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Archive for May 9th, 2008Oil hits record over $126 a barrelPosted by UK Economy News
In UK financial news
9May 08 Oil jumped to a new intraday record of $126.20 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.
Read full story Former Siemens chief will not face penal charges: prosecutorPosted by UK Economy News
In UK financial news
9May 08 Heinrich von Pierer, former Siemens chief and supervisory board president, will not face penal charges in connection with a vast corruption scandal at the German engineering giant, prosecutors in southern Munich said in a statement on Friday.
Read full story Comments Off Guinness set for major Irish shake-up: DiageoPosted by UK Economy News
In UK financial news
9May 08 Diageo, the alcoholic beverages giant, said on Friday it planned to overhaul its Guinness operations in Ireland to cut costs and boost production of its distinctive black stout.
Read full story Comments Off Big eurozone companies facing tighter credit conditions: ECBPosted by UK Economy News
In UK financial news
9May 08 Financial market turbulence has led to a tightening of eurozone credit standards, particularly for loans to big companies, the European Central Bank said on Friday.
Read full story Comments Off Canada blocks sale of top space company to US firm: ministerPosted by UK Economy News
In UK financial news
9May 08 Canada's industry minister confirmed Friday he is blocking the sale of leading space firm MacDonald Dettwiler and Associates to a US defense contractor, saying it provided no net benefit to Canada.
Read full story Comments Off Protesters rally in SKorea ahead of US beef importsPosted by UK Economy News
In UK financial news
9May 08 Thousands of protesters rallied in the South Korean capital Friday to denounce the decision to resume US beef imports as the government struggled to dispel a growing scare over mad cow disease.
Read full story Comments Off Grangemouth nearly back, unions talkPosted by UK Economy News
In UK financial news
9May 08 The 200,000 barrels per day Grangemouth refinery in Scotland has resumed almost full production after closing last month for a two-day strike, the plant's owner Ineos said on Friday.
Read full story Comments Off Oil price jumps above $126 for first timePosted by UK Economy News
In UK financial news
9May 08 Oil prices hit a record high above 126 dollars on Friday, driven by speculative interest amid concerns about tight global energy supplies, analysts said.
Read full story Comments Off World begins to smart from oil’s too rapid risePosted by UK Economy News
In UK financial news
9May 08 From the poorest of Africa to the United States and big business, a breakneck rally that could take oil to $200 a barrel is likely to inflict pain on everyone.
Read full story Comments Off Euro rallies against dollar in European tradePosted by UK Economy News
In UK financial news
9May 08 The euro rebounded against the dollar on Friday as the market focused on the interest rate outlook for the United States and eurozone, traders said.
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