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Your support makes all the difference.Pay awards rise to 2.5%
Industrial Relations Services' pay databank shows private sector awards in the three months to the end of February rose to 2.5 per cent after reaching a low of 2.1 per cent in the final quarter of 1993.
By historical standards, pay pressures remain muted. Private sector wage deals remain 0.5 percentage points below their level a year ago. Settlements peaked at 9.5 per cent in the summer of 1990, the highest recorded since IRS set up the databank in May 1984.
Chinese forex
A Chinese interbank currency market opened on Monday as part of Peking's efforts to tighten its grip on capital flows and move towards currency convertibility. The first day of operation on the National Foreign Exchange Trading Centre went smoothly, traders said. The Chinese yuan opened at 8.6810 to the US dollar and edged lower to end the 11 2 -hour session at 8.6908.
MBO recovery
A survey by the Centre for Management Buy-out Research found that despite a sharp fall in both the number and value of UK buy-outs and buy-ins in 1993, there was a recovery in the first quarter of 1994, to 125 deals worth pounds 675m from 114 deals worth pounds 577m in the same period last year. A recovery in exits, especially through flotation, had led to an increase in optimism.
TODAY 5.4.94
Interims: A Beckman
Finals: Bletchley Motor Gp, Clarke Nickolls & Coombs, Frank G Gates, Home Counties Newspapers, Intl Business Communications, Quarto Group, Severfield-Reeve, Stylo, Thompson Clive Investments.
AGM: GWR Group.
TOMORROW 6.4.94
Interims: Manchester United
Finals: City Centre Restaurants, Irish Life, Pittards.
AGMs: Baldwin, Heavitree Brewery, Inveresk, Alfred McAlpine.
Economic statistics: UK official reserves (March); full monetary statistics, including bank and building society balance sheets, (Feb); M0 figures (March - prov); bill turnover statistics (Feb); official operations in the money markets (Feb); lending secured on dwellings (Feb); sterling commercial paper (Feb); sterling certificates of deposit (Feb); government deficit and debt under Maastricht Treaty.
THURSDAY 7.4.94
Interims: Black & Edgington Gp, TR City of London Trust, Wardle Storeys.
Finals: Alexandra Workwear, Amec, Brammer, Goldsmiths, Gowrings, Hewden Stuart, Invesco, Middlesex Hldgs, Owen & Robinson, Regal Hotel, Sentry Farming, James Wilkes.
AGMs: British Petroleum, Burford Hldgs, Lloyds Bank, Owners Abroad EGMs Heiton Hldgs.
Economic statistics: Index of output of the production industries (Feb); details of employment, unemployment, earnings, prices and other indicators; advance energy statistics (Feb); housing starts and completions (Feb); housing renovations (Q4).
FRIDAY 8.4.94
Finals: Chepstow Racecourse, Laird, New Ireland Hldgs, QS Hldgs.
AGM: City Merchants
Economic statistics: Cyclical indicators for the economy (Feb).
WORLD MARKETS
NEW YORK: Inflation fears ambushed share prices. By the close, the Dow Jones average was down 42.61 points at 3,593.35.
TOKYO: Fears of a collapse on Wall Street sent the Nikkei index down by 154.94 points to 19,122.22.
HONG KONG: Market closed.
SINGAPORE: Concern about the possibility of higher interest rates in the US pushed the 30- share Straits Times Industrials Index down by 41.78 points to 2,039.12.
BOMBAY: Expected institutional orders did not materialise, leaving the BSE 30-share index to edge up by just 1.86 points to 3,780.85.
FRANKFURT: Market closed.
PARIS: Market closed.
LONDON: Market closed.
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