Robert Miller with the latest City and business news on OPEC’s hold over oil prices; a nervous day for Europe's markets, as traders digest a fall in UK retail sales and a further drop in house prices; Inflation makes a rate rise more likely in India and China but still a hold by the Bank of England's Monetary Policy Committee; Governor Mervyn King's Daily Telegraph interview on banks continues to cause shock waves and engineer Weir Group powers ahead with a 60pc rise in annual pre-tax profit to £295m.