Neville Prior 14 May 2013 01:49:16 PMForgive the pun, but fracking in the USA is going to have earth shattering consequences!! Take the following estimates from the International Energy Agency :
- Over the coming 5 years, the US will account for one third of all new oil supplies.
- The US will change from being the world's largest oil importer to a net exporter.
The reliance on OPEC will ultimately be broken...........build your own scenarios!
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Neville Prior 13 May 2013 08:59:26 PMConfidence is improving across most UK businesses, according to the latest business surveys, although manufacturers are less optimistic. Business lobby group the CBI said the economy was moving from "flat to growth", although it kept its forecast for growth this year at 1%. Meanwhile, accountancy firm BDO said business confidence improved in April, particularly in the services sector. However, BDO said the outlook for manufacturing "remains bleak". And the CBI said "clear challenges" remained both at home and abroad, with uncertainty in the eurozone and what it called a muted international outlook holding back investment. It said that at home, inflation presented a problem for consumers who were finding it eroding their living standards. It expects inflation to peak at 3.1% during this quarter. The CBI's director-general, John Cridland, said: "Amongst CBI companies, there's a general sense that the forward mood has brightened a little." He said the government's Funding for Lending Scheme was beginning to have an impact: "When I talk to small businesses, they are already seeing the benefit on cost [of credit], and lower cost leads to more availability."
The BDO survey gauges optimism in business performance and the economy over the next six months. Although its Optimism Index hit 93.0, it is still below the score of 95 needed to indicate growth. However, the index did move up 0.8 points from March, and is at its highest point since October 2012. Peter Hemington, a partner at BDO, said confidence seemed to be returning slowly to UK businesses, and that there was a continuing revival in the services sector. "However, as in previous months, our indices reveal a mixed picture," he added. "The manufacturing sector is a particular concern. If it is serious about its plan to rebalance the UK economy, we continue to believe that the government could do more to help UK manufacturing, particularly by encouraging both lending and investment in the sector. "We also still think there is an excellent opportunity for the government to expedite the UK's economic recovery by increasing public investment." The BDO report said the divergence between the expected fortunes of the services and manufacturing sectors could be partly explained by the impact of increasing inflationary pressures on UK businesses. Manufacturing, it said, had been hit harder by the rising prices of energy and commodities.
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Neville Prior 13 May 2013 08:51:52 PM
Effective June 1, 2013, or as permitted by contract, prices for all Kronos titanium dioxide products sold in North America will be increased by 10 cents per pound.
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Neville Prior 10 May 2013 04:44:11 PMUpdated economic data suggests that the UK didn't actually have a double-dip recession in 2012. Q1 2012 data for the construction industry was not as bad as first thought............It may all be history but best to have it correct.
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Neville Prior 9 May 2013 02:22:37 PMUK industrial production was stronger than forecast in March, official figures show, boosted by manufacturing and a recovery in oil and gas output. The Office for National Statistics said industrial output rose 0.7% in March from February, above the 0.2% expected by economic forecasts. Manufacturing output, a sub-sector of industrial production, rose 1.1%, boosted by electronics, metals and machinery. But annual output was still 1.4% lower.
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Neville Prior 7 May 2013 02:08:04 PMChemicals giants Ineos and Solvay have announced their intention to enter into a 50-50 joint venture which, the companies said will create a PVC business with an annual turnover in the region of €4.3bn (£3.6bn). An Ineos spokesman said the company did not have a time-frame for when the deal might get the go-ahead or any conditions, such as sell-offs, that might be imposed. However if and when the proposal gets the nod from competition authorities combining the two firms’ European chlorvinyls operations will put the new venture in the top three worldwide producers, the pair said in a statement.
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