Oil prices surged Monday to build on last week's rally as the dollar clawed back losses following concerns over gridlock in Washington and renewed tensions on the Korean peninsula.  

Both main crude contracts made strong gains, with WTI testing $50 a barrel for the first time since late May and Brent heading towards $53, while mining giants BHP Billiton and Rio Tinto saw their share price rise as commodities strengthened.

HSBC said profits were up Monday in the first half of the year in what it called an "excellent" result after a turbulent 2016.

U.S. coffee chain Starbucks has announced it will take full control of its mainland China outlets in a $1.3 billion deal, the largest single acquisition in the company's history.

Volkswagen and U.S. environmental regulators announced agreement Thursday on a plan for the German automaker to fix most of the diesel cars involved in an emissions cheating scandal.

The company said the Environmental Protection Agency and the California Air Resources Board have approved the program, which involves about 326,000 VW cars sold between 2009 and 2014. That's the first generation of the "Clean Diesel" cars with 2.0 liter TDI engines, including the Jetta, Golf, Beetle and Audi A3.

Swiss banking giant UBS Friday posted higher profits for the second quarter as improved investor confidence led to growth in its wealth management units.

Net profit for the period was up 14 percent at 1.17 billion Swiss francs (1.03 billion euros, $1.21 billion).

Moroccan police have arrested a British dealer in virtual currency Bitcoin wanted on fraud charges in the United States, a source close to the investigation told AFP on Thursday.

Abu Dhabi's Etihad Airways said Thursday it posted a $1.87 billion loss last year, hit by "one-off" impairments on aircraft and investments in troubled Alitalia and airberlin.

The government-owned carrier said total impairments amounted to $1.9 billion, including a $1.06 billion "charge on aircraft, reflecting lower market values and the early phase out of certain aircraft types."

Authorities in the United Arab Emirates have banned a leading business website and magazine for one month for allegedly publishing "false news" on failed real estate projects in Dubai.

Hala Gamal looks at a pile of rubble on Cairo's Warraq island -- all that's left of her house after a police operation to evict residents accused of squatting on state land.

German car manufacturer BMW on Tuesday said it would build an all-electric version of its Mini in Britain, a move hailed by the country's government as it negotiates Brexit.