PepsiCo eyes Russia for growth December 2, 2010 PEPSICO said yesterday it will buy a majority stake in Russian juice and dairy company Wimm-Bill-Dann (WBD) for an initial deal price of $3.8bn (£2.43bn) in its most ambitious overseas purchase to date. The deal will make PepsiCo Russia’s largest food and drink maker. PepsiCo plans to buy 66 per cent of the firm. However, [...]
Desire Petroleum shares leap over Falklands strike December 2, 2010 SHARES in Desire Petroleum yesterday soared after the explorer said it had struck oil in the Falkland Islands and was testing to see if the find was commercially viable. The firm’s stock closed up 26 per cent at 132.25p. News of this find comes after rival Rockhoppers also said it had found oil there earlier [...]
FTSE 100 surges on gains by commodities and financials December 2, 2010 BANKS and commodity stocks powered strong gains for Britain’s top share index by close yesterday, on increasing optimism about the global economy and investor confidence that the Eurozone debt crisis would be contained. The FTSE 100 index ended up 125.06 points, or 2.2 per cent, at 5,767.56, a second straight session of strong gains. It [...]
Construction projects still growing in UK December 2, 2010 BRITISH construction unexpectedly increased in November, it was revealed yesterday. In a boost for the economic recovery, construction increased to 51.8 in the Purchasing Managers Index (PMI), a measure of business activity. The index was up slightly, from 51.6 in October. All figures over 50 indicate growth in the sector. The rate of growth had [...]
Wall St rallies as euro concerns ease December 2, 2010 WALL Street rallied for a second day yesterday as concerns about Europe’s sovereign debt crisis waned, giving investors the chance to add to positions in winners among banks and retailers. More than two stocks rose for every decliner on the New York Stock Exchange, with bank stocks leading the way after Goldman Sachs said improving [...]
Car registrations up in key Eurozone areas December 2, 2010 NEW car registrations are up across core Eurozone countries, according to figures released yesterday by Barclays Capital Research. The group estimates that car sales across the single currency area could rise to 10.26m in November, a 4.3 per cent rise on October. French sales have maintained their momentum, in spite of a government scrappage scheme [...]
Growth steady in Europe but Greece still in decline December 2, 2010 THE Eurozone economy expanded by 0.4 per cent in the three months to September, it was revealed yesterday. The rate of growth slowed, down from one per cent in the previous quarter, said the European Commission’s Eurostat office. Yet household consumption also grew, creeping up by 0.3 per cent. Growth continued to be driven by [...]
Cross border transfers level out December 2, 2010 Foreign Direct Investment (FDI) is remaining flat as the year nears its end, after a long period of decline, according to the Organisation of Economic Co-operation and Development (OECD). The rate is still expected to fall this year, by around eight per cent, yet this is a significant improvement on the 43 per cent fall [...]
Stagnation for Brazilian industry December 2, 2010 Brazilian factory production rose in October, yet was significantly slower than the previous month, data released yesterday showed. Production rose by 2.1 per cent, yet economists had expected a rise of 2.5 per cent. September had seen a 6.3 per cent manufacturing rise for the emerging economy.
US home sales rise but jobless claims also up December 2, 2010 PENDING house sales surprisingly shot up in the US for October, according to data released yesterday. The Pending Home Sales Index (PHSI) showed that contracts exchanged on properties increased by 10.4 per cent compared to September, defying a predicted fall. The result comes as a boost for the housing market, after the index fell by [...]
