EU set for groundbreaking vote on GM food February 11, 2014 European ministers are on the cusp of deciding whether to allow the cultivation of a new form of genetically modified (GM) maize in the EU. Pioneer 1507 is a type of maize developed by DuPont and Dow chemical that is able to resist moths, such as the European corn borer and has already been approved [...]
Glencore enjoys surge in copper production as zinc and lead disappoint February 11, 2014 Mining giant Glencore has reported a surge in copper production of 26 per cent to 1.5m tonnes, while coal output rose four per cent in the year to 31 December. The strong performance of copper and coal helped offset weaker results from zinc and lead. Zinc output fell by nine per cent while lead suffered [...]
Thomas Cook revenues fall as low winter demand takes its toll February 11, 2014 Travel group Thomas Cook has reported a fall in revenue of 0.9 per cent or £15m to £1.6bn for the three months ended 31 December. The first quarter is typically the weakest for the travel company, which attributed the decline in revenue to lower demand for winter holidays to Egypt. The company reported a smaller [...]
Asian markets strengthen in countdown to Yellen testimony February 11, 2014 Asian shares are enjoying minor gains while gold prices have hit a three-month high, as markets wait to hear the new head of the Federal Reserve Janet Yellen's testimony before Congress. Markets are hoping Yellen will confirm that US interest rates will remain low and the Fed will give further detail regarding tapering. The yen [...]
Rising prices see Brits working three more days a year February 10, 2014 On average people are having to work three more days a year to pay for essential items such as gas, water and electricity compared to 2010, according to research carried out exclusively for ITV News. In 2013, the rising cost of utilities meant the average UK employee had to work for 20.1 days (based on [...]
Dubai launches drone delivery fleet February 10, 2014 The government of Dubai is leading the way in the use of drones to deliver essential items, according to reports from Sky News. The United Arab Emirates (UAE) is planning to use the drones as part of a programme to improve government services. The four-rotor unmanned aerial vehicles are will use fingerprint and retina identification [...]
More than a third of Brits are failing to save for retirement as pensions crisis looms February 10, 2014 More than a third of Britons say they have no plans to save for their retirement, according to research conducted by information company Nielsen. The 37 per cent of UK consumers who are making no contingency for their old age far outstrips the 22 per cent of people globally who are failing to save for [...]
Centrica shares take a beating in wake of Davey’s attack. Here’s what you need to know February 10, 2014 Energy giant Centrica has become the biggest faller on the FTSE 100 in the wake of energy secretary Ed Davey's letter to regulators, urging them to investigate the profit margins of the big six energy companies. Shares in Centrica, which owns British Gas, have fallen by as much as three per cent this morning. Davey's [...]
Insurer Catlin profits jump despite softening market February 10, 2014 Insurance group Catlin has reported a surge in profit before tax of 27 per cent to $432m (£263m) for the year ended 31 December. Common stock holders also saw net income jump 29 per cent to $392m. The company enjoyed a record net underwriting contribution of $1bn. However, total investment return fell to 1.5 per [...]
Asian markets rise but Japanese confidence hits 14-month low February 10, 2014 Asian markets have so far made modest gains after Wall Street kept its cool in the wake of a poorer-than-expected jobs report. However, investors remained cautious owing to significant event risk in the near future. Confidence amongst Japanese households also fell for a second successive month in January, according to figures released by the Cabinet [...]
