China GDP overtakes Japan

first_imgMonday 16 August 2010 9:31 am JAPAN’S second-quarter GDP was less than China’s before seasonal adjustments, government data showed, underscoring expectations that China will overtake Japan as the world’s second-largest economy this year.Japan’s second-quarter unadjusted GDP totalled $1.2883 trillion on a nominal dollar basis, against China’s second-quarter unadjusted GDP of $1.3369 trillion, an estimate by Japan’s Cabinet Office showed.But Keisuke Tsumura, a parliamentary secretary at the Cabinet Office, told reporters that it would be misleading simply to compare quarterly growth figures for Asia’s economic powerhouses, with a release from the Cabinet Office indicating that China does not release seasonally adjusted figures.“It would be correct and fair to compare the figures for the whole year,” Tsumura said. “It will be very misleading to simply compare quarterly figures.”In the first six months of 2010, Japan’s GDP before seasonal adjustments totaled $2.5871 trillion, surpassing China’s $2.5325 trillion.“People have been expecting the Chinese economy to grow at a rapid pace and become physically larger than Japan for many years, so it is not a surprise,” said Robert Feldman, chief economist at Morgan Stanley MUFG Securities in Tokyo.“The issue is whether this will be a trigger for policy changes in Japan,” he said, although he added that in the short-term, domestic political considerations were paramount as Prime Minister Naoto Kan struggles with a hung parliament and a potential leadership challenge from his own party.“It will be used as a tool in the debate in Japan, but is not the essence of the debate itself. The debate is whether they want a growth strategy that hurts vested interests but will help the economy overall,” Feldman said.China’s top currency regulator had said on 30 July that his country had already overtaken Japan as the world’s second-biggest economy. China GDP overtakes Japan John Dunne Show Comments ▼ Sharecenter_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndo whatsapp whatsapp Tags: NULLlast_img read more

Facebook to track users’ location

first_imgThursday 19 August 2010 8:48 pm Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Facebook’s 500m-plus users will soon be able to track friends’ whereabouts across the world, as the world’s largest Internet social network adds technology to increasingly tie its virtual world to everyday life. The new “Places” feature – which begins rolling out on Wednesday and goes nationwide within weeks – is being touted as a tool to help users share where they are, figure out who is in the vicinity, and check out happenings and services within the same locale. KCS-content Show Comments ▼ Facebook to track users’ location whatsapp whatsapp Tags: NULLlast_img read more

United Business Media buys US firm for $287m

first_img Show Comments ▼ whatsapp United Business Media buys US firm for $287m whatsapp BRITISH events and publishing group United Business Media (UBM) has agreed to buy US tradeshows company Canon Communications for $287m to boost its presence in the medical sector and emerging markets.UBM said yesterday the acquisition – the company’s largest since chief executive David Levin joined five years ago — would make it the leading provider of tradeshows and related media for the medical-device design and manufacturing markets.UBM’s investors reacted positively to the deal. “The strategic fit looks good,” said a broker at Numis Securities, who kept a “hold” rating on UBM shares. “This implies last-twelve-month multiples of 2.7 times sales and 7.8 times EBITDA,” UBS analyst Alastair Reid wrote in a note. In the 12 months to 30 June, Canon generated $106m in revenues and it had earnings before interest, tax, depreciation and amortisation (EBITDA) of $37m.UBM is buying Canon from Spectrum Equity Investors and Apprise Media.The company said it expected the takeover to boost earnings per share by nine per cent in the first full-year of ownership. Share Thursday 16 September 2010 8:42 pm KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Tags: NULLlast_img read more

EU plans to tighten rules on offshore oil drilling

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Share Wednesday 13 October 2010 7:50 pm whatsapp Show Comments ▼ EU plans to tighten rules on offshore oil drilling center_img The European Commission will propose tougher rules on offshore oil and gas drilling in the first half of 2011, but will not demand a temporary halt to new drilling operations, the EU’s energy chief said yesterday.The plans are intended to guard against a repeat of BP’s Deepwater Horizon disaster in the Gulf of Mexico, which killed 11 workers and led to the worst oil spill in US history.After BP’s spill, the Commission floated the idea of a moratorium on new deep water drilling operations until the exact causes of the disaster had been fully investigated, but has since softened its stance.The new rules would introduce stricter licensing regimes and require drilling companies to prove they can cover the full cost of any future accidents, possibly through insurance schemes, the Commission said.“We will hopefully in spring of next year be able to make the relevant proposals for legislation,” said EU energy commissioner Guenther Oettinger, adding that any plans would need to be approved by EU governments and lawmakers. The new rules could require companies to build up cash reserves to cover at least part of the cost of future clean-up operations. KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp Tags: NULLlast_img read more

Record gold and silver output at Fresnillo

first_img A RECORD boom in gold and silver output at miner Fresnillo caused investors to rush to buy the stock yesterday. The Mexico-focused miner said production will be slightly above its full-year targets thanks to a record third quarter. Gold output jumped 44.4 per cent on the year-earlier quarter to nearly 92,000 ounces in the three months to the end of September, while silver rose 1.2 per cent to reach a record output high of 10.69m ounces, the company said in an interim statement. Analysts at Numis had expected 9.6m ounces of silver, or 10.4m including the proceeds of Fresnillo’s Silverstream contract, and 81,000 ounces of gold. “This operational performance was enhanced by the significant increase in metal prices over the period,” said chief executive Jaime Lomelin.“These factors contributed to a strong overall result in the third quarter and give us confidence that the year as a whole will be one of the most successful in Fresnillo’s history.”Shares shot up more than four per cent following the announcement yesterday, before closing up 3.3 per cent at £12.82 in heavy trading. Tags: NULL whatsapp KCS-content whatsapp Show Comments ▼ Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Wednesday 13 October 2010 7:54 pm Record gold and silver output at Fresnillo Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img whatsapp FINANCIAL TIMESF&C OPPOSES US POLITICAL DONATIONS BY NEWS CORPORATIONF&C, the UK asset manager, will vote against the re-election of News Corp’s audit committee chairman at its upcoming annual meeting on Friday over the media group’s million-dollar political donations to the Republican Governors Association and the US Chamber of Commerce.“We are concerned to see the company deploy shareholder funds for activities that are best left to the individuals whose views they reflect and are not obviously a business matter for the company,” said Karina Litvack, head of governance and sustainable investment at F&C.TOP OIL TRADER SAYS PRICE WILL FALL SHORT OF $100Oil prices will rise modestly towards $85 a barrel next year despite market expectations they will return to over $100 a barrel, the world’s largest oil trading house has forecast. Ian Taylor, chief executive of Swiss-based Vitol, said a price band between $70 and $85 a barrel was “widely viewed as meeting producers’ needs while being ‘acceptable’ to consumers”.NORWEGIANS CONVICTED FOR OUTWITTING ALGOTwo Norwegian day traders have been handed suspended prison sentences for market manipulation after outwitting the automated trading system of a big US broker.The two men worked out how the computerised system would react to certain trading patterns – allowing them to influence the price of low-volume stocks.The case, involving Timber Hill, a unit of US-based Interactive Brokers, comes amid growing scrutiny of automated trading systems after the so-called “flash crash” in May.THE TIMESBRITAIN GOES RETRO IN CHRISTMAS RUN-UPThe gradual encroachment of Christmas into autumn has been a perennial bugbear of Scrooges for years. But this month a cold spell really has triggered an unusually early start to Christmas spending, according to John Lewis. Britain’s biggest department store group said sales of seasonal products have risen 16 per cent on last October, with sales of Christmas trees more than doubling.PETROPAV CUTS BACK ON HK LISTINGPetropavlovsk has been forced to cut the amount it will raise from the listing of its iron ore subsidiary in Hong Kong for a second time. The goldminer said today that it will offer 1.04 billion shares in an initial public offering of its loss-making IRC division. This is 30 million fewer shares than announced last week.The Daily TelegraphLOVEFILM TO STREAM MOVIES ON SONY’S PLAYSTATION Film-rental service LoveFilm has teamed up with Sony to offer movie streaming directly through the PlayStation 3 console. Subscribers to LoveFilm, of which there are currently 1.4m, will be able to choose from its collection of movies and watch them on their televisions.DP WORLD RESUSCITATES LONDON FLOAT PLANSDP World, the container terminals group controlled by the debt-laden Dubai World, plans to make another attempt next spring at a dual listing on the London Stock Exchange. The world’s fourth-biggest container ports group, which acquired UK operator P&O for £3.92bn in 2006, postponed its plans in June, blaming technical difficulties and subdued capital marketsWALL STREET JOURNALUK SEEKS PRIVATE INDUSTRY HELP IN AVERTING CYBER ATTACKSThe head of Britain’s communications intelligence agency said it may need to receive direct feeds of information from private companies in key economic sectors to better protect the UK economy from the threat from cyber attacks. In a rare speech, Iain Lobban, GCHQ’s director since 2008, said the risks from cyber attacks were expanding along with the rise in the Internet, which was growing 60 per cent a year.UBS PLANS TRANSPARENCY REPORTUBS will give shareholders more insight into how it nearly collapsed under the weight of billions in toxic securities in 2008, but the Zurich-based bank’s efforts to quell fury with former managers may fall short of some investors’ expectations. Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Wednesday 13 October 2010 8:29 pm WHAT THE OTHER PAPERS SAY THIS MORNING center_img Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Tags: NULL KCS-content Show Comments ▼ whatsapplast_img read more

BP in $1.8bn asset sale

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL John Dunne Share Show Comments ▼ BP in $1.8bn asset sale center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Monday 18 October 2010 4:22 am whatsapp whatsapp Russia’s TNK-BP, half-Owned by BP, said it would acquire BP’s production and pipeline assets in Vietnam and Venezuela for $1.8bn (£1bn).The company will use its own funds to finance the new acquisitions, TNK-BP said in a statement.“The acquisitions in Venezuela and Vietnam mark a milestone in TNK-BP’s strategic expansion in the global energy market,” said Mikhail Fridman, TNK-BP’s executive chairman and one of its four Russia-connected shareholders.Taken together, the Vietnamese and Venezuelan assets gave BP net reserves of 270m barrels of oil equivalent (boe), and its share in production from the Venezuelan assets is 25,000 boe per day, BP said in a separate press statement.Last year TNK-BP produced 1.89m boe per day.In Venezuela, the company will buy 40 percent of Petroperija and 26.6 per cent of Bouqeronin oil field projects, majority owned by Venezuela’s state-owned PDVSA oil company.It will also acquire a 16.7 percent stake in of the Petromanagas upgrader project, which processes tar-like Orinoco heavy crude into lighter synthetic oil that can be processed by traditional refineries.The project holds gross reserves of 1.2 billion barrels barrels of oil equivalent.In Vietnam, TNK-BP will acquire BP’s 35 per cent stake in an offshore gas condensate project; a 32.7 percent stake in the Nam Con Son gas pipeline and a 33.3 percent stake in the Phy My 3 power plant.All three of these assets form an integrated gas and power project with a production capacity of 30,000 barrels of oil equivalent per day, on a working interest basis. last_img read more

Carlyle buys CommScope

first_img Tags: NULL Show Comments ▼ PRIVATE equity firm Carlyle Group clinched a $2.9bn (£1.8bn) deal to buy communications cable maker CommScope, and analysts see little likelihood of rival bids emerging.Carlyle, which has a checkered history on telecoms deals, is offering $31.50 a share in cash, a premium of 36 per cent to CommScope’s closing price on Friday.CommScope has a “go-shop” period until 5 December, during which rival bidders can submit offers.“We believe this scenario is unlikely given the absence of any bids thus far, the speed by which this agreement has been reached, and the $43m break-up fee CTV would be obligated to pay if the deal were not executed,” KeyBanc analyst Anthony Kure said in a research note. Wednesday 27 October 2010 8:23 pm Share KCS-content Carlyle buys CommScope whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapplast_img read more

AB Foods hits £10bn but warns over price rises

first_img THE company behind clothes chain Primark and kitchen staples such as Kingsmill bread and Ovaltine yesterday reported that sales passed £10bn for the first time.Revenues at Associated British Foods (ABF) rose 10 per cent to £10.2bn in the 53 weeks to 18 September, while profits jumped 26 per cent to £825m. That allowed ABF to up its dividend 13 per cent to 23.8p. But the group also warned that the price of cotton for clothes and wheat for bread is rising. Chief executive George Weston said: “In the UK we are negotiating higher prices now, although we have been paying higher wheat costs for a couple of months already.” The company’s grain wholesale and animal feed business should benefit from the increase in prices. Sales at Primark were up 18 per cent to £2.7bn, while operating profits hit £341m. Share KCS-content Tags: NULL whatsapp Show Comments ▼center_img Tuesday 9 November 2010 8:31 pm AB Foods hits £10bn but warns over price rises whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

Pensions clarity can hit investor risk perception

first_img KCS-content whatsapp Share COMPANIES which disclose pension liabilities in their accounts are increasingly taking a hit on investor perceptions, regardless of whether or not they have a pension deficit, new research has shown.Over half of finance directors surveyed in a recent PwC study on attitudes to pensions accounting said that information disclosed in their accounts gave investors a negative impression of the company, even if they are taking action to reduce risk.“While many companies are taking action to reduce the risk that pension liabilities pose to the business, they are not always getting credit for this by failing to clearly communicate the benefits,” said Brian Peters, a pensions partner at PwC. “Perversely, risk reduction exercises can sometimes have a negative impact on investors’ perceptions by drawing attention to the significance of pension liabilities.”The research comes after it emerged that pension liabilities of UK companies had rocketed by a fifth over the past year, reaching a record £1.2 trillion at the end of the summer. Many firms have come under fire recently for running large pension deficits, including BT, British Airways and BAE Systems. Pensions clarity can hit investor risk perception Show Comments ▼center_img Sunday 14 November 2010 10:10 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more