Indonesia, the only OPEC member in Southeast Asia, will pull out of the group after aging fields and declining production force the region's biggest economy to boost imports as crude oil prices reached records.
Qantas Airways Ltd, Australia's biggest carrier, will cut domestic routes and reduce the size of its fleet because of surging jet-fuel costs.
Alitalia SpA, Italy's state- controlled airline, said it needs capital "in a very short time" after talks to merge with Air France-KLM Group failed and it reported a fifth straight annual loss.
Crude oil fell to a one-week low on concern record fuel prices will cut consumption at the height of the US driving season.
European stocks and US index futures rose as a two-day drop in oil prices improved the profit outlook for airlines and retailers. Shares in Asia fell.
Enjoy your next steak, because prices from Shanghai to San Francisco are only going up.
Rice futures tumbled by their daily limit for the second session as producers eased export bans, alleviating concerns that global supplies will fail to meet demand.
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