Global demand for OPEC crude in 2015 is expected to fall to the lowest level in more than a decade and far below current output, the group said on Wednesday, pointing to a hefty supply surplus without OPEC output cuts or a slowdown in the U.S. shale boom.
United Kingdom
World set to end year in brittle economic state
The global economy is ending the year in a fragile state with factory activity shrinking in China, euro zone business growth remaining weak, and emerging market giant Russia in a spiraling currency crisis.
Oil slumps near $59 for first time since 2009 on oversupply
Oil fell to just above $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.
Oil hits new five-year low before rallying to $63
Brent crude oil hit a fresh five-year low close to $60 a barrel on Monday after producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to around $63.
Asking prices for UK homes suffer record fall: Rightmove
Asking prices for homes on sale in Britain posted the largest monthly fall on record in December but are likely to rise by between 4 and 5 percent next year, property website Rightmove said on Monday.
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BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a $1 billion restructuring program announced on Wednesday following steep falls in oil prices.
A new British tax on companies that shift profits out of the country and into tax havens will target inter-company fees for services like use of intellectual property, according to a Treasury document seen by Reuters.
Tax deals that entertainment firm Walt Disney Co, commodities group Koch Industries and others agreed with the Luxembourg authorities were revealed on Tuesday by the International Consortium of Investigative Journalists (ICIJ).
New Scotland Yard, the headquarters of London's storied police force and one of the British capital's most famous landmarks, has been sold to an Abu Dhabi investor, paving the way for its macabre but private museum to open to the public elsewhere.
A French-American software start-up is to launch the world's first mainstream automatic password changer in an attempt to remove the all-too-human frailty that has rendered the phrase "computer security" a worrying oxymoron.
British industrial output unexpectedly fell in October as manufacturing was dragged down by a sharp fall in production of electronic products following a strong September.
European stocks and government bonds dipped on Monday as weak data from Asia, a rating downgrade for Italy and the slump in oil prices stoked concerns about global growth.
British toymaker Hornby will sell model vehicles based on the new James Bond film, extending a tradition dating back half a century as the suave British agent returns to the screen.
British spies did not break laws guaranteeing human rights when they used mass monitoring techniques revealed by former U.S. National Security Agency contractor Edward Snowden, the country's surveillance watchdog ruled on Friday.
