IBT Staff Reporter

The long, hot summer was not without cost this year as overheated Britons spent an estimated 5 billion pounds trying to keep cool

Russian oil firm Sibir Energy may hand half of a Siberian joint venture with Royal Dutch/Shell to Gazprom's oil arm in return for control of Moscow's oil refinery

Hewlett Packard Co.'s Chief Executive Mark Hurd had approved a sting operation on a reporter to investigate boardroom media leaks

British–Russian oil firm TNK BP, half owned by BP, said on Thursday that there was no sign of any threat to its licence for the Kovykta gas field

Takeover target Gondola Holdings said more restaurant openings were on the menu on Thursday after it posted a 4.1 percent rise in annual like for like sales.

Laura Ashley , the British retailer famed for its floral fabrics, said on Thursday it returned to profit and enjoyed strong sales in the first half of the year thanks to further cost cuts and strong demand.

The U.S. Department of Homeland Security has awarded a multi-billion dollar contract to Boeing for border security work, the chairman of the Senate Homeland Security Committee said on Wednesday.

Publisher Daily Mail & General Trust said on Thursday advertising markets were proving patchy for its national titles but was enjoying good growth for revenue from its business and digital operations.

Two U.S. software firms are asking the European Commission to take action against Microsoft's new Vista operating system

Almost a decade after being battered by the Asian financial crisis, emerging market investors are getting a worrying reminder about political risk from the streets of Budapest to the barracks of Bangkok.

Germany drugmaker Merck KGaA unveiled a surprise 16.6-billion-Swiss franc ($13.3 billion) deal on Thursday to buy Swiss biotech firm Serono, creating a new force in European pharmaceuticals.

Boston airport authorities cannot stop Continental Airlines from offering wireless Internet service in its frequent flier lounge under a proposed Federal Communications Commission ruling

The equity release market could treble in the next five years, according to the largest player in the sector.

FTSE 100 opened flat on Thursday as further weakness in crude prices hit oil heavyweights, but strong earnings boosted supermarket group Morrison .

Independent oil explorer Premier Oil reported a 64 percent rise in first half net profits on Thursday, as higher oil and gas prices more than made up for a fall in production.

German drugmaker Merck on Thursday unveiled a surprise 16.6 billion Swiss franc (7 billion pound) deal to buy Swiss biotech firm Serono

Wm Morrison Supermarkets posted a return to profit in its first half and said on Thursday the second half had started well, sending its shares up 4.3 percent to a 28 month high.

Japan's Sony Corp. will establish a new manufacturing site for LCD TV screens in Nitra, Slovakia, the company announced on Wednesday.

After the Russian government announced its withdrawal of environmental approval for the Sakhalin-2 liquefied natural gas (LNG) project on Sep. 18, Alexander Losyukov, Russia's ambassador to Tokyo, said on Wednesday that the construction continues as stated on their contract.

Microsoft's Xbox 360 gaming console will get a line of budget-priced software, the company announced today, following the precedent established by Sony's Playstation, as well as the previous Xbox console.

Earnings warnings are outpacing brighter outlooks at the end of this third-quarter at nearly the same rate they were last year when Hurricane Katrina jolted the U.S. Gulf Coast.

BP today announced that it had entered the final planning stage of a $3 billion investment in Canadian heavy crude oil processing at its Whiting Refinery in northwest Indiana.

Norwich Union has announced that it will be withdrawing its Immediate Care Plan to new business. The decision will take effect on the 20th November 2006.

The Lufthansa Supervisory Board today approved an order for 35 new aircraft from Airbus.

Dell and Symantec are teaming up to deliver protection for Microsoft Exchange-based e-mail systems, the companies said on Wednesday.

Market research firm, iSupply announced results of a tear-down of the new iPod - a processes where the firm takes apart the new product to discover what components and systems Apple used. The firm found that Apple has lowered costs without sacrificing functionality.

Thailand's military coup leaders faced international calls for a swift return to democracy on Wednesday, after vowing to choose a new prime minister within two weeks to replace ousted Thaksin Shinawatra.

President Mobutu Sese Seko was said to have sipped pink champagne daily, hired Concorde to fly his family to New York to shop and bought numerous friends in high places, much of it with the help of foreign aid.

Lockheed Martin Corp.'s $276.5 billion F-35 Joint Strike Fighter program, the costliest U.S. arms acquisition project, may be set back by moves in Congress to slow initial production, a top company official said on Wednesday.