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Spain's Amancio Ortega overtakes Warren Buffett as world's second richest

Spanish billionaire has net worth of $69.8bn as of 5 June, slightly higher than Buffett's $69.2bn fortune.

China begins big week of economic data with weak trade results

China is due to release its inflation figures on 9 June, while data on retail sales, industrial production and fixed asset investment are slated to come on 11 June.

Oil prices down amid oversupply fears from Iran, as Opec decides to maintain production goal

WTI crude fell 0.83% to $58.64 per barrel, while Brent crude for July fell 0.68% to $62.88 as at 1.10am ET.

John Cryan to be sole head of Deutsche Bank as co-CEOs resign following Libor scandal

Anshu Jain and Juergen Fitschen quit following investors' protest.

More news

Crude oil futures drop amid Opec's decision to keep output unchanged

Capital Economics believes that Brent is "now back within a whisker" of its end-2015 forecast of $60 per barrel.

Apple App Store growing by over 1,000 apps per day

In May, there were 40,037 app submissions on App Store, while applications for games totalled 13,905.

Gold prices set to drop amid upbeat US data and downbeat Asian demand

US Federal Reserve expected to hike interest rates this September, a negative for bullion prices.

Nestle hires US public relations specialist APCO Worldwide to handle Maggi crisis

APCO's clients in India include Dow Corning, Walt Disney, Mastercard, Cairn, Welspun and Facebook.

China accounted for 25% of global industrial robot purchases in 2014

Sales of industrial robots in China hit 57,000 in 2014, marking year-on-year increase of 55% and quarter of global sales.

IMF agrees $833m loan for Iraq amid Isis conflict and lower oil prices

Agreement expected to be submitted to IMF executive board for consideration.

Brazilian billionaire Lemann May Target Diageo

Diageo: Brazilian billionaire mulls bid for firm which owns Johnnie Walker and Smirnoff

The news boosts the US-listed shares of Diageo, which finished 8.04% higher in heavy trading on 5 June.

Greece turns to Russia as Prime Minister Alexis Tsipras rejects 'absurd' creditors' demands

Athens looking for €5bn advance to be hub of new gas pipeline from Russia.

Market round-up: Morrisons among biggest fallers as FTSE 100 hits 2-month low

Morrisons has been struggling with competition making things tricky for the supermarket.

Greece economy: IMF debt repayment delay a negotiating tactic

Athens decided to postpone the payment of the €300m (£218m, $338m) loan – a highly unusual step, but one that does not yet signal a formal default.

Sabu Returns to Twitter Anonymous protest

Sabu is back: Hacker-turned-informant Hector Monsegur Twitter return angers Anonymous

Hector Monsegur, the former Anonymous hacker-turned-FBI informant is back online, with predictable results

How the popularity of cycling is giving bike retailers like Halfords a boost

Halfords reported buoyant sales today.

Did Chinese hackers use an OPM audit to steal 4 million US federal employee records?

An audit of the Office of Personnel Management in 2014 found multiple serious and on-going security risks

UK jobs: Growth in permanent contracts slowed down after general election

Pay growth in the public sector was only 0.2% in May compared with May last year.

US economy adds 280,000 jobs in May

However, the unemployment rate crept up by 0.1% to 5.5%.

Dollar surges across the board on non-farm payrolls boost, yen at 13-year low

Canadian jobs data too came stronger than expected.

Goldman Sachs may fork out over $2bn to settle US probe over mortgage bonds

The Wall Street investment bank could strike a deal with the US Justice Department within weeks.

Worldpay to hire 6 banks for its planned £6bn London floatation

Goldman Sachs, Morgan Stanley, BofA, Barclays, UBS and Credit Suisse could manage the planned share sale with Lazard.

Halfords store, Savins Mill Way, Kirkstall

Halfords moves up a gear with revenues in excess of £1bn for first time

The company's group revenue was up 6.9%.

Nestle continues to defend Maggi noodles amid pullout from India market

Nestle's global CEO Paul Bulcke says company wants recalled Maggi noodles back on shelves as soon as possible.

Edward Snowden: NSA secretly had spying powers expanded under Obama administration

NSA spying powers expanded in 2012 to monitor IP addresses of foreign powers communicating with US.

Vodafone confirms early asset exchange talks with Liberty Global after merger speculation

The company emphasised it had no plans to merge with Liberty, despite media speculation

Asian markets round-up: Bourses outside Shanghai trade lower

The Shanghai Composite settles above 5,000 points for the first time in seven years, after volatile intra-day trading.

Gold and silver hold 1-month low ahead of US non-farm payrolls

Both the metals are not far away from falling to fresh yearly lows.

India asks for oil price concessions from Opec

With its ever-increasing oil demand, India is expected to become prime customer for Opec members.

Lloyds hit with record £117m fine for 'unacceptable' handling of PPI complaints

It is more than five times the amount of the previous record PPI fine.

Apple CEO Tim Cook speaks about the Apple Pay service during a presentation at Apple headquarters in Cupertino, California October 16, 2014

Apple Pay: Two-thirds of top US retailers not to accept mobile payment service in 2015

Insufficient customer demand, lack of access to data generated in Apple Pay transactions and cost of technology are discouraging retailers.

Fifa in Crisis: Corruption scandal highlights 'complicity' of global banking system

Financial reform organisation Jubilee USA Network says corruption is aided by US banks.

US SEC probes activist investors for possible secret collaboration to target firms

SEC's enforcement division has recently opened multiple investigations and sent requests for information to number of hedge funds.

China denies involvement in massive US data breach

Chinese embassy in Washington calls US accusations 'not responsible and counter-productive'.

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