oil

Warren Buffett's Berkshire Hathaway has purchased a $3.45bn stake in oil company Exxon Mobil.

Royal Dutch Shell has seen a $2bn (£1.25bn) drop in third-quarter profits as costs across the business have soared.

THE BIQ QUESTION

COMMODITIES

CONTRARIAN

Guy Monson, CIO of Sarasin & Partners, has outlined a number of key risks which could impact rising global equity markets as we head into 2014, amid the well-flagged move by the US central bank to wind down QE.

The managers of Standard Life Investment's giant £18bn Global Absolute Return Strategies fund have put in place four key trades ahead of an expected uptick in volatility in September, which they expect to benefit investors into 2014.

The UK's headline inflation rate fell back to 2.8% in July, matching analysts' expectations, the latest data has revealed.

The Financial Conduct Authority (FCA) has fined a US-based oil trader £600,000 for market manipulation.

M&G has won its fight to add four non-executive directors to the board of Gulf Keystone Petroleum (GKP) after the small-cap oil group backed down at the last minute.