A round-up of today's other stories in brief.
Crude oil rises above $74 a barrel
Oil rose above $74 a barrel yesterday after a larger than expected drop in US crude supplies and fears that a tropical storm in the Atlantic could disrupt output in the world's largest energy consumer.
London Brent crude climbed $1.61 to $72.12 a barrel. Domestic gasoline stocks fell a larger than expected 1.1 million barrels, while distillates rose 200,000 barrels.
A tropical depression in the Gulf of Mexico strengthened into tropical storm Erin, threatening oil and gas facilities off the south Texas coast, the US National Hurricane Centre said. - (Reuters)
Life insurance giants not to merge
Two of Britain's best-known mutual life insurers have said they are no longer in talks over a potential merger.
Liverpool-based Royal Liver, which was founded in 1850, said in April that it had received a proposal from Royal London, Britain's largest mutual life and pensions firm.
Royal London's approach to Liver would have created a group with nearly five million members and about £35 billion in funds under management. - (PA)
Topshop rejects sweatshop claims
Billionaire businessman Sir Philip Green has rejected charges made by a British newspaper that the Kate Moss clothes collection, sold by his Topshop retail outlets, are made in a Mauritian sweatshop.
Sir Philip yesterday quoted three audits and two letters which he said proved the factories mentioned in an article by the Sunday Times were "generally compliant with relevant codes of practice".
The letters from the two factories in question showed they paid their workforce above the rates set down by the Mauritian government, he said. - (Reuters)
US consumer prices stable
Falling petrol costs held US consumer prices nearly in check in July and industrial output rose, according to data that suggested the economy was sound, despite credit fears in financial markets.
Other reports yesterday showed a slight dip in New York state manufacturing activity this month and a decline in the amount of capital flowing into the US in June.
Analysts said the latest data, combined with reports earlier this week showing solid retail sales and a shrinking trade deficit, point to an economy that is doing fairly well. - (Reuters)
Hunter increases stake in Dobbies
Scottish businessman Tom Hunter increased his stake in Dobbies Garden Centres twice yesterday, signalling he intends to remain a thorn in the side of retail giant Tesco, which has agreed to buy Dobbies.
Hunter's West Coast Capital, which owns rival garden centre chains Wyevale and Blooms of Bressingham, increased its stake in Dobbies to 28.88 per cent from 27.66 per cent in two purchases. - (Reuters)
