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Delcam maintains development investment despite downturn

CADCAM developer Delcam has maintained its industry-leading levels of research and development expenditure during the first half of 2009 despite feeling the effects of the global economic downturn.
The company invested over £4.7 million in R&D during the period, a small increase from the £4.5 million invested in the first half of 2008. This strategy is [...]

Magners Brewer Gulps Down Tennent’s Lager

Scotland’s best-selling lager, Tennent’s, has been snapped up by the brewer of Magners cider in a deal worth £180m.
The proposed sale by brewing giant Anheuser-Busch InBev to Magners owner C&C includes Glasgow’s Wellpark Brewery, where Tennent’s lager is brewed.
Tennent’s accounts for 55% of lager volumes sold to Scottish pubs and clubs and around 30% of [...]

Low rates accelerate housing rebound

UK house prices rose in August for the fourth consecutive month, amid signs that low interest rates were bringing stability to the market.
The closely watched Nationwide House Price Index recorded a 1.6 per cent rise in August. The three-month-on-three-month rate of change – considered a smoother indicator of price movement – went up by 3.3 [...]

Volcker: Money funds weaken financial system

Money-market mutual funds undermine the strength of the U.S. financial system and should be regulated more like banks, Bloomberg reported former Federal Reserve Chairman Paul Volcker as saying in an interview.
“Banks remain the functioning heart of the financial system, and they are protected and regulated,” Volcker, an economic adviser to the Obama administration, told the [...]

Diamonds Aren’t Forever As Sales Plummet

Diamond sales have plummeted in the recession with the world’s biggest producer reporting a 99% fall in profits.
De Beers which controls 40% of the rough diamond market, has reduced its workforce by 23% as it digs deep to save cash.
Sales of unpolished diamonds slid 57% while profits in the first six months of the year [...]

Labour Infighting Sends Pound Plunging

The brutal Government infighting has sent the pound plunging to a one-week low.
It was the second day running that the pound was hit by events in the world of politics.
Trading floor rumours on Thursday that Gordon Brown was about to quit sent sterling spiralling
The fall continued on Friday as Labour faced up to an electoral [...]

FTSE Soars On Hopes Of Global Recovery

The FTSE 100 has continued its upward trend powering to a 10-month high, as markets across the world were boosted by hopes of a global economic recovery.
The Index closed up 45 points at 4896, having briefly passed the 4900 mark, spurred by earlier gains in Asia.
The FTSE has seen almost continuous growth since mid July [...]

Oil rises towards $68

Oil rose towards $68 a barrel on Tuesday in line with a broad recovery on Asian and European stock markets after falling the previous day to a two week-low.
U.S. July housing data and producer prices, both due to be released at 8:30 a.m. ET, will provide the next indication of the health of the U.S. [...]