Sterling is stuck in the middle of a tug of war January 4, 2011 WITH higher rail fares, energy bills and from yesterday, VAT, 2011 is so far not looking like a very happy New Year for many British consumers. But despite the higher costs, they can at least take solace from the fact that the economy does seem to be recovering fairly remarkably. And the pound seems to [...]
UK wheat prices hit record high January 4, 2011 The cost of UK wheat hit a nominal record high in the London market yesterday at £203.30 per tonne, up 90 per cent over the past year and above the previous peak of £197.50 a tonne set in September 2007. Prices have been underpinned by tightening world supplies as floods disrupted exports from Australia, compounding [...]
Snow blamed for German jobs drop January 4, 2011 German unemployment edged up very slightly last month, rising by 3,000 on November. Unemployment had fallen in November and October, as the German recovery continued to build up pace. And employment reached almost 40.5m in November, according to ILO statistics. Economists had expected a further fall in unemployment for December. “The monthly rise in unemployment [...]
Singapore: manufacturing boost January 4, 2011 New data yesterday showed ongoing growth in Singapore’s manufacturing sector as a purchasing managers’ index (PMI) reading remained above the 50 “no change” point. Meanwhile, Asian manufacturing also received a new year boost as in both South Korea and Taiwan the sector moved from contraction to growth, jumping above the 50 “no change” mark. And [...]
Easyjet order flies against Stelios ideas January 4, 2011 BUDGET airline easyJet yesterday purchased 15 new Airbus A320 aircraft, as well as buying options for 33 additional jets. The order comes despite warnings from the airline’s founder and largest shareholder, Sir Stelios Haji-Ioannou, who recently expressed concern over easyJet’s expansion plans. The Athens-born entrepreneur pressed the firm over its intentions to purchase additional aircraft [...]
Three Forex questions to ask for 2011 January 4, 2011 DIRECTOR OF CURRENCY RESEARCH, GFT THE THREAT OF EURO FRACTURE As 2011 began, Estonia became the 17th country to join the Eurozone but sceptics still insist its days are numbered. Just as in 2010, the sovereign debt issue will haunt the currency while credit markets will be the primary catalyst of the FX trade. The [...]
Value of private investor shares surges to highest level since before downturn January 4, 2011 A SURGE in private investor-owned shares has seen them end 2010 at the highest level since the recession began. UK private equity holdings ended December at £207bn, recording the strongest performance since May 2008, according to research from Capita Registrars. The figure jumped from £194bn at the end of November to break the £200bn mark [...]
Yell saves £3m with payment January 4, 2011 DIRECTORIES group Yell yesterday made a £150m early repayment of its senior bank debt. The repayment saves the firm around £3m of interest and leaves it with £66m to repay by May under a debt restructuring agreement made last year. Shares in the company closed 1.7 per cent higher at 14.75p as it looked likely [...]
Airline should continue its expansion January 4, 2011 EASYJET’S decision to convert options on 15 aircraft is good news for the company. Passenger numbers are still growing, up 8.2 per cent in November, while budget airlines are stealing market share from full-service carriers, helped by a cabin crew dispute at British Airways. But the 15 orders represent less than a fifth (17 per [...]
FX NEWS January 4, 2011 BRAZIL TO DISCUSS YUAN WITH CHINA Brazilian president Dilma Rousseff will prioritise discussions with China over its currency and trade policies, according to the country’s trade minister Fernando Pimentel. Discussions are expected to occur when the Bric countries meet in April. Pimentel also said that Brazil may consider increasing policies to stem further appreciation of [...]
