Tea market strained as output falls
The price of tea has jumped to a 2½-year high as poor crops in some of the world’s most important producers strain supplies.
Dry conditions, poor rains and frosts have hit tea production in Kenya, the largest exporter of black tea. A bad monsoon has reduced production prospects in India and Sri Lanka, two other major exporters.
Advanced energy plant in Teesside
The world’s largest renewable energy plant, which will use advanced gasification technology to produce energy from waste, is to be built near Billingham in Teesside. Air Products, the developer and operator of the plant, confirmed the $500m project yesterday.
Yields on US junk debt hit new lows
Demand for US junk-rated debt has propelled yields towards new lows, as investors seeking returns in a low-interest rate environment have been attracted by a record number of deals so far this month. The Barclays High Yield index has dropped to 6.63 per cent, just two basis points shy of its all-time low of 6.61 per cent set in May 2011.
Missing monsoon to drive up prices
The weakest monsoon for years and a worsening drought in India is fuelling fresh concerns about a surge in global food prices. Delhi announced last week that the country was facing a drought.
Alzheimer’s treatment hopes hit
The jab, called bapineuzumab, was abandoned yesterday by the Irish business Elan and its American partners, Pfizer and Johnson & Johnson, after it failed to slow the march of dementia.
The Daily Telegraph
Cameron to push ahead with boundary reform
David Cameron has pledged to push ahead with reforms to parliamentary boundaries without Nick Clegg's support, setting up a bitter clash with the Lib Dems.
Global slump risk falls as world money rebounds
The first green shoots have begun to emerge in money supply data from across the world, raising hopes of a tentative global recovery next year.
THE WALL STREET JOURNAL
Romney attacks Obama over welfare reform
Escalating an attack on his rival for the White House, Mitt Romney yesterday accused President Barack Obama of gutting welfare's work requirement.
DreamWorks to challenge rival Disney in Shanghai
DreamWorks's plan to lend its name to a $3.1bn entertainment district in Shanghai pushes the Southern California movie studio further into the Chinese market.