Oil edges back toward $100 mark

Crude oil traded yesterday near Wednesday's record of $100 a barrel as OPEC officials said the group can't curb prices and the United States refused to release emergency supplies.

More price rises in the pipeline

With oil having briefly touched the once unfathomable price of $100 a barrel, consumers can expect the cost of filling their gas tanks, heating their homes - in fact, the price of almost everything - to also keep rising.

Gold, platinum reach record levels

Gold and platinum rose to records for a second day and crude oil traded near $100 a barrel as the dollar's slump enhanced the appeal of raw materials as an inflation hedge.

Biz People

Gas firm 'near bankruptcy'

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Business International

Oil edges toward $97 a barrel on Nigerian violence

Oil climbed toward $97 a barrel yesterday as renewed violence in oil exporter Nigeria and expectations of further declines in US crude stocks revived worries of tightening supplies.

Dollar's dip ups chances of interest rate cut

The dollar fell against the euro, extending last year's 10 percent decline, on concern evidence of a US manufacturing slowdown will give the Federal Reserve more reason to lower interest rates.

Reliance IPO to be India's biggest

India's Reliance Power Ltd is set to launch an initial public offering to raise up to $2.97 billion in the country's biggest IPO, three investment banking sources close to the deal said yesterday.

Biz people

Ernst to get $2.6m severance

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