The Business Matrix: Tuesday 8 May 2012


Bank set to decide on printing money

The Bank of England's Monetary Policy Committee meets on Thursday and is under pressure to print more electronic money to ease the economy. Howard Archer at IHS Global Insight said: "It is a tight call ... The decision could well go down to the wire, influenced by data coming out over the next few days."

UK's aerospace industry at risk

Britain's aerospace industry could be overtaken by other nations within a decade without more research and development incentives, ministers have been warned. Sir Roger Bone, president of Boeing UK and a former diplomat, said: "We do have to pay particular attention to investment in R&D."

Lord Bell set for battle over PR firm

Lord Bell is poised to spell out plans for his controversial buyout of the PR firm Bell Pottinger at the annual meeting of parent company Chime Communications this Wednesday, in the face of fierce opposition. Chime's leading shareholder, Sir Martin Sorrell's WPP, has said the sell-off "sets a terrible precedent".

Tullow finds more oil in Kenya well

Tullow Oil has found more oil in a well it is drilling in Kenya after making the country's first discovery in March. The company said it had encountered a total net oil pay in excess of 100 metres across multiple reservoir zones in the Ngamia-1 well it is drilling on Block 10BB with its partner Africa Oil Corp.

Unemployment to hit 10.7% by 2016

Unemployment in most parts of the UK is likely to continue to rise over the next five years, according to an economic forecasting group. The Centre for Economics and Business Research (CEBR) says the overall jobless rate could hit 10.7 per cent by 2016, the highest for more than a decade.