Mediterranean Oil (MOG) has doubled the estimate of reserves at its Ombrina Mare field to 40m barrels, consisting of 12m proved and 28m probable.

Boots and Mothercare have formed a strategic partnership to design, source and supply a new children's clothing and accessories brand to be sold exclusively through Boots stores in the UK and Ireland.

John Varley, the chief executive of Barclays, said President Obama's measures to prevent banks from engaging in high risk trading activities are 'completely irrelevant' to the British bank and would not hit its profits.