According to the news I saw earlier, oil prices have risen above $72 a barrel following the meeting of the producers’ cartel Opec last Wednesday. Opec decided not to change the amount of oil being produced by its members. The committee said that “there are signs that economic recovery is underway”, but added there was [...]

According to the news earlier, US President Barack Obama’s massive stimulus package has created up to 1.1m jobs. The $787bn package, known as the American Recovery and Reinvestment Act, has also significantly boosted economic activity. The report on the act said it boosted US GDP by 2-3% between April and June. The strengthening economy means [...]

News said earlier, mortgage lending continues to rise according to the latest figures from the Council of Mortgage Lenders (CML). Gross lending in July stood at £16bn, 26% higher than in June, though still more than a third lower than in July last year. Mortgage lending, house sales and property prices have all picked up [...]

News said that between April and June, McDonald’s has reported a fall in profits, as the strong dollar hit overseas revenue. Net profit at the US fast-food giant, the world’s largest hamburger chain, was $1.1bn, down 8% on the $1.2bn recorded a year ago. Taking out the effect of the strong dollar, however, the chain [...]

According to the news this morning, last Monday six country officials gathered in Turkey and signed a deal to build a U.S.-backed pipeline, aimed at breaking Russia’s near-monopoly on natural gas supplies to Europe. The proposed Nabucco pipeline would run from Turkey’s eastern border, through Bulgaria, Romania and Hungary, to a key gas terminal in [...]