Oil Price Hits Nine-Month High in New York

The price of oil is rising, hitting a nine-month high on the New York market as traders worry about the disruption in Iranian oil exports. On Sunday, Iran cut off the small amount of oil it supplies to British and French companies. It was a pre-emptive retaliation against the European Union's planned embargo of Iranian oil starting in July that is aimed at halting Tehran's nuclear development

Central bank aid sought in Greek bail-out

Eurozone governments are looking to the European Central Bank and national central banks to help pare back the cost of a second rescue package for Greece which would otherwise amount to �170bn. Figures seen by the Financial Times reveal Greece needs �136bn in fresh bail-out funding from the European Union and International Monetary Fund -- in addition to the �34bn left over from Greece's first