Industrial pressures could see ECB postpone interest rate cut October 2, 2012 EUROZONE industrial inflation shot up in August, data released by Eurostat yesterday showed. This jump could endanger European Central Bank (ECB) easing plans, analysts suggested. Howard Archer at IHS Global Insight sent out a note entitled: “Sharp rise in Eurozone producer prices in August tilts odds further against ECB interest rate cut on Thursday.” But he [...]
Wealthy property investors see London as favourite location October 2, 2012 INTERNATIONAL residential property investors are honing in on London, their favourite destination for investment, a survey from Cluttons revealed today. Fifty-seven per cent of respondents told Cluttons that London was their top investment target location – especially investors located in Dubai, Bahrain, Kuala Lumpur and Singapore. And investors are looking to get into property markets, [...]
Australia eases monetary stance October 2, 2012 Australia’s central bank yesterday slashed interest rates down to a three-year low, as worldwide slowdown hit the Australian economic climate. Rates were cut 25 basis points to 3.25 per cent, which drove the Australian dollar down half a US cent, as markets had not fully priced in the movement. Australian central bank governor Glenn Stevens [...]
DSK rape investigation dropped October 2, 2012 French public prosecutors have shelved an investigation into allegations that disgraced former IMF chief Dominique Strauss-Kahn, a man once tipped to become president of France, had engaged in group rape. In a statement yesterday, the prosecution service said it acted after a young woman retracted an allegation against the 63-year-old, who is also fighting wider [...]
Red tape is top issue for finance October 2, 2012 Regulatory change is the biggest issue facing firms in the financial sector, ahead of the Eurozone crisis and global economic uncertainty, data from the Economist Intelligence Unit and Lloyds TSB revealed yesterday. Some 68 per cent of financial sector respondents to the survey put red tape changes as their biggest worry – versus 62 per [...]
A Twitter storm in a teacup for Waitrose October 2, 2012 LAST week was Social Media Week, an international meeting of minds where media types got together (online and offline) to discuss using social media data. An example of a company that should have taken a harder look before it leapt into the deep end of the social media pool was Waitrose, whose #Waitrosereasons Twitter campaign [...]
Glencore buys stake in grain hub October 2, 2012 Commodities giant Glencore has bought an interest in a deep sea grain export terminal in Russia. It has entered into a 50-50 joint venture agreement with Ukraine’s Kernel to buy the interest from EFKO Group. Taman, on Russia’s Black Sea coast, is close to Russia’s main grain producing region, and Glencore said the acquisition will [...]
Amplats says mine strike worsens October 2, 2012 Anglo American Platinum warned yesterday that security had worsened at its strike-hit South African mines as several thousand gold miners rallied over pay in the dispute-plagued industry. Amplats told workers not to show up to the Rustenburg mine yesterday as strike action became more fractious, but said operations will resume today.
Kalimantan regains control of Jelai October 2, 2012 Kalimantan Gold yesterday said it regained control of the Jelai Gold project in East Kalimantan Indonesia from Tigers Realm Metals (TRM). In a six month drill test, in which it drilled 12 holes to define an initial gold resource, TRM did not achieve the results it expected, and has turned whole ownership of the Jelai [...]
Labrador Iron Mines raises C$30m October 2, 2012 Anglesey Mining’s 26 per cent-owned Labrador Iron Mines is to raise C$30m (£18m) through a share placing. It plans to issue 30m shares at $1 each. The Canadian miner said the proceeds will be used for working capital and general corporate purposes. The placing is expected to finish on 25 October. LIM, an iron ore [...]
