Factory gate inflation eases April 13, 2012 Factory gate inflation eased to a two-year low in March, official data showed on Friday, supporting hopes that price pressures are falling back as the Bank of England predicts. However, output and input price inflation slowed less than analysts had forecast, highlighting the risks to the central bank’s prediction that consumer price inflation will fall [...]
Paperwork on Glencore deal for Xstrata is delayed April 13, 2012 Documentation relating to commodities trader Glencore’s agreed $37bn bid for miner Xstrata will be sent to shareholders later than p previously anticipated, the companies said in a statement. Paperwork relating to the merger is now anticipated to be distributed to each company’s shareholders by the end of May 2012 instead of in April as originally [...]
John Lewis reports “stunning” Easter week April 13, 2012 Britain’s biggest department store chain John Lewis said it enjoyed a “stunning” week’s trade in the seven days to Easter Saturday as poor weather made shopping an attractive pursuit. The employee-owned retailer said on Friday its sales jumped 27.5 per cent year-on-year to £66.7m in the week to 7 April. “In comparison with the Good [...]
China growth rate drops in first quarter April 13, 2012 China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 per cent in the previous three months.
CHARITY RAID SET TO COST BILLIONS April 12, 2012 GEORGE Osborne’s plan to cap tax relief on charitable donations will cost good causes billions of pounds, the City warned last night, as a series of senior MPs fed a growing political revolt. Investment manager Brewin Dolphin and accounting firm Baker Tilly spoke out against the proposal while business secretary Vince Cable said he was [...]
Google plots share split as profits surge April 12, 2012 INTERNET giant Google last night announced a two-for-one stock split to ensure co-founders Larry Page and Sergey Brin retain control over the company. Investors will receive one share of new stock for each existing Google share that they own. The new stock will be listed on Nasdaq under a separate ticker and will have no [...]
OECD predicts decades of austerity lie ahead for UK April 12, 2012 THE UK faces decades of more austerity in order to bring its spiralling debt under control and offset any impact on growth, influential think tank the Organisation for Economic Cooperation and Development (OECD) has warned. The Paris-based group calculates annual spending cuts and tax rises amounting to eight per cent of GDP a year – [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 12, 2012 FINANCIAL TIMES EU seeks new curbs on bonuses Bankers’ bonuses across Europe would be capped at no more than their fixed salaries under strict new curbs sought by senior lawmakers in response to continued public anger over financial sector pay. EU parliamentarians are drawing up new caps on bonuses to be included in the latest [...]
Investor fears force Italian debt yields up April 12, 2012 ITALIAN bank stocks dropped sharply yesterday after renewed worries about the government’s ability to pay its debts pushed up state borrowing costs. Greece’s economic nightmare continued as official data showed unemployment increased to a record high of 21.8 per cent in January, and youth unemployment hit 50.8 per cent. Meanwhile UBS analysts warned that the [...]
North Korea launches rocket April 12, 2012 North Korea launched a rocket late last night, although it is believed to have crashed into the sea. The launch, which took place at 11.39pm UK time, was officially to carry a weather satellite but has drawn international criticism and sabotaged a food aid deal with the United States. Critics say the Unha-3 rocket would [...]