President Obama rules out short term extension to America’s debt ceiling July 11, 2011 AMERICAN President Barack Obama will refuse to sign a temporary extension of the US debt ceiling, he said yesterday, insisting that Republicans and Democrats must come to a long-term agreement this month. “We should use this opportunity to do something meaningful on debt and deficits,” Obama said at a press conference in Washington DC. “We’re [...]
High street sales bounce back in June yet British retailers remain cautious July 11, 2011 TOTAL retail sales improved by 1.5 per cent in the year to June, according to figures released by the British Retail Consortium (BRC) today. While food sales slowed slightly, this was offset by increased non-food sales, attributed to the summer clearance sales beginning earlier this year. Like-for-like sales – which exclude changes in shop floor [...]
Exports in construction tools rise July 11, 2011 Exports are providing a vital lifeline for manufacturers of construction products, according to a survey released yesterday. The number of producers exporting constriction products rose by 18 per cent in the first three months of the year, the Construction Products Association said. Yet inflation is severely hitting the industry, with 95 per cent of firms [...]
French industry rebounds in May July 11, 2011 French industrial production bounced back in May well above the expectations of economists, rising two per cent. In April prices had sunk by half a per cent. The official figures, released yesterday, also showed that manufacturing output rose by 1.5 per cent in May.
Price pressures tame in Norway July 11, 2011 Norwegian inflation came out well below expectations yesterday, measuring 1.3 per cent on the consumer price index for June. Core inflation, which excludes volatile elements such as energy and food, measured just 0.7 per cent.
Turkey’s trade deficit widens July 11, 2011 Turkish assets weakened yesterday as data showed May’s current account deficit rising 164 per cent to $7.75bn, slightly undershooting a forecast but serving as a reminder of Turkey’s deep external imbalances.
Aegis snaps up MediaVest in £95m deal July 11, 2011 LONDON-LISTED marketing group Aegis has bought media planning and buying agency MediaVest, in a deal valued at about £95m. The communications firm has acquired 75 per cent of the company and has an option to buy the remaining 25 per cent it does not own from 2016. Aegis paid an initial £27m, which gives consideration [...]
Passengers flock to Heathrow July 11, 2011 HEATHROW enjoyed its third consecutive month of record passenger numbers in June – but freight volumes were hit by the fragile economic recovery. Airport operator BAA said 6.1m passengers travelled through Heathrow in June, a 6.3 per cent increase on the same month last year. The figures represented the highest number of passengers for the [...]
Computer games industry calls for tax relief to halt exodus of talent from UK July 11, 2011 BRITAIN’S computer games industry has called for a tax break to prevent the so-called brain drain that has seen 20 per cent of UK companies lose staff to jobs overseas in the last 12 months. TIGA, the trade association representing the UK video games industry, yesterday warned that large-scale emigration of skilled and experienced staff [...]
Bayfield Energy raises £54m through UK listing July 11, 2011 BAYFIELD Energy, the Caribbean oil-explorer founded by former Burren Energy executives, has completed its initial public offering on London’s alternative investment market (AIM), raising £54m. The group placed 90m shares at 60p each on AIM yesterday, and will be valued at around £130m when existing shares are included. The oil and gas explorer has key [...]
