oil

Drugs giant Shire Pharmaeuticals helped the FTSE 100 index to cross the psychological 4,600 barrier again this afternoon, after announcing it has distribution approval in the US.

Shares on the FTSE 100 index suffered a setback today largely because the continued pressure on oil prices is beginning to take its toll on firms such as British Airways.

Smaller exploration and productionoil companies are right for the investor now, while alternative energy sources are a punt for the future, a roundtable organised by the AITC has heard.

Fund managers and economists say oil prices near the $50 per barrel mark are the result of short-term views that ignore strong supplies of "black gold".

ZURICH FINANCIAL SERVICES may drop the brand names of its UK life divisions, says the Times , once it merges Allied Dunbar and Eagle Star into one legal entity later this year.

BANCO SANTANDER would have to lay off 8,000 Abbey employees to achieve its £300m synergy targets, reports this morning's Daily Telegraph.

The volatility and uncertainty surrounding future oil prices may cause the Monetary Policy Committee to stay its hand in raising interest rates for a second month in a row, says BDO Stoy Hayward.