Cost of Euro mobile roaming falls

The European Commission wants to make roaming rates the same as domestic rates by 2015 The cost of making and receiving mobile phone calls while travelling in Europe has come down again.From today, operators cannot charge more than 32p per minute (plus VAT) for outgoing calls, and 10p per minute (plus VAT) for incoming calls.The new tariffs are the latest in a series of annual price reductions forced on the mobile industry by the European Commission.Brussels has said it aims to equalise roaming and domestic charges by 2015.Price regulation was introduced in 2007 by the then...

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UBS says Axel Weber set to be its next chairman

Mr Weber had been expected to join Deutsche Bank Swiss bank UBS has said it will nominate former Bundesbank boss Axel Weber to be its next chairman.The bank said the board would nominate him at the annual meeting in May 2012 and, if elected, he will succeed Kaspar Villiger as chairman in 2013.Mr Weber headed Germany's central bank from April 2004 to April 2011.He had been seen as a front runner to succeed Jean-Claude Trichet as chief of the European Central Bank but ruled himself out of the race in February.The appointment will see a German running Switzerland's biggest...

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China manufacturing slows as Beijing reins in growth

The manufacturing sector been one of the biggest drivers of growth in the Chinese economy China's manufacturing sector expanded at its slowest pace in 28 months following government policies to prevent the economy from overheating, according to an official survey.China's purchasing manager's index (PMI) fell to 50.9 in June from 52 in the previous month.The PMI is a key an indicator of conditions in the sector, which is a big contributor to China's growth.China is the world's second-largest economy. Even though the figure remained above the threshold level of 50, indicating...

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Eurozone manufacturing growth at 18-month low

The figures showed weakness across the board Growth in the eurozone's manufacturing sector lost steam in June as both exports and domestic demand slowed, falling to an 18-month low, a key survey has shown.Markit's Manufacturing Purchasing Managers' Index (PMI) fell to 52.0 last month from 54.6 in May, its lowest reading since December 2009.Any reading above 50 indicates growth."Increasing numbers of countries are showing signs of sliding back into recession," Markit said.Italy's manufacturing sector shrank for the first time in 20 months, while Spain's contracted for the second...

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Plunge in corn prices may ease food inflation

The price of corn suffered its biggest fall for 15 years on Thursday, prompting speculation that the high cost of food may start to ease. Corn prices fell 10% after a US Department of Agriculture report said that farmers were sowing unexpectedly large amounts of the grain. The price of other crops, including soybeans, also fell on speculation that future stock levels will remain high. Corn prices recently hit a record, helping to fuel inflation worries. The report said farmers in the vast crop regions of Iowa and Minnesota had been planting substantially more grain. Corn futures, which were just under...

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