UK to formally propose time-limited extension of current customs union this week

Westminster will propose to Brussels a time-limited extension of the current tarriff arrangement with the European Union this week, Bloomberg reported citing two persons familiar with the government's plans.

Oil prices dip as US production climbs to record rate

Oil prices fell on Monday after US oil production achieved record highs and organization of the petroleum exporting countries (OPEC) members considered bolstering their supplies.

IATA predicts ninth consecutive year of solid financial returns for airlines

The International Air Transport Association (IATA) cut its forecast for airlines' profits on the back of rising labour and interest rate costs, but predicted a ninth consecutive year of solid financial returns for the industry.

Weak imports help buoy Greek GDP growth in the first quarter of 2018

Greece's troubled economy expanded roughly twice as quickly as economists had expected during the first three months of the year, despite a sharp drop in investment.

Investor sentiment towards euro area collapses in June, Sentix says

Doubts around the new government in Rome have led investors to downgrade their expectations for euro area growth back to the levels last seen in August 2012, when European Central Bank chief Mario Draghi famously promised to do "whatever it takes" to stem the rout in euro area periphery debt markets.

Sentix June

Euro area producer prices slip in April, as energy costs ebb

Factory gate prices in the single currency bloc fell back in April as energy cost pressures continued to ebb.

Nostra Terra reduces loss as revenues and production rocket

Nostra Terra saw its losses narrow across 2017 as its revenues and production increased, according to the company’s 2017 financial results released on Monday.

China warns 'all trade deals are off' if US raises tariffs

China has threatened to withdraw from its previously agreed commitments with Washington to cut its bilateral trade deficit on goods with the US if President Donald Trump moves ahead with tariffs on $50bn-worth of Chinese products.

Union Jack Oil's shares jump after 12.5% acquisition in Wressle discovery

Shares in onshore hydrocarbon production, development and exploration company Union Jack Oil jumped on Monday after the company said it had acquired a further 12. 5% in the PEDL180 and PEDL182 licences in North Lincolnshire.