Oil output freeze deal stumbles amid Iran-Saudi tensions

Saudi Arabia demanded on Sunday that Iran join a global deal on freezing oil output, jeopardizing an agreement between OPEC and non-OPEC producers that was supposed to help ease a glut and prop up the price of crude. Some 18 OPEC and…

Oil-reliant Libya on verge of economic collapse

The rapid deterioration of Libya’s oil-dependent economy is threatening the objectives of the country’s new Western-backed government and budding efforts to confront the Islamic State in North Africa, political and security analysts…

March salaries sent to CBL, announced Ministry of Finance

The Finance Ministry in the Salvation Government, Tripoli, said it sent the salary payment orders to the Central Bank of Libya Monday. The ministry explained that the salaries amounted to more than 1 billion and a half dinars, all…

Man pays nearly £2 million tax bill in pennies

A furious property decided to pay his £1,851.94 council tax bill in pennies after devising a method to pay in the most inconvenient way possible. Russell Skellett thought he did not have to pay council tax for two houses he bought…

Yahoo to separate its Alibaba stake, reports confirmed

The US internet firm Yahoo has confirmed it is looking at "strategic alternatives" for its business - including splitting off its stake in Chinese online retailer Alibaba. Yahoo said it is setting up a committee to look into how the…

Biggest annual loss for BP oil group in 20 years

The Guardian BP is to cut another 3,000 jobs after reporting a loss of $6.5bn, its worst annual loss in at least 20 years. The latest job cuts are in addition to the 4,000 job cuts already announced. The group also said it has set…

Rolls-Royce wins billions worth Norwegian deal

BBC Rolls-Royce has announced a $2.7bn (£1.9bn) order to manufacture and service Boeing 787 Dreamliner engines for the airline, Norwegian. It will provide its Trent 1000 engines for 19 new Dreamliners. Today's deal is some welcome…

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