Stories for January 13th 2012
Falkland Islands Holdings agrees to subscribe 2 million new shares from FOGL
Falkland Islands Holdings has agreed to subscribe for 2 million new shares placed by Falkland Oil and Gas Limited. FIH says the £860,000 cost of the shares will be met from the group's existing cash resources.
Brazil's orange juice threatened by the discovery of the fungicide carbendazim
Orange-juice futures rebounded from the biggest two-day slump since 2008 on renewed concern that a US government probe of imports from Brazil will tighten supplies. The Food and Drug Administration said it will detain all imports that contain carbendazim, a fungicide that isn’t approved for oranges in the US.
UK producer prices drop in December; further emergency stimulus anticipated
The prices of goods leaving Britain's factories surprisingly fell in December compared with November, confirming expectations that inflation is set to ease further this year, official data showed Friday.
S&P downgrades France’s rating; Greek swap talks on hold; Euro hits new low
Stock markets and the Euro traded lower Friday as Greek debt swap talks were put on hold and France’s Finance minister confirmed that Standard & Poor’s has downgraded the country’s credit rating.
Several groups interested in taking over bankrupt American Airlines
US Airways Group, Delta Airlines and private equity firm TPG Capital are among several parties interested in potential bids for AMR Corp, the bankrupt parent of American Airlines according to US financial media reports.
Trade of illegal pesticides booming in Europe under control of organized crime
The trade of illegal and counterfeit pesticides is proliferating in Europe reports Europol. The exceptional ‘low risk – high profit’ margin, combined with the lack of harmonisation in legislation and implementation, make this a fast growing area of organised crime.
Non-official Argentine inflation hits 1.9% in December and 22.81% in 2011
Argentine opposition lawmakers presented December’s consumer inflation index based in the analysis of nine private agencies, which showed a 1.9% increase over the previous month and totalling 22.81% for the twelve months of 2011, roughly double the official index.
Obama asks Congress for a 1.2 trillion dollars increase in US debt limit
US President Barack Obama formally notified Congress that he plans a 1.2 trillion dollars increase in the US debt limit, setting the stage for Republicans to level election-year charges that deficits are out of control.
Oil company ensures funds for a Falkland Islands’ two-well drilling round
UK-based Falkland Oil and Gas (FOGL) announced on Friday it has raised £48.5m (74.3m dollars) through a placing of new ordinary shares to fund drilling of exploration wells in Falkland Islands while it continues active discussions with potential partners for a farm-out.
Falklands plans to export 30.000 lambs this season from upgraded abattoir
The Falkland Islands Meat Company (FIMCo) may export up to 30,000 lambs in the coming season compared to 26,000 last year in an abattoir successfully upgraded by local companies, reports the Penguin News in this week’s edition.
