27th June 2011
From the Independent, the era of cheap clothing on the high street is probably over, as soaring demand from emerging markets keeps the price of natural fibres stubbornly high, a body representing the US cotton industry has warned.
Today in the Telegraph, European leaders have admitted they are preparing for a Greek default as the eurozone debt crisis enters a pivotal week.
Also from the Telegraph, the former chairman of Lloyds Banking Group has broken his self-imposed silence and demanded greater pay restraint from bankers and said that Lloyds should not be forced to sell off more branches.
The Financial Times are reporting on Lloyds as well, Lloyds Banking Group's exposure to the riskiest kind of mortgages is more than double that of any of its top five rivals in what is potentially a ticking time bomb for Britain's largest high-street lender.
Also from the Financial Times, Ocado has overcome capacity constraints at its high-technology distribution warehouse in Hatfield to boost sales by more than 20 per cent and report its first interim pre-tax profit. But the swing to the black did not impress investors on Monday, who drove down shares in the online grocer by almost 10 per cent, or 18p, to 169p – below the 180p float price.
The Guardian is discussing, Britain's biggest array of solar panels has begun generating in Oxfordshire. The first large ground system to feed into the national grid will benefit from the tariff scheme paying a premium for supplying clean electricity.
The Guardian is reporting on, Central banks around the world must raise interest rates soon to bring inflation under control, international regulators have warned.
Today in the Independent, Chinese premier Wen Jiabao arrived at Downing Street today for talks with David Cameron expected to seal more than £1 billion of deals for British business.
BBC News, the Swedish carmaker Saab has announced a big order from a Chinese company, which means it now can afford to pay its staff.
Also from the BBC News, Oil prices have extended their falls from the end of last week amid continuing concerns about the Greek debt crisis and the weak US recovery.
Reuters is reporting, French Finance Minister Christine Lagarde appeared poised to become the head of the International Monetary Fund this week despite a strong challenge to Europe's traditional hold on the job.
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