International Monetary Fund (IMF) has warned of a 20-30% oil price spike if Iranian exports are disrupted. The IMF warned that if the West imposed financial sanctions on Iran, it would be tantamount to an oil blockade, and the shock to the

continue reading.....

The pace of US economic growth increased in the final three months of 2011, according to official figures. The economy grew at an annualized rate of 2.8%, the Commerce Department said. This was up from the 1.8% annual rate recorded in

continue reading.....

Facebook will begin the process of becoming a publicly-listed company this week, valuing the social networking site at between $75bn and $100bn. The company plans to file papers with the US financial watchdog on Wednesday, according to the Financial Times

continue reading.....

The pace of the US service sector’s growth picked up in last month, according to a new report. The Institute for Supply Management (ISM) said its services index rose to 52.6 last month from 52 in November. A reading above 50 indicates expansion. The ISM survey of US services covers industries ranging from

continue reading.....

Samsung Electronics has said it expects to report a big jump in profits for the final three months of last year, thanks largely to record smartphone sales. The South Korean firm said it expects operating profits for the period to be $4.5bn, 73% higher than a year a earlier.

continue reading.....

Chinese oil firm Sinopec has agreed a $2.2bn deal with Devon Energy, giving it access to shale deposits in the US. Sinopec will get a one-third stake in five new shale projects, with the firms expecting to drill 125 wells this year.

continue reading.....