Show Hide image

Evening wrap up: today's late breaking business stories

Top stories from around the web.

European Commission raids oil groups over price benchmarks (FT)

European regulators are investigating oil companies including Royal Dutch Shell, BP and Statoil of Norway, as part of a probe into the way that oil price benchmarks are set.

Platts, the world’s leading price reporting agency, is also among those investigated.

The European Commission in Brussels said in a statement that raids had occurred on Tuesday in the offices of “several companies” in two EU countries and another country. It did not identify the firms or the countries involved.

Amazon hit by German strike action (FT)

Amazon employees in Germany have gone on strike in what is believed to be one of the first such stoppages to hit the US internet retailer.

About 850 workers at warehouses in two German cities had joined the stoppage, due to last for one working day, by lunchtime on Tuesday, with union representatives saying more would strike when a later shift at the facilities was due to begin.

US shale oil supply shock shifts global power balance (BBC)

A steeper-than-expected rise in US shale oil reserves is about to change the global balance of power between new and existing producers, a report says.

Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA).

Workplace whistle-blowers 'ignored', survey suggests (BBC)

Some 60% of whistle-blowers who voice fears about their workplace receive no response from their managers, a survey suggests.

The charity Public Concern at Work also said that of 1,000 whistle-blowers it questioned, 19% were disciplined or demoted after speaking up.

RBS warns of more jobs cut and branch closures (Telegraph)

Royal Bank of Scotland will need to make further job cuts and branch closures as part of the continued turnaround of the taxpayer-backed lender, according to its chairman Sir Philip Hampton.