Business and City Summary
Monday 13 December 1993
Inflation will climb to 8 per cent or higher in the second half of the 1990s as strong private sector spending and capacity bottlenecks lead to an overheated economy, according to Bill Martin, chief economist at UBS.
In his January forecast, he predicts that the Budget has given the economy a year's remission, but will not be judged a success by future historians.
SHELL IN CHINA
Royal Dutch/Shell Group has signed a contract with China National Offshore Oil Corp to explore a block in the East China Sea, the 10th such contract since the East China Sea was opened for exploration in June last year.
CAR FINANCE AHEAD
The number of new cars sold on finance rose 46.9 per cent in November, bringing the increase for the year so far to 16.8 per cent, according to Motor Industry Monitor. Finance for used car sales also rose 17.6 per cent.
FUNDS TO BRITAIN
Fund managers are switching to Britain and the US from Continental Europe and Japan, according to the latest Smith New Court survey. A balance of 27 per cent intend to increase their UK weighting, and 17 per cent their US allocations.
The Confederation of British will today hold the first in a series of seminars aimed at promoting co-operation between the civil and defence industries. Initiated by British Aerospace and sponsored by the Department of Trade and Industry, it is aimed at encouraging joint development of key technologies, so avoiding duplication of effort.
HOT FOR FRIDGES
The offer for sale by Hualing Holdings, the Hong Kong-based company that owns 95 per cent of a refrigerator plant in Guangzhou, China, was 351 times oversubscribed.
Producer price index; index of output of the production industries.
Interims: Baillie Gifford Japan, Berkeley Group, Brasway, Greene King, Hamlet Group, London Electricity, Norbain.
Finals: Hardys & Hansons, Mining & Allied Supplies, Richards, Unidare, Widney.
Interims: Amberley, Bogod, Ewart, First Technology, Halma, Melville St Investments, Siam Selective Growth, Southern Electric, Southern Water.
Finals: Aukett Associates, Chemex International, Sheriff Holdings, Southern Radio, Trafalgar House, Vaux Group, Whessoe.
Retail Prices Index Retail Sales; US retail sales (November).
Interims: Bristol Water, Northern Electric, Schroder Split Fund, South Western Electricity
Finals: Acatos & Hutcheson, Alvis, Baggeridge Brick, Chemring Group, Daily Mail & General Trust, Greencore, Group Development Capital, Haemocell, Hunters Armley, Shoprite.
Public sector borrowing requirement; US merchandise trade.
Interims: AH Ball, London Merchant Securities, MS International, Plysu, Stewart & Wight, Sutcliffe Speakman, Westport, Yorkshire Electricity.
Finals: Albion, Barcom, Brunner Inv Trust, Chiltern Radio, Electra Inv Trust, Fairline Boats, Kleinwort Charter Inv, Phonelink.
US housing starts (November).
Interims: Abtrust Preference Income Investment Trust, Asda Group, Manweb, Reliance Security, Eliza Tinsley Group, United Industries, Unit Group, Waverley Mining Finance, Welsh Industrial Investment Trust.
Finals: Burndene Investments, Trio Holdings.
Jo from Northern Ireland was less than impressed by Russell Brand's attempt to stage a publicity stunt
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
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