Tiffany’s sales lose sparkle

US jeweller, Tiffany, suggested more evidence that the economic slowdown in the US was affecting affluent shoppers, with new weakness in US demand for ‘statement’ jewellery pieces priced above $50,000

• European sales help Tiffany sparkle

Microsoft to buy price comparison website

Microsoft is buying the parent company of Ciao.com, an online price comparison and product reviews site, as it seeks to improve its European search offering to compete with Google

Merrill losses wipe away longtime profits

Merrill Lynch’s losses in the past 18 months amount to about a quarter of the profits it has made in its 36 years as a listed company, according to Financial Times research that highlights the extent of the global banking crisis

Gulf storm shuts US oil and gas production

The US oil and gas industry began to shut down production in the Gulf of Mexico after forecasters predicted that tropical storm Gustav would be a hurricane when it hit the region

Zoom grounds transatlantic jet fleet

Zoom Airlines, the low-cost carrier operating between North America and Europe, sought protection from creditors in Canada and the UK after several of its aircraft were detained for non-payment of leasing and other fees

Fannie Mae shakes up top ranks

Fannie Mae, the US government-sponsored mortgage financier, unveiled a management restructuring that put new executives in charge of its plan to improve capital management and cut credit losses

US stocks higher on economic data

US stocks rose as investors took heart from better-than-expected data on durable goods orders, in spite of a rise in oil prices as a result of concerns that tropical storm Gustav could disrupt supplies

Latest Microsoft browser challenges Google

Microsoft released a web browser that includes a feature that could affect the advertising model of internet rivals such as Google