BoE urged to hold rates – today's papers

A slew of downbeat economic data has bolstered the case against raising interest rates on Thursday, according to leading business groups.

The British Chambers of Commerce and the Institute of Directors (IoD) have urged policy-makers to keep interest rates at the historically low level of 0.5%, claiming any increase this month would damage economic recovery. MORE...

Ivan Glasenberg, chief executive of Glencore International, is set to make almost $10bn (£6bn) from the flotation of the commodities trading house later this month, with four other directors becoming paper billionaires. MORE...

The FSA has approached Sir David Walker to help settle the myriad legal arguments delaying the release of its report into the collapse of Royal Bank of Scotland. MORE...

Growth in the UK construction industry slowed sharply in April, weighed down by a contraction in housing activity, data has shown. MORE...

European Central Bank President Jean- Claude Trichet today may indicate just how fast he's prepared to raise interest rates over the coming months. MORE...

The euro rose toward a 17-month high against the dollar on speculation the European Central Bank will signal today it intends to raise interest rates this year. MORE...

BP's subsidiary in Alaska will pay a $25m (£15m) civil penalty under a settlement that comes five years after more than 200,000 gallons of crude oil spilled from company pipelines. MORE...

Oil declined for a fourth day in New York, the longest losing streak in eight weeks, as a drop in gasoline demand added to signs of slowing growth in the U.S., the world's biggest crude consumer. MORE...

The Chancellor's decision to raise the tax charge on North Sea oil firms in his Budget in March came as a "huge shock" to the industry, a Parliamentary committee heard yesterday. MORE...

The price of silver futures tumbled again on Wednesday, taking total losses to more than 20pc in a week amid fears that the precious metal represented a bubble bursting. MORE...

Portugal has agreed to sell off the government's stakes in some of its best-known companies in exchange for a €78bn (£70bn) bail-out provided by the European Union and International Monetary Fund. MORE...

The number of millionaires will soar by more than 70 per cent over the next decade, and the members of this elite club will control more than $200trillion (£121trillion) in assets, twice as much as they do now, according to the consulting firm Deloitte - another piece of evidence that the world's rich will continue to get richer. MORE...

The number of houses put up for sale has soared by 25% as people become more realistic about how much their homes are worth, research indicated today. MORE...

Supermarket group Morrisons has posted stronger-than-expected sales but says it remains "cautious" given the financial pressures facing shoppers. MORE...

News Corporation has reported a 21% fall in three-month profits because the film Avatar was making so much money in the same period last year. MORE...

South Korea's parliament has ratified a free trade agreement with the European Union, clearing the last hurdle for the deal to take effect in July. MORE...