Oil rises to five-week high in NY

Crude oil rose to a five-week high in New York on speculation US gasoline stockpiles had fallen as refiners reduced production.

Kazakhstan calls for shared control of field

Kazakhstan called on Eni SpA and partners to cede some control over the Kashagan field after failing to meet cost targets and production deadlines at the biggest oil discovery in more than three decades.

IN BRIEF (Page 16)

Business International

Shipping demand drives up fuel oil

Fuel oil for the first time in two years is rising faster than gasoline, jet fuel and diesel, increasing the cost of ocean freight and electricity.

Revival in US takeovers after brush with death

Speculation about higher takeover offers for US companies is beginning to recover from a near-death experience in August.

Sony Ericsson CEO Flint to quit

Sony Ericsson Mobile Communications Ltd, the mobile-phone joint venture of Sony Corp and Ericsson AB, said Chief Executive Officer Miles Flint will step down on November 1 and be succeeded by Hideki Komiyama.

Economy 'on fire' Down Under

Australia's economy sped ahead last quarter as a boom in business and government spending outstripped all expectations, reviving speculation interest rate could have to rise yet further to curb inflation.

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Business International

Trichet forced into caution on rates

European Central Bank President Jean-Claude Trichet has made a habit out of telling investors what to expect on interest rates. Now markets are dictating the terms.

Wage drop hinders spending hike

Japan's wages fell at the fastest pace in three years, hampering an expansion in consumer spending.