Cost cuts boost Peugeot profits

Strong profits at British Airways
British Airways reports 35% growth in nine-month profits, despite rising fuel costs and a consumer slowdown.

Oil price up as Asian stocks rise
Oil prices bounce back from a three-and-a-half year low, tracking Asian stocks higher, but are still below $50 a barrel.

Peugeot Citroen cuts 2,700 jobs
French car company Peugeot Citroen announces plans to shed 2,700 jobs because of falling demand in Europe.

HP's profits exceed expectations
The world's biggest PC maker, Hewlett-Packard, has revealed better-than-expected net profit in the fourth quarter.

OECD projects protracted slowdown
The Organisation for Economic Co-operation and Development forecasts a "protracted slowdown" for leading economies.