Concerns over Chinese slowdown after imports from Japan slump by a fifth February 20, 2012 JAPAN logged a record trade deficit with China in January as exports dropped by a fifth, underscoring concerns about how sharply China is slowing and its ability to buffer a frail global economy against European turmoil. The 20.1 per cent annual slump in exports to China, Japan’s main export market, condemned Tokyo to a record [...]
Government to pay firms and charities to get jobless teenagers back on track February 20, 2012 THE GOVERNMENT is to pay companies and charities to improve prospects for young unemployed people, deputy PM Nick Clegg will announce today. Firms will be able to bid for contracts worth up to £2,200 for every young person that they provide with skills for the jobs market. The £126m of state funds will be targeted [...]
Thailand GDP decimated by 2011’s heavy flooding February 20, 2012 THAILAND’s economy crashed in the final quarter of last year, with fresh data revealing a contraction of 10.7 per cent compared to the previous three months. Devastating floods caused the economy to plummet by more than “in either the 2008-09 global crisis or the Asian financial crisis of the late-1990s”, Capital Economics said yesterday. Capital [...]
Half of the UK either cut or quit saving last year February 20, 2012 THE ECONOMIC squeeze on households caused nearly half of UK adults to reduce or cut their savings over the past year, new research claims. A survey from the Money Supermarket website showed that the main reason for reducing saving activity was to fund everyday life. Of those who have reduced savings, 18 per cent cited [...]
CITY VIEWS: HOW WORRIED ARE YOU ABOUT THE IRANIAN NUCLEAR THREAT? February 20, 2012 GEORGE LYLE | ECS “To be honest I haven’t thought about it very much. Obviously it’s a concern as I’ve read about it and seen it on the news, but the question is how much of what we hear is the truth?” ZE LIM | LINKLATERS “I’m not too worried yet. There are lots of [...]
Rio Tinto aims for driverless trains growth February 20, 2012 MINER Rio Tinto yesterday unveiled a $518m (£327m) plan to pioneer the use of driverless trains in Australia in a bid to ramp up its production. The company, which already has driverless trucks, plans to run fully automated trains across its 1,500 km (930 mile) iron-ore rail network in north west Australia from 2014, to [...]
Kingfisher summoned to explain scrapped flights February 20, 2012 AVIATION chiefs in India yesterday summoned executives from struggling airline Kingfisher to explain a string of flight cancellations. The directorate general of civil aviation wants answers after 32 out of the 240 flights that Kingfisher operates each day were cancelled over the weekend. Loss-making Kingfisher has been denied financial assistance from the Indian government and [...]
Roche gets nod for skin cancer drug February 20, 2012 PHARMACEUTICALS giant Roche said yesterday that the European Union had approved Zelboraf, which represents a new treatment option for patients with the deadliest form of skin cancer. The go-ahead, expected by investors after Roche flagged it as recently as December, follows one in the United States last August. The new drug is given as a [...]
Kier wins £100m contract for EDF nuclear power plant groundwork February 20, 2012 BRITISH construction group Kier has won a £100m contract from France’s EDF to prepare the ground for construction of a new nuclear power station in the west of England. Kier said in a statement that the contract to carry out site works for the Hinkley Point C nuclear power station, which is due to provide [...]
International Ferro loses less February 20, 2012 South Africa’s International Ferro Metals yesterday said it had narrowed its losses in the final six months of 2011. The net loss after taxation dropped from Zar107,000 (£8,700) in 2010 to Zar92,000. But the Aim-listed company reported production of ferrochrome down 15 per cent over the period. Chief executive Chris Jordaan said: “The combination of [...]
