Business and City in Brief
Wednesday 27 January 1993
French politicians urged the EC to stop Hoover from moving vacuum cleaner production from Dijon to Cambuslang, near Glasgow, because labour is cheaper there.
Workers yesterday occupied the plant in Dijon where 600 are to lose their jobs.
UNIT TRUST RECORD
Unit trusts ended 1992 with a record pounds 64bn under management despite a net outflow of pounds 24m in December.
Arthur Shaw shareholders trying to unseat Gordon Pearson, chairman, had an injunction against them lifted in the High Court, Birmingham, yesterday, pending a further hearing.
KIO SUIT REFUSED
A Spanish judge refused to accept a criminal suit filed by the Kuwait Investment Office's collapsed Grupo Torras that charged the holding company's former managers with fraud.
ECU LOAN RETURNS
The Government returned to borrowing in ecu notes for the first time since Black Wednesday. The ecu500m offer will be sold by tender on 2 February.
TVS TAKEN OVER
International Family Entertainment said it had acquired control of TVS Entertainment on undisclosed terms.
ONE OF THE CHAPS
Deutsche Bank applied to the Bank of England for a clearing account and for membership of the Chaps clearing system.
France transformed the Fr30bn trade deficit of 1991 into a Fr30bn surplus in 1992.
NEW YORK: A late sell-off of bonds trimmed sharp earlier gains. The Dow Jones Industrial Average ended 6.75 points to the good at 3,298.95.
TOKYO: Prices closed sharply higher on increasing expectations of an official discount rate cut. The Nikkei average closed up 205.18 points at 16,492.63.
HONG KONG: In dull post-holiday trading the Hang Seng index rose 9.34 points to 5,923.73.
SYDNEY: There was moderately active trading on the Australia Day holiday. The All Ordinaries index added 5.8 to 1,529.2.
JOHANNESBURG: Gold shares got a late boost from a rising gold price, but industrial stocks were easier. The overall index advanced five points to 3,404.
FRANKFURT: Share prices closed slightly higher in dull, narrow- range trading. The DAX index gained 6.92 points to 1,576.16.
PARIS: The CAC-40 index put on 12.65 points to 1,792.55.
MILAN: The UK rate cut lifted prices after early falls. The MIB rose three points to 1,045.
LONDON: Report, page 25.
- 1 Florida man sentenced to two-and-a-half years for having sex on the beach in front of a child
- 2 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 3 Nick Kyrgios calls former Olympian Dawn Fraser a 'blatant racist' after she tells Wimbledon star to 'go back where their parents came from'
- 4 World learns of app that shows you who unfriended you on Facebook, app promptly crashes
- 5 Chris Moyles reportedly set to make radio comeback with new breakfast show on XFM
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
Greece debt crisis: Angela Merkel and Francois Hollande issue Athens with 24-hour ultimatum to avoid crashing out of the euro
Greece crisis: Referendum exposes a gaping hole at the heart of the European Union – its lack of genuine legitimacy
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