The owner of British Airways and Iberia doubts it will be able to sell two loss-making units of BMI, which it recently bought from Lufthansa.

Alibaba.com reports a 25% dip in first quarter profit amid falling membership sales to businesses and higher operating costs.

Australian inflation slows more quickly than expected, falling to 0.1% in the first quarter, boosting hopes of a rate cut.

Associated British Foods announces a 3% rise in half-year profits thanks to strong performances from retailer Primark and its sugar business.

Swiss drugmaker Novartis reports a sharp fall in profits, due in part to manufacturing problems at a US plant and to currency moves.

Carpetright warns again that its profits will be lower than previously forecast, blaming disappointing bed sales and weak trading in Europe.

The UK government borrowed more than expected in March, official figures show, but still met its borrowing target for the year.

Royal Dutch Shell reaches an agreement to buy London-listed Cove Energy for £1.12bn in a bid to tap into East Africa's gas reserves.