After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
European shares lifted on the back of miners and drug firms January 24, 2011 EUROPEAN shares edged up yesterday, as heavyweight miners rose on strong metals prices and defensive drugmakers and tobacco firms gained on concerns over the impact of rising inflation on growth prospects. Gains, however, were kept in check by falls on the German DAX index, as sentiment was hit by data showing a drop in German [...]
Sarkozy calls for regulation January 24, 2011 WITH global food prices rising, French President Nicolas Sarkozy called for stronger regulation of commodity markets yesterday. His comments came on the eve of the Davos summit, as economists decide how best to respond to food inflation. The world risks food riots and weaker growth if leaders fail to act, Sarkozy told 300 diplomats and [...]
China records double-digit GDP growth January 20, 2011 CHINA’S economic boom shows few signs of abating, with growth for the fourth quarter of 2010 soaring past forecasts, it was revealed yesterday. And while inflation slowed in December it remains high enough for officials to tighten monetary policy, some economists have said. The Chinese economy expanded by 9.8 per cent year-on-year in the three [...]
Saving up your coppers in the vault January 20, 2011 IN JOSEPH HELLER’S modern classic, Catch 22, the entrepreneurial mess officer Milo Minderbinder seizes the opportunity to buy up the entire Egyptian cotton crop. The result is a disaster – Milo finds himself unable to sell the cotton to anyone. After trying to turn it into food, eventually he unloads it onto the government. Today [...]
FTSE mining and auto stocks hit by China tightening fears January 20, 2011 BRITAIN’S top share index sank to its lowest closing level in more than five weeks yesterday, weighed down by mining stocks on concerns over potential further monetary tightening by China and its impact on demand. The FTSE 100 closed down 108.79 points, or 1.8 per cent, at 5,867.91, its lowest close since December 13. Miners [...]
Price hike Britain January 18, 2011 Fears were growing last night that Britain faces an explosion in the cost of living, with spiralling inflation threatening to erode savings and squeeze households already facing higher taxes. The consumer price index (CPI) shot up in December at the fastest rate since the Office of National Statistics (ONS) began reporting it in 1996, the [...]
Rising inflation smashes through CEE price targets January 18, 2011 INFLATION targets are being overshot throughout central and eastern Europe (CEE), mirroring price worries in the UK and elsewhere. While consumer price index (CPI) inflation remains low compared to the long term average, the CEE average has increased every month since June last year, rising from 3.6 per cent in June to 5.5 per cent [...]
BEST OF THE BROKERS January 18, 2011 GREENCORE RBS rates the Irish convenience foods producer “buy” with a target price of €1.50. The broker believes Greencore enjoyed solid trading over Christmas, though it expects raw material cost inflation to continue to dampen profits. RBS believes its short-term price is likely to be driven by its proposed merger with Northern Foods. PRUDENTIAL Nomura [...]
Inflated expectations are driving up sterling January 18, 2011 INFLATION is the curious way in which, over time, the same amount of money buys progressively less stuff. So it was strange to see yesterday that, as a result of higher than expected inflation in Britain, the value of sterling hit its highest level in two months. Against the dollar, the pound rose by about [...]
Inflation hits eight-month high of 3.7 per cent January 18, 2011 A surge in oil prices drove consumer price inflation up far more than expected in December to an 8-month high of 3.7 per cent – well above the Bank of England’s own forecasts. The Office for National Statistics said the annual rate of CPI rose to 3.7 per cent in December from 3.3 per cent [...]