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Morning business round-up: Commodity prices volatile

What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Brent Crude Oil Futures $/barrel

Last Updated at 21 Sep 2017, 06:45 GMT *Chart shows local time Brent Crude Oil Future intraday chart
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Commodity prices continued to be volatile for a second day. The swings came after markets were hit by one of the biggest falls in commodity prices in two years on Thursday.

Brent crude fell 5.8% to $105.15 a barrel, adding to an 8.6% drop on Thursday, before rebounding to $108.

Other raw materials, such as cotton, fell back in price.

Our Business Daily podcast spoke to the head of Unilever - a heavy user of commodities. Frank Brayken, Unilever's executive vice president for North Africa and central Africa, explains what effect high commodity prices are having on his business.

UK banks were also in focus for the second day running as RBS reported losses widened in the first quarter.

Royal Bank of Scotland saw its net - or attributable - losses widen in the first quarter to £528m, hit by its exposure to the troubled Irish economy.

Newly formed airline company International Airlines Group, which owns BA and Iberia, reported a narrowing in losses.

The firm lost 47m euros in the first quarter of the year, down from a 273m euro loss a year ago.

The improved result came as the airline's revenues rose 15.4% on the year as business volumes recovered, and despite a 31% jump in fuel costs.

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Sony shares slumped in their first day of trading after admitting to a data breach .

The shares fell 4% at first as Tokyo's benchmark Nikkei index resumed trade after the Golden Week holiday, but they recovered to end the day down 2%.

The company admitted on 3 May, while Japanese markets were closed, that 100 million users' data had been stolen in a second security breach.

And for environmentally conscious fans of upmarket motor companies, good news - Jaguar has unveiled a hybrid supercar.

Deep pockets will be needed - the petrol-electric hybrid supercar will cost £700,000 ($1.1m) in the UK.

It will make 250 cars in the UK in partnership with Formula 1 team Williams F1. The new model will be able to accelerate from nought to 60mph in three seconds.

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