Crude oil hits a three-week high in New York trading
Crude oil rose to its highest in three weeks in New York after Royal Dutch/Shell Group shut two gasoline-making units at a refinery in Texas, heightening concern about auto fuel supply during the United States holiday season.

GM, Ford say US sales fell last month
General Motors Corp and Ford Motor Co, the largest automakers in the United States, were expected to report late yesterday that May sales fell from a year ago and their US market share slump continued amid gains for Toyota Motor Corp and Nissan Motor Co.

Japanese joblessness at six-year low
Japan's household spending rose in April and unemployment was the lowest in more than six years, bolstering a recovery in the world's second-largest economy.

T&F agrees deal on IIR Holdings
T&F Informa Plc, publisher of the Lloyd's List shipping newspaper and organizer of the annual 3GSM conference, agreed to buy IIR Holdings Ltd for US$1.4 billion in cash to expand its events organizing and training business.

Manufacturing likely declined in euro area countries
Manufacturing in the dozen euro nations may have contracted for a second month in May, adding to evidence oil prices around US$50 a barrel and unemployment near a five-year high are holding back growth, a survey of economists showed.

Factory index probably down
Growth at US manufacturers probably slowed for a sixth straight month in May, as excess inventories led factories to hold down production, economists have forecast an industry report to show today.