Business

Morning business round-up: Oil price falls

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

Oil prices have fallen on hopes the conflict in Libya may be nearing an end after rebels entered the capital Tripoli.

Brent crude futures fell 1.8% to $106.7 a barrel, while US sweet, light crude was steady at $82.9 in morning trading.

Economic growth in Thailand slowed in the second quarter due to supply chain disruptions caused by the earthquake and tsunami in Japan.

Growth was 2.6% in the three months to the end of June, compared with the same period a year earlier, down from 3.2% in the first quarter.

North Korea has said it is seizing assets at a tourist site jointly operated with South Korea, giving South Koreans 72 hours to leave the resort at Mount Kumgang.

The resort used to be a symbol of co-operation between the two Koreas but joint operations were suspended in 2008 after a South Korean tourist was shot dead by a North Korean soldier.

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Deutsche Bank's South Korean brokerage and four of its employees have been charged with illegally manipulating Seoul's stock market last year.

Korean prosecutors allege the firm earned more than 45bn won ($41.5m; £25m) in unfair trading on 11 November. Deutsche Bank denies the charges.

UK software company Micro Focus has ended takeover talks with a number of suitors, saying it now plans to restart a share buy-back programme.

US private equity group Advent International, one of the companies that had held bid discussions with the UK firm, blamed the decision on "current market volatility".

Today's Business Daily programme from the BBC World Service asks whether Europe and the US face a Japanese-style lost decade of stagnation, and also looks at how western banks have embraced Islamic banking.

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