Chinese steelmakers question Platts pricing data on iron ore

Chinese doubt follows raids connected to alleged manipulation of oil marketsConcerns about the accuracy of benchmarks published by price reporting agencies (PRAs) has spread to the iron ore markets with Chinese steelmakers questioning the reliability of indices from Platts.The China Iron & Steel Association and one of its largest members, Jiangsu Shagang, believe benchmark numbers […]
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Minimum wage to rise but 1% hike for young falls behind inflation

Vince Cable defends lower 4p and 5p an hour rise for under-21s as adult minimum wage increases by 12 pence an hourThe minimum wage for young people is to rise by 1%, less than the rate of inflation, amid an on-going row over rewards for top executives and bankers at bailed-out banks.The business secretary, Vince […]
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Tax year 2013/14: changes to allowances and benefits

6 April ushers in the new tax year – we round up the range of changes being introduced by the governmentAs the new tax year dawns on 6 April a range of changes are introduced to the tax system. These include increases in some allowances, new rules for people reaching state pension age, and cuts […]
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Undergraduate drop-out rate falls to 7.4%

University students may be trying to recession-proof their job prospects in a more competitive marketThe number of students dropping out of university has fallen steeply, official figures show, possibly because young people are trying to protect themselves from a fiercely competitive job market.The most recent statistics – from 2010-11 – show 7.4% of full-time undergraduates […]
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Greenland government falls as voters send warning to mining companies

Siumut party, led by Aleqa Hammond, to form coalition government in place of Kuupik Kleist’s administrationThe race for resources in the frozen wastes of the Arctic has brought down its first national government, leaving foreign oil and mining companies shivering about the future. Voters in Greenland feared that ministers were surrendering their country’s interests to […]
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Bank lending falls by £2.7bn in final quarter of 2012, says Bank of England

Three major banks cut back on loans as building societies use cash from government’s funding for lending schemeBank lending dived by £2.7bn in the final three months of last year after Lloyds, Santander and Royal Bank of Scotland cut back on business and mortgage loans, according to Bank of England figures.The three major banks offset […]
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