UK industrial output fell unexpectedly in April, but economists have said the figures should not be a cause for concern. Output fell by 0.4% compared with March, the Office for National Statistics (ONS) said, whereas a rise of 0.4% had been forecast. It was the first fall in monthly production since January. Experts said the drop should be...
Wednesday, June 16, 2010
UK industrial output sees surprise fall in April
READ MORE - UK industrial output sees surprise fall in April
China's inflation rate rises but economic output slows
The inflation rate in China has surpassed the government's 3% target, creating a policy dilemma for Beijing. The annual rate of consumer price inflation rose to 3.1% in May, the National Bureau of Statistics said. More importantly, producer price inflation - the cost of goods at the factory gate - hit 7.1%.But industrial output slowed, leaving the...
US consumer data for May give mixed signals for economy
A surprise drop in US retail sales in May was followed by a jump in June consumer confidence. Sales were down 1.2% compared with April - the first drop in eight months. Economists had expected a 0.4% rise. But a consumer confidence index rose to 75.5 in June versus an expected 74.5.The two data releases came in quick succession, and puzzled stock markets,...
Japan PM Naoto Kan warns of 'collapse' under debt pile
Japan is at "risk of collapse" under its huge debt mountain, the country's new prime minister has said. Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis. "Our country's outstanding public debt is huge... our public finances have become the worst of any developed country,"...
UK business confidence sees 'record drop'
Business confidence among UK firms has seen its biggest drop since 1995 due to the government's rhetoric on spending cuts, a survey suggests. The Business Trends survey from accountants BDO fell to 97 in May from 103.3 the previous month - the largest drop since the survey began.BDO said economic growth forecasts for this year and next now need to...
Japan manufacturers 'more upbeat'
Optimism among big Japanese manufacturers has grown in the past three months, a study said. The results suggested large manufacturers had shaken off fears of the euro debt crisis and the strengthening yen, according to analysts. However the outlook for the Japanese economy remains uncertain.Last week Japan's new prime minister said the country was...
India inflation rate rises to two year high
Indian inflation has risen to a two-year-high, raising the possibility of interest rate rises. The wholesale price index rose to 10.16% in May, the highest since 2008. Rising food and fuel costs have pushed the rate well above forecasts, which were nearer 9%. The government says prices will come down soon.The rise in the inflation rate comes after...
Germany's Merkel wary of French EU vision
The French and German leaders are meeting in Berlin to try to narrow their differences over economic policy ahead of an EU summit on Thursday. Chancellor Angela Merkel was initially expected to meet French President Nicolas Sarkozy last week. The delay fuelled speculation about a big rift.Correspondents say France is keen to launch regular summits...
Oil price jumps on recovery hopes
The price of oil has jumped sharply to above $75 a barrel as rising stock markets helped to boost confidence in the global economic recovery. US light crude rose by more than $2, or 3%, a barrel, to $75.90, before slipping slightly. Brent was up $1.8 a barrel to $76.13, before falling back. Strong eurozone industrial production figures helped to push...
Greek government bonds downgraded by Moody's
Greek government bonds have been downgraded four notches to "junk" status by Moody's credit rating agency. The agency said there was still "considerable uncertainty" surrounding the impact of measures introduced to cut the country's high budget deficit. Greece is looking to slash its deficit from 14% of GDP to 3% by 2014. But Moody's said...
Fiscal watchdog downgrades UK growth forecast
The new independent fiscal watchdog has downgraded the economic growth projections for the UK economy. The Office for Budget Responsibility (OBR) predicts the economy will expand 2.6% in 2011, down from the 3% to 3.5% estimate given in Labour's last Budget. The lower figure will likely increase the impetus of the coalition government to cut public spending, as lower growth means fewer tax revenues. Yet the OBR also says the deficit and...
Harry Potter star Grint says new film was 'quite scary'
Harry Potter actor Rupert Grint has admitted that he found the idea of working on another movie set "scary" after working on the blockbuster series for so long. The 21-year-old was talking ahead of the release of new comedy Wild Target, which he stars in with Bill Nighy and Emily Blunt. He told Newsbeat: "It was quite an intimidating prospect to be on another set really, away from a crew that I'd grown up with. "To be out of that bubble...
Amedeo Modigliani sculpture sells for 43.2m euros
A sculpted limestone head by Amedeo Modigliani has sold for 43.2m euros (£35.8m) at Christie's auction house in Paris - a record for the artist. The piece, created between 1910 and 1912 and depicting an elongated face with almond-shaped eyes, was bought by an anonymous telephone bidder. The Italian artist switched from sculpture to painting...
Rare Rabindranath Tagore paintings sold in the UK
A collection of rare paintings by the Bengali poet Rabindranath Tagore has sold for more than £1.5m ($2.2m) at an auction in Britain. The collection has been described by Sotheby's auctioneers as "arguably the most important group of works by Tagore ever to appear at an auction". The 12 paintings by Tagore were sold by the Dartington Hall Trust charity. So far the buyers of the pictures - certain to attract huge interest in India - have...
Killers man unveils 'lonely' debut
The Killers Brandon Flowers is to release his debut solo album The Killers singer Brandon Flowers has said his first solo album started out as a new Killers album and that making it was a "lonely" process. Flamingo, recorded over the past year, will be released in the autumn, after the first single Crossfire comes out in September. Flowers has enlisted the help of a string of collaborators including...
Superdrug pulls Katie Price perfume
Reality TV star Katie Price's perfume has been pulled from Superdrug's shelves because of "ethical" reasons. It follows a report in The Observer newspaper claiming Indian workers making the bottles were paid less than the minimum wage. A spokeswoman for the high street shop said that because of their "robust ethical trading policy" it had been decided...
BBC receives 545 vuvuzela complaints over World Cup
The BBC has received 545 complaints about the sound of vuvuzela horns during its World Cup coverage. The corporation is considering showing coverage that cuts out the noise of vuvuzelas on its red button service. On Monday, World Cup organisers ruled out a stadium ban on the plastic horns, which can reach 130 decibels, following complaints from players...
Robbie Earle sacked over World Cup tickets
ITV World Cup pundit Robbie Earle has been sacked by the broadcaster after tickets for his family and friends were passed on to a third party. ITV said a "substantial number" of tickets for the Denmark v Holland match on Monday had been passed on, breaching Fifa rules. It has been claimed a block of tickets were used by a Dutch company for an "ambush...
Chris Dercon becomes Tate Modern head
Belgian Chris Dercon has been appointed head of London's Tate Modern art gallery, replacing Vincente Todoli who has held the post for seven years. The 52-year-old, who has run Munich's Haus der Kunst since 2003, said the job is "an incredibly inspiring challenge". Dercon, who has held numerous art directorships over 20 years, added he was "thrilled"...
Speculators betting on movie success
Box office hits could provide money-making opportunities to speculators Market traders who usually speculate on the price of oil or the value of the pound have found something new to bet on - movie releases. Following US regulatory approval, a new exchange is to begin offering traders the chance to bet on the success of the latest cinematic productions. Investors will enter into contracts betting on how much money a given film will make in...
Michael Jackson's doctor free to practise
The doctor accused of giving Michael Jackson a lethal dose of anaesthetic will be allowed to work in California as he awaits trial, a court has ruled. During a brief procedural hearing, a Los Angeles judge said he did not have the authority to ban Dr Conrad Murray. Members of the popstar's family were inside court to hear the ruling. Dr Murray, 57, denies involuntary manslaughter of Jackson, who died last June. A preliminary hearing has...
Ryan Seacrest stalker jailed for maximum sentence
Seacrest took out a restraining order against Uzomah A man who stalked American Idol host Ryan Seacrest has been sentenced to two years in prison and ordered to stay away from the star for 10 years. Chidi Uzomah, 26, who did not speak during the sentencing hearing, had previously pleaded no contest. He has been in jail since his June 2009 arrest after being stopped by security at cable network E! in Los Angeles, where Seacrest was recording...
Gary Coleman's cremation is delayed by judge
Coleman was living with Price at the time of his death US actor Gary Coleman's remains are not to be cremated until after Wednesday so his ex-girlfriend has time to see his body, a US judge has ruled. The former Diff'rent Strokes star died of a brain haemorrhage last month after a fall at his home in Utah. His ex-wife Shannon Price and former girlfriend Anna Gray are in a dispute over control of his estate.Ms Price divorced Coleman in 2008...
Michael Jackson to star in new video game
Ubisoft have issued an image from the new game Singer Michael Jackson is to be captured in a new video game, developers Ubisoft have announced. The game, which has yet to be given a title, will rate players' ability to dance like the late pop star. It will be one of the first titles to use motion detection technology, due to be rolled out on a number of consoles later this year.The musician voiced a video game character called Space Michael...
Pop star Prince to receive lifetime BET award
Pop star Prince is to receive a lifetime achievement honour at the Black Entertainment TV (BET) awards later this month. "Prince is dynamic. Prince is genius. Prince is music," said BET president of programming, Stephen G Hill. The BET awards are celebrating their 10th anniversary in Los Angeles on 27 June. This year's show will be hosted by Queen...
World Cup 2010: New Zealand hail 'best ever result'
New Zealand's only other appearance in a World Cup finals was in 1982 New Zealand coach Ricki Herbert described his team's 1-1 draw with Slovakia as the greatest result in the country's football history.The Kiwis earned their first point at a World Cup when Winston Reid headed home a dramatic injury-time equaliser. "We are very, very proud. You would have to say this is our best ever result," said Herbert. "We have come and thrown some extremely...
World Cup 2010: Queiroz questions Drogba decision
Queiroz believes Eriksson wanted his side to take risks Portugal coach Carlos Queiroz has queried the decision to let Didier Drogba wear a cast on his broken arm during his side's World Cup opener.Ivory Coast striker Drogba, who appeared as a substitute, was given clearance by Fifa after the cast had been examined by the match referee. Queiroz said: "Fifa delegates decided the referee's decision is final. "This was a bit odd. There are rules...
World Cup 2010: North Korea take comfort despite defeat
Highlights - Brazil 2-1 North Korea North Korea coach Kim Jong-Hun is confident his team will do well in their remaining Group G games despite losing 2-1 to Brazil in Johannesburg.The Koreans proved more than capable opponents for a Brazilian side who secured victory courtesy of second-half strikes from Maicon and Elano. Ji Yun-nam scored a consolation goal to boost the side ahead of difficult games against Portugal...
New Zealand 1-1 Slovakia
Winston Reid headed a dramatic injury-time equaliser against Slovakia to earn New Zealand their first ever World Cup point. Slovakia were on course for a perfect start in their debut World Cup as an independent nation after Robert Vittek's 50th-minute header. But Vladimir Weiss's side paid for sitting back on their lead when, in the third minute of...
Robbie Earle to lose role as England 2018 ambassador
Robbie Earle will no longer be used as an ambassador for England's 2018 World Cup bid after he was sacked by ITV. The ex-Jamaica and Wimbledon midfielder was dropped as a pundit after tournament tickets for his family and friends were passed to a third party. ITV said tickets for Monday's Denmark v Netherlands match in South Africa were distributed,...
Two women in court over World Cup Dutch 'beer stunt'
The women were ejected from the stadium Two Dutch women have appeared in court in South Africa over an alleged "ambush marketing" stunt at a World Cup match. They were released on bail. More than 30 women were ejected from the Johannesburg stadium on Monday during the match between Denmark and the Netherlands. They were accused by Fifa of breaking strict rules on World Cup marketing. They had all been wearing...
South Africa to deport 17 Argentina football supporters
South Africa is to deport 17 Argentina football supporters arrested on suspicion of being troublemakers, police said. They were described as a possible threat to public order who could disrupt the World Cup.The 17 were on a list of 800 known hooligans barred from attending matches in Argentina that authorities there gave to South Africa.Five other...
World Cup 2010: Eriksson backs talks over new balls
Former England boss Eriksson took over as Ivory Coast coach in March Ivory Coast boss Sven-Goran Eriksson believes goalkeepers should be consulted when new footballs are being designed for international tournaments.The Jabulani ball being used in South Africa for the World Cup has been widely criticised by players. "It's too late to do something about it in this World Cup," said Eriksson. "It's a decision for the authorities...
World Cup 2010: Gianluigi Buffon sits out training
Italy v Paraguay - Match highlights Italy goalkeeper Gianluigi Buffon has missed training for the second successive day amid fears that he may not play again in the 2010 World Cup.The 32-year-old sat out Wednesday's session - 24 hours after undergoing tests on a back injury. Buffon, who was replaced at half-time in Monday's 1-1 draw against Paraguay, has a problem with his sciatic nerve. A statement later released...
World Cup 2010: Capello ponders England changes
Highlights - England 1-1 USA England boss Fabio Capello says Gareth Barry will start against Algeria, but he is still undecided over who to play in goal and up front with Wayne Rooney.Barry has shaken off an ankle injury and will anchor the England midfield in their second World Cup game on Friday. But goalkeeper Rob Green's place is under threat following his mistake in the 1-1 draw with the United States. ...
Wednesday's World Cup 2010 round-up
Ozil has been linked with a move to England Germany star Mesut Ozil insists he is fully focused on the World Cup and not his club future, despite speculation linking him with a move away from Werder Bremen.Arsenal and Manchester City are among the clubs reported to be interested in the 21-year-old, who said: "All that interests me now is the World Cup. As a team we have goals, that is all that matters."Serbia striker Milan...
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