British clothing retailer Austin Reed today emerged as the target of a £42m (€62m) buy-out bid from the owners of a finance and property investment firm.

OIL fell below $73 a barrel yesterday as refiners in the United States cranked up gasoline output, easing supply crunch worries ahead of the peak demand summer driving season.

OIL fell below $73 a barrel yesterday as refiners in the United States cranked up gasoline output, easing supply crunch worries ahead of the peak demand summer driving season.