Glencore to trade in London from 24 May April 7, 2011 Shares of global commodities trader Glencore International are set to start trading in London on May 24 and in Hong Kong on May 25, the Ming Pao newspaper reported. Glencore was expected to kick off its initial public offering in Hong Kong on May 13, the newspaper reported, citing market sources. The global commodities trader [...]
UK industrial output stalls April 6, 2011 British industrial output suffered a shock fall in February after a big monthly decline in oil and gas extraction due to maintenance work, official data showed. The figures point to a less strong rebound in broader economic output during the first three months of 2011, which may discourage the Bank of England from raising interest [...]
Shop price inflation eases April 6, 2011 Shop price inflation slowed in March as grocers offered discounts on food, a survey showed, providing some relief to consumers hard-pressed by rising taxes and higher fuel prices. Prices on the high street were still up 2.4 per cent from a year ago, but inflation eased from February’s 27-month high of 2.7 per cent, the [...]
EasyJet passenger numbers rise April 6, 2011 EasyJet carried almost 12 per cent more passengers in March than the same month last year. The airline flew 4.4m people in the month, up from 3.9m a year earlier. But the passenger load factor – which is based on how full aircatf are – dropped from 87.5 per cent to 86.9 per cent, reflecting route [...]
Misys revenue on the climb April 6, 2011 Software firm Misys posted a seven per cent rise in third-quarter revenue, its strongest performance in the year to date, as its products serving banks and financial markets won new customers. Misys, which focuses on banking and treasury and capital market software after it sold most of its stake in its Allscripts-Misys joint venture, said [...]
M&S sales in slim rise thanks to food April 6, 2011 Marks and Spencer sales were up slightly as rising food sales offset falls in other categories, it said in a trading statement. Its like-for-like sales rose 0.1 per cent in the 13 weeks to 2 April. General merchandise fell 3.9 per cent, but that was cancelled out by a 3.4 per cent rise in food [...]
France leads calls for action on commodities April 5, 2011 Russia and France, the current holder of the presidency of the Group of 20 nations, have called for coordinated international action to curb volatility on global commodities markets. “Sharp fluctuations in raw materials prices destabilise markets and require coordinated measures to be taken at an international level,” the Russian Finance Ministry said after its head, [...]
China raises interest rate April 5, 2011 China’s central bank raised interest rates for the second time this year Tuesday, redoubling efforts to cool stubborn price pressures. Inflation has been running within striking distance of a 28-month high of 5.1 per cent hit in November and is expected to rise further in coming months. Benchmark one-year deposit rates will be lifted by [...]
Service sector bounces back April 5, 2011 The service sector activity jumped unexpectedly in March to show its fastest pace of growth in over a year. The Markit/CIPS services PMI index, a measure of activity growth as reported by purchasing managers, surged to a 13-month high of 57.1 in March from an unrevised 52.6 in February, beating even the most optimistic analyst’s [...]
Moody’s cuts Portugal rating April 5, 2011 Credit rating agency Moody’s cut Portugal’s sovereign debt by one notch, saying it believed an incoming government would need to seek financing support from the European Union as a matter of urgency. The cut in Portugal’s long-term rating to Baa1 from A3 still leaves Moody’s evaluation of its debt two notches higher than fellow agency [...]
