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The price of groceries such as bread and cereal is rising at its fastest rate for a year as the cost of wheat rockets.

The head of steam built up by UK manufacturers shows little sign of abating, with the sector enjoying its best run for 15 years.

Virgin Money has created 200 jobs in Edinburgh as it seeks to make inroads into the British banking sector.

House prices edged up by 0.2% in August, according to figures from Halifax.

About 10,000 jobs are at risk as social housing firm Connaught prepares to go into administration after failing to raise extra funding from lenders.

NEW YORK (Reuters) - Stocks rose at the open on Wednesday, tracking European stocks up and ahead of Federal Reserve comments on the state of the economy.

NEW YORK (Reuters) - Women's clothing retailer Talbots Inc posted lower-than-expected quarterly sales and its shares fell 11.6 percent as efforts to keep inventory lean and preserve margins left it short of items to sell.

NEW YORK (Reuters) - Oracle Corp offered its new president, Mark Hurd, former head of Hewlett-Packard Co, a salary of $950,000 and a bonus of up to $10 million for fiscal 2011, plus stock options.

WASHINGTON (Reuters) - President Barack Obama will push billions of dollars in new business tax incentives and spending on big construction projects on Wednesday, as he tries to convince a balky Congress to pass measures intended to spur the economy and create jobs.

A BP report says "a series of failures" by BP and its contractors were to blame for the massive Gulf of Mexico oil spill.

UK house prices have stabilised, according to the latest survey from the Halifax.

MOSCOW (Reuters) - Oil giant BP is open to talks about selling assets to Russian companies as part of its $30 billion fund raising programme to help pay for the Gulf of Mexico oil spill, the group's Russia chief said on Wednesday.

LONDON (Reuters) - BP shifted much of the blame for a rig blast that led to the United States' worst-ever oil spill onto its contractors Transocean and Halliburton.

The country "cannot afford" to write-off underpayments of income tax caused by problems with the calculation system, a minister says.

Business Secretary Vince Cable has unveiled plans for a squeeze on public funding for scientific research.

BP is on Wednesday expected to release findings of an internal investigation into the Gulf oil disaster, the oil giant said.

Vodafone pockets $6.5bn in cash following the sale of its 3.2% stake in China's biggest wireless operator, China Mobile.

Phone card firm Lycatel agrees to make its charges much clearer in its adverts for international phone cards

BP's stock jumped more than 3 percent after credit rating company Fitch boosted the company's rating three notches. The move came as BP released a report blaming the Gulf oil disaster on multiple causes.

LONDON (Reuters) - For a bank that prides itself on smooth successions, HSBC is suddenly scrambling to pick its next chairman.