Tropical storm Gustav continued its destructive sweep across the Caribbean today, this time heading for Jamaica and the wealthy banking enclave of the Cayman Isles.

AN OXFORD-educated son of Indian immigrants won the Louisiana governor’s election yesterday, becoming America’s youngest and the first non-white to hold the state’s post since the 1870s.

Officials in the US state of Texas are today preparing for Hurricane Dean.

Bono’s iconic Armani shades, a Jimi Hendrix guitar and a saxophone signed by former US President Bill Clinton are just some of the 200 pieces of music memorabilia being auctioned off for charity this month.

Specialist Lloyd’s insurer Advent has announced an after-tax profit of £15.4m (€23m) for 2006, compared with a loss before tax of £74.8m (€111.5m) the previous year.

In the New Orleans neighbourhood President Bush visited right after Hurricane Katrina, the US government gave $84.5m (€65.3m) to more than 10,000 households.

RAIN has been sparse and sporadic. On the country lanes, the hart’s tongue ferns are half dead.

Elton John will receive the Legend of Live Award at the Billboard Touring Awards in New York City later this year.

Bogus claimants spent up to $1.4bn meant for hurricane victims on tropical holidays, champagne, a divorce lawyer and even a sex change, investigators in the United States have revealed.

BP said today that freezing winter weather in Russia had hit production at the unit that produces nearly a quarter of its oil.

US stocks resumed their advance on Wall Street today after New York’s Federal Reserve president said in a speech that US inflation was “quite moderate”.

Solid employment data failed to extend Wall Street’s rally today as renewed interest rate concerns spurred profit-taking and left stocks mixed.

Strong growth in the United States’ gross domestic product spooked investors and sent stocks mostly lower today as the data renewed fears that the Federal Reserve would continue raising interest rates.

Lloyd’s of London warned today its market only had a slim chance of making a profit this year, after losses in the wake of Hurricane Katrina spiralled.

Stocks surged higher today after new data soothed inflation concerns and the price of oil tumbled to its lowest level in five months. The advance carried the Nasdaq composite index to a new 52-week high.

Huge oil company profits at a time when motorists are paying very high prices for fuel have sent shivers through a US Congress worried about the political fallout.

BERKSHIRE HATHAWAY, the insurance and investment company run by billionaire Warren Buffett, said over the weekend that $3 billion (€2.5bn) in claims from Hurricanes Katrina and Rita triggered its lowest quarterly profit since 2001.

A late rally gave Wall Street a modest advance today after a lacklustre employment report left investors wondering about the pace of US economic growth and inflation.

Jennifer Lopez's upcoming drama South Beach has been hounded with problems, thanks to this year's extremely active hurricane season.

Wall Street ended the month with a modest advance today as a turnaround in personal spending and a flurry of acquisition activity reassured investors worried about a faltering economy.

Stocks rallied sharply today, with the Dow Jones industrials gaining 172 points on better-than-expected gross domestic product growth last quarter despite the disruptions caused hurricanes Katrina and Rita. The major indexes finished an erratic week higher.

Record profits for a UK company could be set by BP this year after the oil giant revealed today it was taking more than £30m (€44.3m) every day.

Oil giant BP was on course today to set a new benchmark for annual profits by a British company despite disruption caused by the hurricane season in the US.

The rapid rise in house prices – which has made Americans feel wealthy and inclined to spend over the last several years – won’t continue indefinitely, President George W. Bush’s top economist said today.

The governor of Florida today declared a state of emergency ahead of approaching Hurricane Wilma, but the state got a little breathing room when the storm’s slower pace postponed its likely landfall.

Hurricane Wilma weakened slightly as it roared toward Mexico’s Yucatan peninsula and southern Florida today, leaving at least 12 people dead in its wake and forcing the evacuation of tens of thousands in coastal areas from Honduras to the Florida Keys.

Hardware stores that sent supplies to areas devastated by Hurricanes Katrina and Rita restocked their shelves for anxious Floridians waiting to see if Hurricane Wilma would turn toward the peninsula, which forecasters said could happen by the weekend.

Wilma, the record-equalling 12th hurricane of the Atlantic season, is poised to become a major category four storm as it steams along a track that will take it past Central America, Cancun, Cuba and eventually into Florida.

Surging oil and mining stocks put some gloss on an otherwise lacklustre session for the London market today.

Wall Street remained mired in uncertainty today, ending an erratic session narrowly mixed as investors’ inflation worries worsened in the face of a sharp jump in import prices.

Stocks fell in the United States today as a gloomy tone was set on Wall Street by Delphi Corporation’s bankruptcy filing and lowered outlooks from Northrop Grumman and Xilinx.

Wall Street made a muted advance today but still finished the week lower after a better-than-expected employment report raised hopes about the US economy’s strength despite the recent hurricanes.

Chronic economic worries stifled Wall Street’s attempt at a rebound today as stocks fell for a third straight session.

PENSION fund managers had a strong third quarter with the average fund growing by 5.6%, according to industry figures published yesterday.

Potential blows to the profits of the UK’s heavyweight companies kept investors away from the London market today.

The London market lost sight of its recent milestones today as investors fretted over a warning from oil giant BP that storm damage may harm its profits.

BP today warned that Hurricanes Katrina and Rita may knock more than £400m (€589m) off profits in the third quarter of the year.

Stocks turned in a mixed performance today after a report showed that the nation’s manufacturing sector was expanding but facing even higher costs, triggering worries about inflation and rising interest rates.

Wall Street ended a erratic quarter with a modest advance today as falling oil prices helped ease concerns about a weakening consumer environment following hurricanes Katrina and Rita.

Stocks rallied strongly on Wall Street today as investors grew more confident about the prospects for the economy despite the impact of hurricanes Rita and Katrina.

The Aviator star Alec Baldwin is making a trip to New Orleans, Louisiana, to help with the relief efforts in the hurricane ravaged city.

Most US stocks closed higher today after Federal Reserve Chairman Alan Greenspan said the economy has weathered the increase in oil prices “reasonably well”.

Hurricane Rita’s path of devastation along the Texas-Louisiana coast became shockingly clear as rescuers pulled stranded bayou residents out on skiffs and Army helicopters searched for thousands of cattle feared drowned.