Tesco, the world's No. 3 retailer, survived a shareholder rebellion over executive pay on Friday, when 47% of investors either voted against or abstained in a poll over remuneration at its annual meeting. The British supermarket group said its executive pay report, including a package worth over 5 mln pounds for outgoing chief executive Terry
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U.S. private payrolls rose only modestly in June and overall employment fell for the first time this year as thousands of temporary census jobs ended, showing the economic recovery failing to gain traction. Private hiring rose 83,000 after increasing only 33,000 the prior month, the Labor Department said on Friday, far short of what would
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Euro zone unemployment held stable at 10 percent in May, a sign that a long and steady deterioration in the labour market may have stalled, but the outlook remains pessimistic as austerity programmes bite. The European Union's statistical office also said prices at euro zone factory gates remained subdued in May, in line with expectations,
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Inflation in June 2010 recorded an increase of 1.9%, CyStat announced. According to the latest data released today, the Consumer Price Index for June increased by 0.22 units or 0.20% to 112.89 units, compared to 112.67 in May. This is mainly due to an increase in the prices of petroleum products, electricity and airfares. A
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Revenue from tourism recorded in May an increase of 4.2%, according to the Statistical Service. On the basis of the results of the Passenger Survey, revenue from tourism reached €164.8 mln in May compared to €158.1 mln in the corresponding month of the previous year, an increase of 4.2%. For the period January – May,
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Unemployment in Cyprus at the first quarter of 2010 amounted to 7.2% of the labour force, according to the Statistical Service of the Republic. Based on the results of the Labour Force Survey, which is carried out in accordance with a European Union Regulation, for the first quarter of 2010, the number of employed persons
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The presence of Russian Gazprombank in Cyprus constitutes a milestone in the island's position as a regional and international financial centre, President Demetris Christofias said on Thursday evening. Addressing a charity event on the occasion of the commencement of its operations in Cyprus, President Christofias said ''the choice of Gazprombank, the second largest bank of
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Turkish President Abdullah Gul said in a newspaper interview in London that Ankara saw itself as part of Europe and remained committed to the West regardless of its close links to countries in the Middle East. "I consider it very wrong to interpret Turkey's interests with other geographic regions as it breaking from the West,
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Stocks in Hong Kong and Shanghai retreated on Friday morning as liquidity tightened ahead of Agricultural Bank of China's initial public offering, with Chalco down after it cut spot alumina prices to deal with falling demand. The benchmark Hang Seng Index was down 1.38% or 277.57 points or 1.38% at a three-week low of 19,851.42
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Australia ended a damaging dispute with global miners on Friday by dumping its "super profits" tax for a lower resources rent tax backed by big miners, clearing a major hurdle to call an early election. The deal looks positive for miners and the government. Although miners will pay more tax, the total will be less
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