FT Update

Wed 6 Jan 2010

Winter weather pushes crude to 15-month high
US crude oil prices neared $82 a barrel, reaching a 15-month high as cold winter weather gripped North America, boosting demand for heating oil. Brent crude, the European benchmark, pushed above the $80 a barrel mark as snowy weather affected northern Europe.

Next warns on recovery
Retailers face a "sluggish" year as the need to cut Britain's debt burden threatens to derail a consumer recovery, the head of Next warned, in spite of the clothing chain reporting its first underlying sales growth for four years.

Wind farm challenges
A £100bn expansion of offshore wind power to be launched by the prime minister on Friday faces an "immense challenge" to meet government targets, an advisory body warned.

Google's online store
Google has opened a new front in its push into the mobile phone business with the launch of an online store to sell handsets and service from operators on both sides of the Atlantic.

Spanish jobless blow
Spanish unemployment rose to nearly 4m in December, its highest level for more than a decade.

Prince 'donates' shares
Saudi investor Prince Alwaleed bin Talal al-Saud has revealed that he plans to shore up the balance sheet of his Kingdom Holding investment vehicle by "donating" SR2.24bn (£347m) of Citigroup shares into it.

Coutts HQ for sale
Private bank's offices among £475m properties occupied by Royal Bank of Scotland

Pru in Singapore link
UK life assurer hopes to boost its presence in south-east Asia.

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