Europe

Major gas field given green light

Production on the largest new oil and gas field to have been discovered in the North Sea for a decade has been approved by the UK Oil & Gas Authority. The Culzean field is expected…


UK tax breaks spur £3bn North Sea project

©Bloomberg Danish energy group Maersk is to lead a £3bn project to develop the largest gasfield discovered in the UK North Sea for a decade, the first big investment to benefit from tax breaks announced…


Malaysia’s political crisis in 5 numbers

©AFP Mahathir Mohamad shakes hands with a supporter at the Bersih protest on Saturday A marathon 34-hour rally in Malaysia at the weekend drew tens — perhaps even hundreds — of thousands to the streets…


China to form top aluminium producer

Beijing is lining up a shuffle of state assets that will create the world’s biggest aluminium producer and allow a third nuclear group to challenge the country’s duopoly, say people in the industry familiar with…


Chinese shares lead Asia bourses lower

©Bloomberg Monday 03:20 BST. Chinese shares took a dive, weighing on regional benchmarks, following reports that Beijing has scrapped large-scale share purchases as a method of propping up markets. The Shanghai Composite fell 3 per…


China rings alarm for smartphone makers

©Bloomberg This summer’s slump in China’s stock market has come at an awkward moment for smartphone companies already facing doubts about their prospects in the country. Smartphone sales fell 4 per cent in the second…


EU calls crisis talks on migration

Image caption The discovery of 71 bodies in an abandoned lorry in Austria has heaped pressure on EU governments The European Union has called emergency talks on tackling the bloc’s escalating migration crisis. The EU…


Ferries disrupted by Calais blockade

Passengers are facing Bank Holiday delays at the port of Calais following a fresh protest by former workers of a dissolved ferry company. Protesters – believed to be from former operator MyFerryLink – are reported…


Investment banks outshine parent groups

©Bloomberg Investment banking divisions at the world’s largest financial institutions are now reporting greater profitability than their parent groups, despite rising capital requirements and other regulations that have constrained their activity. “That’s broadly speaking the…


Beijing scraps large-scale stock buying

©AFP China’s government has decided to abandon attempts to boost the stock market through large-scale share purchases, and will instead intensify efforts to find and punish those suspected of “destabilising the market”, according to senior…