The International Monetary Fund warns of a possible 20-30% spike in oil prices if Iranian exports are disrupted.(read article…)

US President Barack Obama begins a three-day tour to highlight his economic agenda , visiting five states seen as vital to his re-election bid.(read article…)

The US Justice Department files a proposed settlement with India’s biggest drugmaker, Ranbaxy Laboratories, in a federal court in Maryland.(read article…)

US coffee chain Starbucks posts a 10% rise in net profits for the three months to 1 January 2012, benefiting from new stores and new products.(read article…)

US phone network AT&T reports a $6.7bn (£4.3bn) net loss for the three months to the end of December 2011.(read article…)