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Archive for May 27th, 2008BP backs plan to reverse Panama crude oil pipelinePosted by UK Economy News
In UK financial news
27May 08 Oil major BP announced on Tuesday it would back a project by privately held NIC Holding Group to reverse and reactivate a mothballed crude oil pipeline in Panama to make Atlantic basin crudes more competitive with other imports on the U.S. West Coast.
Read full story Sarkozy calls for fuel tax cut as protests spread across EuropePosted by UK Economy News
In UK financial news
27May 08 French President Nicolas Sarkozy on Tuesday called for a Europe-wide cut in oil taxes to help consumers, as fuel price strikes by fishermen and truck drivers spread across the continent.
Read full story Comments Off Shareholders heckle SocGen chiefs over losses at AGMPosted by UK Economy News
In UK financial news
27May 08 Shareholders heckled and jeered management of French bank Societe Generale at its annual general meeting on Tuesday, taking them to task for the loss of billions blamed on a rogue trader.
Read full story Comments Off US new home sales rose unexpectedly in AprilPosted by UK Economy News
In UK financial news
27May 08 Sales of new homes across the United States rose an unexpected 3.3 percent in April from the prior month, to a seasonally adjusted annual pace of 526,000 homes, a government report showed Tuesday.
Read full story Comments Off Germany teases EU Commission with new draft VW lawPosted by UK Economy News
In UK financial news
27May 08 Germany has decided to back a new bill that would retain state influence over Europe's biggest car maker, Volkswagen, despite staunch opposition from the European Commission.
Read full story Comments Off Oil falls below $130 as dollar strengthensPosted by UK Economy News
In UK financial news
27May 08 Oil fell more that $2 on Tuesday, pulled down by the stronger U.S. dollar and concerns moves to cut Asian fuel subsidies could hurt demand growth.
Read full story Comments Off Vodafone boss Sarin quits on a high notePosted by UK Economy News
In UK financial news
27May 08 Mobile phone giant Vodafone announced Tuesday the surprise exit of chief executive Arun Sarin, who will quit on a high note after five years in charge as the group returned to profit.
Read full story Comments Off EU urges concessions from emerging nations in WTO talksPosted by UK Economy News
In UK financial news
27May 08 EU Trade Commissioner Peter Mandelson urged developing countries on Tuesday to yield ground in crunch World Trade Organisation negotiations.
Read full story Comments Off EADS eyes production start in India: chairmanPosted by UK Economy News
In UK financial news
27May 08 EADS, the parent company of Franco-German aircraft maker Airbus, may start producing in India in order to be nearer customers there, chairman Louis Gallois said on Tuesday.
Read full story Comments Off Oil prices sink from record heightsPosted by UK Economy News
In UK financial news
27May 08 Oil prices tumbled further from recent record peaks on Tuesday as traders took profits amid growing fears about energy demand from key consumer the United States, analysts said.
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