07.05.08

US commercial bankruptcy filings jumped 56% in April from a year earlier, court records show

Business bankruptcy filings rose to 5,173, while total bankruptcy filings, including those by individuals, were up by 37% to 93,096. The figures were compiled from US court records by data provider AACER.

07.05.08

Clashes as strike grips Lebanon

Explosions and gunfire rang out across the Lebanese capital Beirut as opposition supporters held a one-day general strike calling for higher pay. Strikers set up barricades of burning tyres on key routes to the port, airport and Beirut's commercial centre.

07.05.08

FSA targets insider trading deals

The Financial Service Authority (FSA) has more than doubled the size of its team devoted to targeting illegal practices such as insider trading. The criminal prosecutor team now includes 30 people, up from 12 less than a year ago, the FSA said.

07.05.08

UK services sector 'hit by costs'

The UK services sector grew at its slowest rate in nearly five years in April as costs rose, data suggests.An index of service sector activity from the Chartered Institute for Purchasing and Supply fell to 50.4 in April, from 52.1 in March.

07.05.08

Indonesia mulls Opec withdrawal

Opec member Indonesia is considering leaving the oil cartel to concentrate on domestic production, the country's president has said. Levels of oil production from its ageing wells are declining, making the country a net importer of oil when crude prices are at record levels.

07.05.08

UK interest rate 'set to be held'

UK interest rates are expected to be held at 5%, most analysts predict, despite a flurry of downbeat data adding to worries about the economy. The Bank of England's Monetary Policy Committee (MPC) will make its decision on Thursday after a two-day meeting.