Spending watchdog hits out at the government’s green targets December 10, 2012 GOVERNMENT policy on green tax should be centred around the most efficient means to reduce pollution, not around “essentially arbitrary” targets, a prominent fiscal think tank said yesterday. In the Autumn Statement the chancellor announced plans to increase the total share of revenue coming from taxes whose primary purpose is to achieve green outcomes, between 2010-11 [...]
Chinese export growth disappoints December 10, 2012 Chinese export growth disappointed all expectations in November, throwing cold water on the chance it was on the way out of its slowdown. Chinese exports grew by only 2.9 per cent year-on-year in November, against expectations of nine per cent, and down from 11.6 per cent growth in October. It represents the worst performance since [...]
CFOs confident over next year December 10, 2012 Economic conditions will get better in the new year, according to a majority of UK chief financial officers. In a poll from American Express, 81 per cent out of 200 respondents from large British companies anticipate an increase in their turnover in 2013. Yet the same poll suggests that their optimism about British economy is [...]
Families get support for Christmas December 10, 2012 Nearly half of Britons will receive financial support as a Christmas presents this year, according to a poll from Scottish Widows. Forty-four per cent of the population will get some kind of financial support from their family, the survey said, while one out 10 will need financial support just to get through the holiday period. [...]
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AIG to sell lease firm to Chinese group at a loss December 10, 2012 AMERICAN International Group will sell nearly all of aircraft leasing business ILFC to a Chinese consortium for up to $4.8bn (£2.9bn), in a deal that gives the fastest growing aviation market easier and cheaper access to planes. But the sale is at a far cheaper price than AIG sought and will lead to a substantial [...]
ENRC plummets as it buys out Camrose from its Congo unit December 10, 2012 MINER Eurasian Natural Resources was the second-biggest blue-chip faller yesterday, falling 2.62 per cent, as it paid $550m (£343m) to tighten its control over its unit in the Congo. Kazakh ENRC said its subsidiary ENRC Congo had agreed to buy the 49.5 per cent of holding company Camrose Resources that it did not already own, [...]
Faroe Petroleum drills Rodriguez December 10, 2012 Oil and gas company Faroe Petroleum has started drilling at the Rodriguez exploration well in the Norwegian Sea, in which it has a 30 per cent interest. The well, which is on the Halten Terrace, is planned to be drilled about 4,040 metres and the drilling operations will last around 75 days. Chief executive Graham [...]
Coal of Africa shares drop 10pc December 10, 2012 Coal of Africa shares sank yesterday as it said that an environmental coalition had withdrawn from a Memorandum of Understanding with the company, signed last year to protect the Mapungubwe Cultural Landscape in South Africa. The news sent its shares down 10 per cent yesterday to close at 11.25p. Last week, the green coalition said [...]
Jubilant Energy revenue stable December 10, 2012 India and Myanmar-focused Jubilant Energy yesterday reported stable revenues of $8.6m (£5.4m) over the first half of the financial year, despite a five per cent fall in oil prices. The oil and gas explorer posted profit from operating activities of $2.2m, up sharply from a loss of $49,000 over the same period of last year. [...]
