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Oil prices hit 11-year low as global supply balloons

NEW YORK Brent oil cratered to its lowest price in more than 11 years on Monday and remained locked within a narrow range, burdened by warmer-than-normal temperatures and a market lacking clear signals. | Video

Recent Business News

Serious Fraud Office to charge 11 over Euribor-rigging

LONDON The Serious Fraud Office said on Monday it would next month charge 11 individuals accused of rigging the Euribor interest benchmark with conspiracy to defraud.

4:49pm GMT

Oil at 11-year low but Wall St rebounds from week-ago declines

NEW YORK A persisting world oil glut dragged Brent crude prices down on Monday to their weakest in more than 11 years and U.S. crude to six-year lows, but Wall Street gained broadly after big declines a week earlier.

FXpert 4:46pm GMT

Independent group says new Glaxo asthma drug far too expensive

An independent nonprofit organisation that evaluates clinical and cost effectiveness of new medicines found the price of GlaxoSmithKline's new drug for severe asthma should be as much as 76 percent lower to justify its value, according to the group's latest draft report.

5:45pm GMT

Airbus signs agreement for sale of satellite communication unit

PARIS Airbus Group said on Monday it had signed a share purchase agreement with French private equity firm Apax Partners for the takeover of all of its commercial satellite communication business.

5:32pm GMT

Caterpillar hit with $73.6 million trade secrets verdict in U.S.

Caterpillar Inc was ordered to pay $73.6 million (£49.4 million) in damages in a lawsuit by a former supplier that accused the equipment manufacturer of misappropriating its trade secrets.

5:13pm GMT
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