BP would be blocked from winning future drilling permits in the US because of its safety record under energy legislation passed by the House of Representatives
Cabinet ministers are to tap up Richard Lambert, the outgoing head of the CBI employers’ group, to become UK high commissioner to India as part of a drive to appoint captains of industry to important diplomatic posts
The fortunes of Britain’s biggest banks have undergone a startling turnround, with profit growth at state-backed Lloyds set to eclipse that of the former industry star Barclays when first-half results are disclosed next week
Asia’s wealthiest man is to buy the UK electricity distribution business of France’s EDF for £5.8bn in what is set to be the biggest European investment by Hong Kong companies on record
With the insipid economic recovery and the persistently high unemployment rate chief among voters’ concerns, the US president sought to use Detroit as an example of how his government had saved jobs
The world’s first treatment based on human embryonic stem cells is set to begin a clinical trial within the next two months, in patients with acute spinal cord injury
Bob Dudley, BP’s incoming chief executive, will fly to Moscow to meet shareholders in its Russian joint venture TNK-BP, a visit that will underscore a thawing in relations between the two companies
A senior Beijing official’s reference to China as the ‘world’s second-largest economy’ has sparked excited speculation that Asia’s new powerhouse may have already reached a long-looming milestone by surpassing Japan
Rise partly reflects VAT increases in southern European countries hit by the crisis over public finances, with price pressures expected to remain moderate in the months ahead
US growth slowed to an annualised rate of 2.4 per cent in the second quarter but robust business demand suggested that the economy would avoid a feared “double dip” that could drag the world back into recession
The data promise to bolster the government’s economic message ahead of the September 19 election, with recent polls showing the four-party Alliance edging ahead of the Red-Green opposition