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 [...]
Top stock picks for 2011 January 3, 2011 TRADING individual equities is always a risky business for contracts for difference (CFD) traders. An ill-considered, poorly executed trade will leave your fingers severely burnt and your account balance in the red. But get it right and you’re on track to rake in the profits. Even though equity strategists are cautiously optimistic about the prospects [...]
2010: A rollercoaster year of sport December 20, 2010 JANUARY TENNIS: Andy Murray misses out on a maiden grand slam when he is beaten by Roger Federer in the Australian Open final; FOOTBALL: David Sullivan and David Gold take over at West Ham; terrorists attack the Togo team at the Africa Cup of Nations in Angola, killing three; CRICKET: England are denied series win [...]
Russia tycoon creates new potash giant December 20, 2010 A RUSSIAN billionaire moved yesterday to create the world’s second-largest potash miner by uniting Russia’s top two producers, Uralkali and Silvinit, in a $1.4bn (£900m) deal. Uralkali, which like Silvinit is effectively controlled by Russian mining-to-banking tycoon Suleiman Kerimov, offered to buy rival Silvinit for cash and shares. Uralkali’s offer for 20 per cent of [...]
Telenor blocks Vimpelcom’s Weather bid December 20, 2010 VIMPELCOM’S $6.6bn (£4.24bn) bid for telecoms assets owned by Weather Investments is hanging by a thread after Norwegian shareholder Telenor said yesterday it would not back the deal. Telenor’s opposition to the deal — which would see Vimpelcom taking a controlling stake in Egypt’s Orascom Telecom and all of Italy’s Wind — means that all [...]
Novartis to build first factory in St Petersburg December 20, 2010 NOVARTIS will invest $500m (£322m) in Russia over the next five years, strengthening its position in the country as it joins rivals looking to get around tough rules on imported medicines. The Swiss drugmaker plans to build a new pharmaceutical manufacturing plant in St Petersburg as part of a partnership, which will focus on local [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 19, 2010 FINANCIAL TIMES APAX PLANS €11BN FUND Apax Partners aims to cement its position as Europe’s biggest private equity group next year by raising a new €11bn-plus ($14.5bn) fund – the biggest buy-out fundraising since the start of the credit crisis. Led by Martin Halusa, who replaced Sir Ronald Cohen as head of Apax six years [...]