Overview: Record oil dents sentiment
Oil prices broke into fresh record territory, while concerns over slowing growth and a worsening of credit conditions drove investors to seek havens from risk this week
Wall Street falls as oil hits new highs
US stocks were lower in a week during which continuing concerns about oil prices, inflation and credit markets outweighed strong sales figures from several retailers and encouraging economic data
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
Euro bounces back from low
The euro dropped to a two-month low against the dollar this week as a growing feeling that the single currency might have peaked gripped the market.
Weak financials drag on FTSE
London equities fell on Friday, as a fresh record high crude price and poor results from US insurer AIG unsettled investors
Heavyweights tip Europe lower
European equity markets fell in a broad-based retreat, led by heavyweight financial, pharmaceutical and energy and mining stocks
Asian stocks sink on subprime concerns
Massive losses at US insurer AIG have sparked worries there may be more credit trouble ahead
Bankruptcies and defaults gather pace
The number of companies defaulting on their junk-rated debt and filing for bankruptcy in North America is running at its fastest pace in five years amid the slowing economy and contraction in credit markets
Call options bet on oil hitting $200
The number of financial bets on crude oil prices hitting $200 before the end of this year have spiked almost 40 per cent since the start of May, a further sign of growing concern that oil prices will continue to rise sharply in the near term
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
BBA addresses Libor criticisms
The British Bankers Association will submit a report about the future of the Libor benchmark to its key advisory committee later this month, as part of a closely watched review into how this benchmark rate is calculated
Corn shoots higher on US planting gloom
US corn prices hit record levels amid expectations that an update from the US Department of Agriculture would include downward revisions to production forecasts this year as planting in the Midwest has been hampered by bad weather
Financial stocks weigh on Asian markets
Worries about further subprime losses in the US emerged and traders reacted to a fall on Wall Street overnight, pressing the MSCI Asia Pacific Index down 1.1 per cent
Derivatives trade expands amid volatility
Deutsche Börse and NYSE Euronext have revealed in their quarterly earnings that the volume in derivatives trading shot up faster than in the cash equities business
Fears for growth sparks Chinese sell-off
The Shanghai composite index tumbled 4.1% to 3,579.15 points as Chinese stocks suffered a steep sell-off due to concerns about inflation and economic growth