Lone Star Funds to take over IKB
US private equity firm Lone Star is to buy German lender IKB Deutsche Industriebank, its biggest shareholder says.

Cost cuts help lift Gap's profits
Clothing retailer Gap reports a rise in quarterly profits even though its sales fell on the year previously.

China bank sees top 2008 profits
China's largest bank reports a 57% jump in first half profits and says its earnings have outstripped any of its rivals.

Supply concerns send oil surging
Oil prices breach $122 a barrel on the back of geopolitical worries after the US signs a missile shield deal with Poland.

Wholesale gas prices up on leak
Wholesale gas prices in the UK jump by 15% after a gas pipeline leak in the North Sea.

German tyre firm succumbs to bid
Tyre maker Continental agrees that suitor Schaeffler can buy up to half the company after it ups its offer.

Japan surplus down as US weakens
Japan's trade surplus shrank by more than expected in July, as a result of weaker US demand and an increase in oil imports.

Fannie Mae and Freddie Mac slump
Shares in US mortgage finance giants Fannie Mae and Freddie Mac plunge again amid new talk of a government bail-out.

Cemex challenges nationalisation
Cement giant Cemex is to seek arbitration at the World Bank after Venezuela's government seizes its local subsidiary.

German law to target non-EU bids
Germany prepares legislation aimed at blocking sovereign wealth funds from taking big stakes in local firms.