The Artesian Blog takes a look at the business headlines. For personalised daily news, contact Artesian:
Government may break its promise over MG Rover inquiry - The controversial report into the collapse of MG Rover might never be published, The Daily Telegraph can disclose.
The news comes amid speculation that the report could be politically damaging to Gordon Brown and other senior ministers, whose actions face scrutiny. The car maker collapsed with the loss of 6,000 jobs at the start of the 2005 general election campaign. (full story)
Shell profit falls 70 percent but beats forecast - Royal Dutch Shell posted a 70 percent fall in net profit in the second quarter, as oil prices and refining margins tumbled, but foreign exchange gains helped the oil major beat forecasts.
The world's second-largest non government-controlled oil company by market value said on Thursday second-quarter current cost of supply (CCS) net income, which strips out unrealised gains or losses related to changes in the value of fuel inventories, was $2.34 billion (1.42 billion pounds). (full story)
Sony's profits continue to fall - Sony's woes are continuing as the electronics giant reported another quarterly loss due to falling sales.
The Japanese company made a net loss of 37.1bn yen ($390m; £237m) between April and June, compared with a profit of 35bn yen for the same period last year. (full story)
BG cuts production targets as gas price falls - BG Group, the international gas producer, yesterday cut its production targets in response to falling demand for fuel.
A global glut of liquefied natural gas (LNG) and a slump in demand have forced BG to push back its output target of 680,000 barrels of oil and gas per day by three months to March 31, 2010. (full story)
Signs of life show in housing market as loan approvals rise - Fresh evidence that Britain's battered housing market is finally on the road to recovery came yesterday with Bank of England figures that showed mortgage approvals for house purchases in June reached 47,584, the highest number since April 2008 and the fifth monthly improvement in a row.
But mortgage lending was a lot lower than expected at £343m – economists had predicted £600m – and total consumer lending was its weakest since the Bank first recorded it in April 1993. (full story)
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