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December 31, 2007
Gold, silver end higher on year; mixed on session
Permalink: Gold, silver end higher on year; mixed on session by Elaine Frei
Precious metals prices were mixed in New York on Monday, but both gold and silver ended higher for the seventh year in a row.
February gold was down $4.70 to $838 per troy ounce, while April platinum dropped $14.10 to $1,525.40 per troy ounce.
March silver was up 3 cents ...
Cyprus, Malta join euro as year turns
Permalink: Cyprus, Malta join euro as year turns by Elaine Frei
Cyprus and Malta are both scheduled join the euro at midnight on Monday, brining the number of nations using the shared currency to 15.
While only the Greek portion of Cyprus, in the south, will officially adopt the euro, many merchants in the northern, Turkish, portion of the island nation will ...
Virgin warns strikers they will not meet pay demands
Permalink: Virgin warns strikers they will not meet pay demands by Kay Murchie
Virgin Atlantic cabin crew, who are members of the Unite union, are to stage two 48-hour strikes next month after they voted in favour of industrial action.
The strikes will run for 48 hours each, starting at 0600 on Wednesday 9 January and from 0600 on Wednesday 16 ...
Heineken expands into Belarus beer market with acquisition of Syabar
Permalink: Heineken expands into Belarus beer market with acquisition of Syabar by Kay Murchie
Heineken, the Dutch brewer, is expanding into the fast-growing Belarus beer market with the acquisition of leading brewer, Syabar Brewing Company, as part of a strategy to obtain leading market positions and compensate for sluggish growth rates in Western beer markets.
Heineken, the world's fourth largest brewer, ...
Wal-Mart closes its online film download store
Permalink: Wal-Mart closes its online film download store by Kay Murchie
Wal-Mart, the world's biggest retailer, has closed its online film download service it launched less than 12 months ago.
The service was launched in February offering 3,000 films and episodes of popular television shows to US customers to watch on a PC or a portable device compatible with Microsoft Windows ...
Bumper Christmas at John Lewis
Permalink: Bumper Christmas at John Lewis by Kay Murchie
John Lewis staff can expect record bonuses averaging over £2,200-a-head after the retailer experienced strong Christmas trading.
Based on last year's profit split, the 70,000 staff across John Lewis and its supermarket chain Waitrose will get a bonus worth one-fifth of their salary.
The retailer also owns one third of grocery home delivery ...
December 28, 2007
US wheat prices drop on reduced demand
Permalink: US wheat prices drop on reduced demand by Elaine Frei
March wheat on the Chicago Board of Trade dropped its daily limit of 30 cents on Friday to $8.85 per bushel on signs that demand is dropping.
Algeria, Egypt and India have all recently canceled orders for US wheat because its price is higher than that for wheat from other regions.
Kansas ...
Dollar weakens versus euro for sixth straight session
Permalink: Dollar weakens versus euro for sixth straight session by Elaine Frei
The US dollar was weaker in relation to the euro for the sixth session in a row on Friday as unrest continued in Pakistan and as a Commerce Department report showed that new home sales were down by 9 percent in November, convincing many analysts that another US interest ...
Tesco Mobile in trouble
Permalink: Tesco Mobile in trouble by Kay Murchie
Tesco's mobile phone arm is under threat following network shake-up plans from telecoms regulator Ofcom.
It has been claimed that Ofcom wants to make some of the 900MHz radio spectrum, currently used by Vodafone and O2 for second generation calls and text services, available for other operators. Parts of the spectrum could be ...
December 27, 2007
Oil, gold prices see gains
Permalink: Oil, gold prices see gains by Elaine Frei
Crude oil prices were higher on Thursday as geopolitical news was bad and new US inventories data wasn’t much better.
Just before the close of floor trade in New York, West Texas Intermediate crude for February delivery was 65 cents higher to $96.62 per barrel while Brent crude added $1.75 to $95.69 per ...
New York markets down on economic, geopolitical news
Permalink: New York markets down on economic, geopolitical news by Elaine Frei
Wall Street was lower in early afternoon trade on Thursday on both economic and political news. The Dow Jones Industrial Average was 1.17 percent lower to 13,392.85 while the Nasdaq Composite was down 1.26 percent to 2,690.04 and the S&P 500 had dropped 1.11 percent to 1,480.99 in ...
Swiss franc gains on most currencies
Permalink: Swiss franc gains on most currencies by Elaine Frei
The Swiss franc saw gains against the euro, the US dollar, and most other major currencies on Thursday after opposition leader Benazir Bhutto was assassinated in Pakistan as investors looked for a safe place to put their money.
At just past 1 p.m. in New York the Swiss franc was trading at ...
Boxing Day sales draw in huge crowds
Permalink: Boxing Day sales draw in huge crowds by Kay Murchie
Fears of an economic slowdown meant that shops across the UK reported fewer customers than expected earlier this week. Increasing internet sales and a dent in confidence has affected retailers.
However, as high street shops reduced their prices, Boxing Day attracted huge crowds with queues forming outside many shopping centres ...
Strong trading at Amazon
Permalink: Strong trading at Amazon by Kay Murchie
Amazon.com said customers ordered over 5.4 million items on December 10, the online retailer's busiest day. Last year, its busiest day was December 11 when 4 million items were ordered.
Brian McBride of Amazon said the 2007 holiday season was the strongest since the firm started trading in 1994. This shows the increased ...
December 24, 2007
Oil prices gain slightly
Permalink: Oil prices gain slightly by Elaine Frei
February contracts for West Texas Intermediate crude oil traded at $93.65 per barrel, up 34 cents from Friday’s close shortly before an early close on the New York Mercantile Exchange on Monday, after having dropped earlier in the session on mild weather predictions for the next two weeks in the US.
Trade was limited ...
Yen, pound weaker to start week
Permalink: Yen, pound weaker to start week by Elaine Frei
On a day of limited trade due to holidays both the pound and the yen weakened.
The pound hit a record low versus the euro for the second consecutive session after UK home prices that were reported to have dropped another 0.3 percent lower in December as well as on continuing sentiment ...
Blackberry increases subscriber base
Permalink: Blackberry increases subscriber base by Kay Murchie
Research In Motion (RIM), the maker of the Blackberry, increased its subscriber numbers by 1.65 million in its third quarter. It has also increased users by reducing the cost of its email service. Sales on the day after Thanksgiving (which the US counts as the start of Christmas trading) broke the company's one-day ...
Shops ‘quiet’ leading up to Christmas
Permalink: Shops ‘quiet’ leading up to Christmas by Kay Murchie
Fears of an economic slowdown triggered by the Northern Rock crisis has meant that shops across the UK reported fewer customers than expected.
Increasing internet sales and a dent in confidence has affected retailers. Sales on Britain's busiest High Street, Oxford Street in London, were much slower than last year.
Even ...
December 21, 2007
Sports Direct Sell Umbro Stake To Nike
Permalink: Sports Direct Sell Umbro Stake To Nike by Stewart Douglas
Sports retailer Sports Direct has today offloaded part of its equity stake in manufacturer Umbro to rival Nike, in a move worth £56 million that will pave the way for Nike to complete its takeover approach of the England football shirt manufacturing company.
Sports Direct acquired the stake, amounting to just ...
Bill Gates Buys Femsa Stake
Permalink: Bill Gates Buys Femsa Stake by Stewart Douglas
Software giant Microsoft chairman and multi billionaire Bill Gates has today announced he has acquired a minor stake in a major Mexican brewery, in a move that has been seen as a private investment made through the guise of his private asset management firm Cascade Investment.
The 3% stake in brewer Femsa, which ...
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