Russians rush to list in London January 13, 2011 RUSSIAN steel pipe maker ChelPipe has become the third company from the former Soviet Union to announce a listing on the London Stock Exchange this week. The company, which is to launch an initial public offering (IPO) of up to $1bn (£635.2m), follows pump manufacturer HMS Hydraulic and coking coal producer KOKS earlier this week. [...]
UK’s retailers struggle with price inflation January 11, 2011 SHOPS are battling the effects of rising inflation, the British Retail Consortium (BRC) announced today. Shop price inflation hit 2.1 per cent last month, the group said, up from two per cent in November. The rate will concern consumers, but is “well below the wider consumer price index” (CPI) as retailers absorb the effects of [...]
Global economic recovery will pick up pace around April 2011, OECD predicts January 10, 2011 GROWTH in economies across several continents is set to accelerate, the Organisation for Economic Co-operation and Development (OECD) said yesterday. However, economic growth in Britain is merely showing “signs of stabilisation,” the report said. The OECD’s indicators, measured in November, are designed to anticipate turning points in economic activity six months in advance. “We expect [...]
Factory boom to boost the UK economy January 9, 2011 BRITAIN’S factories will continue to drive the economy forwards this year, manufacturers’ association the EEF said today. The sector exceeded expectations by growing 3.8 per cent in 2010 and will expand by a further 3.5 per cent this year, the group predicted in its 2011 economic forecast. Exports, particularly to emerging markets, will be key [...]
G20 reassures that it will tackle food price inflation January 7, 2011 THE Group of 20 leading economies have started working-level talks on the soaring food prices that are stoking fears of a repeat of the 2008 food crisis. Global food prices hit a record high last month, outstripping the levels that sparked riots in several countries in 2008, and key grains could rise further, the United [...]
What the other papers say this morning January 6, 2011 FINANCIAL TIMES GOLDMAN TEES UP SALE OF JAPAN GOLF COURSE Goldman Sachs is ending its long love affair with golf in Japan. The US investment bank is seeking buyers for its remaining stake in Accordia Golf, the country’s largest golf course operator. The proposed sale comes as Japan’s enthusiasm for golf is also cooling – [...]
Food prices soar to new high January 5, 2011 FOOD prices have surged above the peak they reached during the 2008 crisis, the United Nations (UN) revealed yesterday. The 2008 food crisis provoked food riots, the toppling of at least one government, and plunged over a billion people into hunger. And the UN’s food price index averaged 214.7 last month, a record high that [...]
FAO fears record food prices could head even higher January 5, 2011 WORLD food prices hit a record high last month, outstripping levels that prompted riots in 2008, and key grains could climb even further, the UN’s food agency has warned. The UN Food and Agriculture Organisation’s measure of global monthly price changes for a food basket of cereals, oilseeds, dairy, meat and sugar has reached its [...]
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 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 3, 2011 FINANCIAL TIMES CHINA TRAVEL GROUP PULLS OUT OF AIM Et-China.com International Holdings, the Chinese travel specialist, will today become the first company to quit Aim this year. Shares in the company, which raised £4.4m at 127p a share when it joined Aim in August 2007, were suspended at 103 1/2p in July because of its [...]