

As well as grounding its planes, Thomas Cook has been forced to shut travel agencies, leaving the group's 22,000 global employees out of a job

Britain eyes higher growth in Brexit year

​Britain has ramped up its economic growth outlook for next year, when the country will exit the European Union

Markets brace for eurozone turmoil in 2012

Shares and the euro will likely face more turmoil in 2012, after a year in which markets and the currency slumped on fears over the debt crisis.

Opec meets to decide on oil output targets

Opec is due to hold a meeting to decide on oil production levels, with markets expecting it to keep it's target of 24.84 million barrels per day.

BP oil spill costs surge to $40-billion

British energy giant BP announced a return to profit on Tuesday but revealed new shock estimates for the cost of its Gulf of Mexico oil spill.

Opec freezes oil output, says supplies are sufficient

The Organisation of the Petroleum Exporting Countries (Opec) left unchanged its oil-production ceiling on Friday, snubbing United States demands for an increase as the cartel focuses on supporting prices that have fallen 10% since the start of the year. Explaining its decision, Opec said that stockpiles of crude were likely to increase in the first half of 2008.

World stocks surge

Global share prices rocketed on Thursday, though fears of an economic slowdown lingered as Société Générale revealed a massive €4,9-billion fraud-related loss it attributed to one of its traders. Europe's leading share indices surged in morning deals, with gains of between 4% and more than 5% after a recovery on the Japanese market.

Gold shines at new record high near $868

Gold struck a new all-time peak of almost $868 dollars on Thursday as the precious metal benefited from its safe-haven status amid record high oil, a struggling dollar and Pakistan tensions, analysts said. The price of gold reached a historic $867,90 an ounce on the London Bullion Market. It later slipped slightly to stand at $866,90.

UK bank hit by credit problems

Shares in British bank Northern Rock plunged by a quarter on Friday as clients rushed to withdraw their savings following an emergency bail-out of the lender by the Bank of England. The central bank came to the rescue of Britain's fifth-biggest home-loan provider, which is facing severe difficulties raising cash on money markets amid the ongoing global credit squeeze.

Global stocks rally, but turmoil not over

World stock markets roared higher on Monday after last week's slump, but analysts warned of further turmoil for share prices owing to lingering concerns about borrowers' failure to repay United States home loans. The London and Paris main indices jumped by about 1% in morning trade after Tokyo's market closed up 3%.

Airbus to reveal new A350 plane design

European group Airbus will on Monday unveil new design plans for its troubled long-haul A350 plane, Thomas Enders, co-chief executive of Airbus's parent company EADS, told reporters. The cost of developing the mid-sized jet could meanwhile more than double to about $10-billion, added the German boss.

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