Dublin-headquartered exploration company Falcon Oil & Gas is to take a dual share listing in London and Dublin, aimed at raising $25m (€19.2m).

The London Stock Exchange has abandoned plans to merge with the owner of the Toronto Stock Exchange after concluding not enough of the Canadian group’s shareholders would back the deal.

London Stock Exchange increased profits by almost two thirds last year despite lower revenues in its core share trading business as competition from newer rivals intensified.

The London market retreated today as fears over China’s decision to raise interest rates continued to weigh on the minds of investors.

PROVIDENCE Resources has agreed a further farm-out agreement concerning part of its mining assets in the Celtic Sea off the south coast.

IRISH exploration company MinMet is to sell its Bjorkdal gold mine in northern Sweden for $8 million (€6.6m).

Mining and exploration company Minmet said its spin-off company GoldQuest had started trading on the Toronto Stock Exchange.

Canadian company Labopharm is to open its European headquarters in Clontarf, Co Dublin tomorrow.

Air Canada tonight said it is filing for protection from creditors, seeking time to reorganise its business and negotiate concessions from unions and help from the government.