Oil price breaks through $126 a barrel
Crude surged to a new record high as concerns about supplies to the US mounted after Opec blamed a weak dollar for the recent spike in prices rather than a lack of production
Citigroup considers $400bn asset sales
Citigroup confirmed that at least $400bn in non-core assets could be sold as part of plans to reduce costs and restore profit growth to double-digit rates
Kazakhmys spurns £7.05bn ENRC proposal
The London-listed, Kazakhstan-based copper miner rejected an indicative offer from compatriot ENRC that was pitched below Kazakhmys' current share price
Hizbollah seizes large parts of Beirut
Gunmen loyal to the Shia militant group Hizbollah seized control of several Beirut neighbourhoods and shut down a pro-government newspaper and television station
Burma closes doors to foreign aid workers
After a week of ambivalence towards the offer of international aid, Burma has made it clear it wants to handle the cyclone crisis on its own
Dresdner loss drags on Allianz
Dresdner Bank stayed in the red in the first quarter after writing down €845m on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two
IMF warns on global inflation
Global inflation has re-emerged as a major threat to the world economy, the International Monetary Fund said in a stark warning that marked an abrupt change of tone from its emphasis on the risks to growth
China eyes overseas land in food push
Chinese companies will be encouraged to buy farmland abroad, particularly in Africa and South America, to help guarantee food security under a plan being considered by Beijing
EDF adds to its UK nuclear options
EDF, Europe's biggest power company, has been buying land around nuclear sites in England and Wales
Political crisis hurts Turkey's image
The country's international reputation is suffering because of a domestic debate on secularism that has shaken confidence in the financial markets, its president told the FT in an interview
Sovereign Bancorp to raise fresh capital
A deal to raise up to $2bn from a consortium led by Spain's Grupo Santander would make the second-largest US savings and loan the latest in a line of banks seeking to raise capital to offset losses on loans
AIG plunges to record loss
The crisis at American International Group deepened after $15bn in credit-related writedowns plunged the US insurer into a record quarterly loss