Oil prices have dropped sharply after reports that Saudi Arabia could restore production levels within weeks after an attack on its largest refinery.
The Reuters report indicating the world's largest oil exporter would recover more quickly than previously expected sent the price of a barrel of Brent crude down 6 per cent.
Elsewhere, WeWork has postponed its plans for a multi-billion dollar stock market flotation after investors balked at the loss-making office space firm's valuation.
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"This is the most prudent decision to give the company the time necessary to restructure its plans to move the project forward.
"The process will incorporate feedback from prospective credit providers around the risks associated with construction and will include seeking a major strategic partner for the project."
"It's clear the leadership at French Connection has a job on their hands to breathe new life in this former 'cool' brand.
"It's a big ask, especially as the current retail climate shows no respect to high-profile brands, but one the company needs to undertake if it's to relive its former glories."
The results were the first for Ocado Retail, the online grocer's retail arm created as part of its £750 million joint venture with Marks & Spencer. M&S products will be available through Ocado from September 2020.
Weekly orders through Ocado rose 12.1% as it was buoyed by increased delivery slots during the period to September 1.
Melanie Smith, M&S's former strategy director who took the reins at the joint venture last month, said the results highlighted Ocado's "resilience" following the fire at its Andover facility.
Press Association
"As we move closer to October 31, it seems talk about stockpiling might be just that because we're not seeing any evidence of it at the moment.
"In fact, households bought 0.9% fewer items during the past 12 weeks than they did last year."
"It would appear that WeWork has missed the boat when it comes to getting investors to buy into an idea that has yet to prove profitable."With the company losing $2 for every $1 it makes, even a valuation as low as $15bn and $18bn hasn’t been enough to whet investor appetite, particularly since a number of this year’s unicorns are now languishing below their IPO launch prices."As Uber can attest a popular business model doesn’t always translate into a realistic valuation and looking at WeWork’s numbers it is hard to make a case for the type of valuation being asked for now, let alone the one we saw at the beginning of the year.
The future of a giant mine in Yorkshire and the creation of more than 1,000 jobs have been thrown into doubt after the company behind the project said plans to secure financing have been derailed by Brexit and a lack of government backing.
Sirius Minerals announced on Tuesday that a long-planned $500m (£403m) bond sale will not go ahead, given the “current market conditions”. The company needed the additional funding from investors to complete work on the mine to extract polyhalite potash, a type of fertilizer, in North Yorkshire, as well as on a transportation tunnel to Teesside.
“As a result of global market conditions, the ongoing uncertainty surrounding Brexit and the political environment in the United Kingdom, the company and its advisers believe that [the sale] … is now unlikely to be achievable,” Sirius said.
Sirius Minerals: Future of Yorkshire employer in question as mining firm looks for more funding
Police said in a statement Tuesday that they are investigating a suspected arson attack late Monday on the house of Valeria Gontareva outside the capital, Kiev.
An unknown assailant is said to have hurled a gasoline bomb over the fence of her property. Firefighters were unable to put out the blaze.
Gontareva, who is currently a senior policy fellow at the Institute of Global Affairs in London, was also hit by a car at the end of August, and earlier that month a car registered to her daughter-in-law was set on fire in Kiev.
West Texas Intermediate is down 5.1 per cent to to $59.68 a barrel while Brent crude, the international benchmark, is also down 5.1 per cent to $64.21. Both rose more than 14 per cent Monday.
Saudi Arabia's energy minister is expected to give an update on the country's oil production later.
A drone attack hit Saudia Arabia's largest oil processing plant on Saturday, lead to the biggest disruption of crude oil supply in modern history.
