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NEW YORK – World oil prices jumped Thursday on the back of a weaker dollar and positive European data.

New Yorks main contract, light sweet crude for delivery in September, climbed $1.37 to $78.36 a barrel, its first gain in five sessions.

Londons Brent North Sea crude for September gained $1.53 to $77.59 per barrel.

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NEW YORK – Americans confidence in the economy eroded further in July amid worries about a job market that has proven stubbornly stagnant. The report raised concerns about the overall economy and the back-to-school season.

The Conference Board, a private research group, said Tuesday that its Consumer Confidence Index slipped to 50.4 in July, down from the revised 54.3 in June. Economists surveyed by Thomson Reuters expected 51.0. The decline follows last months nearly 10-point drop, from 62.7 in May, which marked the biggest since February, when the measure also fell 10 points.

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NEW YORK – Oil prices tumbled Tuesday as sentiment was dampened by deteriorating consumer confidence in the United States, a key energy consuming nation.

New Yorks main contract, light sweet crude for delivery in September, slipped $1.48 to $77.50.

Londons Brent North Sea crude for September lost $1.37 to $76.13.

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NEW YORK – International banks and financial companies in Germany, Spain, Ireland, Britain and Hong Kong were indirect beneficiaries of the US governments 2008 bailout of American International Group Inc., according to newly released documents.

The documents released by Sen. Chuck Grassley contain a list of the 27 banks, hedge funds and financial companies that received $4.3 billion from Goldman Sachs Group Inc.

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NEW YORK – Seven banks were seized in seven US states, marking the second year in a row in which at least 100 lenders have collapsed.

Banks with total deposits of about $2 billion were shut down yesterday, according to statements on the Federal Deposit Insurance Corp. website. The failures cost the FDICs deposit- insurance fund $431 million. The US bank-failure count this year rose to 103.

Iberiabank Corp., based in Lafayette, Louisiana, acquired Lantana, Florida-based Sterling Bank in its fifth FDIC-assisted transaction. Iberiabank picks up six branches and about $372 million in deposits.

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JEDDAH – Gulf stock markets ended the week mixed as investors continued to come under psychological pressure from global markets and indecisive indicators of world recovery.

However, the markets were expected to rebound next week in response to gains scored by Wall Street and European bourses on Thursday and Friday following reports of strong earnings by US and European businesses and the record jump in German business sentiment.

Regional markets were forecast to retain their psychological linkage with global markets for some time to come.

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NEW YORK – General Electric said Friday that it is raising its quarterly dividend by 2 cents because of its improving financial performance, the first increase since it deeply slashed payments to shareholders last year to save cash.

The company also said it would start buying its own shares again.

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WASHINGTON – Economic growth in the six-nation Gulf region is strengthening but a major risk to the outlook is that oil prices remain low for a protracted period, the International Monetary Fund said on Wednesday.

In an updated report on Gulf Cooperation Council (GCC) member states the IMF urged countries to prepare exit strategies from the current high spending levels but not to implement them until economic conditions were right.

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NEW YORK – A gauge of future economic activity dropped in June, the second decline in past 3 months, suggesting the US economic recovery will weaken.

The Conference Board, a private research group, said Thursday its index of leading economic indicators fell 0.2 percent last month. Economists polled by Thomson Reuters had expected a drop of 0.3 percent.

The index was revised higher to a 0.5 percent increase in May from the initial report of a 0.4 percent gain. The April report was revised to a 0.1 percent drop from a prior estimate of no change.

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BAGHDAD/NEW YORK – BP Plc and partners Chinas CNPC and Iraqs South Oil Co. expect to issue tenders to drill 40-50 new wells in the supergiant Rumaila oilfield this year and “about the same” next year, a company official said.

The executive, speaking in Baghdad on Monday, said the tenders for next years well contracts were expected to be issued and awarded at some stage this year.

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