Financial officials from the Group of Seven industrialised nations will discuss how to coordinate action between their countries’ central banks, a source said today.

Oil hit $50 a barrel in Asian trade today, reaching that threshold for a second straight day even though Saudi Arabia vowed to boost production capacity to try pushing the price lower.

THE Irish Index of shares slumped yesterday. The ISEQ closed 156.73 lower to 3838.52 points.