US crude oil output to hit 7.9m barrels a day next year January 9, 2013 US crude oil production is expected to rise to 7.9m barrels a day in 2014, marking the highest annual level of production since the late 1980s. According to the US Energy Information Administration’s Short-Term Energy Outlook, US domestic crude oil production will increase to 7.3m barrels a day this year, before rising to 7.9m barrels [...]
Centamin shrugs off Sukari woes as fourth quarter production hits record levels January 9, 2013 Despite a temporary closure of the Sukari mine in December, Egyptian miner Centamin this morning said gold output at its flagship asset jumped 45 per cent in the final quarter of last year. The FTSE 250 miner said that total gold production over the three months to December hit a record 85,543 ounces, a 45 [...]
Sales up at the Restaurant Group January 9, 2013 The Restaurant Group said its full-year turnover was up nine per cent year on year, as people eschewed high-end restaurants for more casual dining chains. The FTSE 250 company, which owns the Frankie & Benny’s, Garfunkel’s and Chiquito chains, said sales at stores open longer than a year were up 4.5 per cent over the [...]
Sainsbury’s unveils rise in Christmas sales January 9, 2013 Sainsbury’s saw a record number of customers over the Christmas period, as it reported a small rise in sales over its third quarter. In a trading statement this morning, the supermarket posted an increase of 3.9 per cent in total sales over the 14 weeks to 5 January, while sales at stores open longer than [...]
The Eurozone is not working January 8, 2013 Monday: EU boss says threat to euro has been overcome Yesterday: Joblessness in single currency area hits record UNEMPLOYMENT hit a record high and retail sales slumped towards the end of last year as the Eurozone’s economic tragedy plumbed new depths, official figures showed yesterday – despite top Brussels politicians insisting the crisis has been [...]
Benefit rises capped as coalition regulates pubs January 8, 2013 THE SECOND half of the coalition’s parliament got off to a busy start yesterday, as the government pushed through a one per cent cap on increases to most working-age welfare payments, as well as setting out its stall for the new year with plans to speed-up large infrastructure projects and regulate the pub industry. The coalition won [...]
Vested interests will fight to block necessary spending cuts January 8, 2013 GIVEN the fury surrounding the welfare debate in Parliament yesterday, you would be forgiven for believing that this was about a major downsizing of the welfare state. In reality, the coalition will be capping the increase in most working age benefits to 1 per cent for the next three years, ensuring a real terms cut [...]
Tory business minister quits government January 8, 2013 BUSINESS minister Lord Marland, the Conservative peer, yesterday resigned from government – the second minister to quit the coalition in as many days. His resignation is a major blow for Prime Minister David Cameron, who on Monday announced a high profile relaunch of coalition policy – the same day Lord Strathclyde resigned from his cabinet [...]
Cheap iPhone in the works January 8, 2013 A CHEAPER, lower-end iPhone could reportedly go on sale as early as this year, as Apple looks to expand its market share in the face of increasing competition. The company is working on a device that would look the same as current models, but with a less-expensive, plastic body that could appeal to those unwilling [...]
Lords add to quota critics January 8, 2013 THE EU would be making a mistake if it made member states hit firms with sanctions based on the gender make-up of their boardrooms, a Lords sub-committee decided yesterday. Baroness O’Cathain, who chairs the Lords Internal Market, Infrastructure and Employment sub-committee, said member countries were better placed than the European Commission to decide appropriate gender [...]
