- Ben Morris
- Howard Mustoe
Last updated 14 April 2014Share
06:00Ben Morris, Business Reporter
It's been a long time coming, but wage rises are set to overtake inflation according to one economic forecaster. More on that later. Stay with the Business live page.
06:00Howard Mustoe, Business Reporter
Good morning! China has bought a Peruvian copper mine for $6bn from Glencore. More updates to come. Tweet us at @BBCBusiness or email at: email@example.com
Wages are set to rise by more than inflation for the first time in almost six years, says an economic forecaster. EY says a "long period of low inflation" means average earnings could rise faster than the cost of living as early as this month.
06:04 COPPER MINE
A Chinese consortium is buying a Glencore Xstrata copper mine in Peru in a $6bn (£3.6bn) all-cash deal, marking one of China's largest mining acquisitions. Analysts expect Glencore to use the proceeds from the sale to reduce its debt.
06:10 WAGESRadio 5 live
On Wake Up to Money Professor Peter Spencer chief economic adviser to the EY Item Club says accelerating wages show the economy is "moving on to a firmer footing". Previously people had been saving less, but demand for labour is picking up and so are wages. He also thinks that business investment will pick-up this year.
UK drug company GlaxoSmithKline is facing a criminal investigation in Poland for allegedly bribing doctors, BBC Panorama has discovered. Last December, the company announced it was making major changes to its incentive schemes after a damaging corruption scandal in China.
06:28 TAX CUTS
The Chancellor is working on a plan to cut taxes according to the front page of the Times newspaper. He will publish research by the Treasury today suggesting that cancelling planned rises in petrol duty could boost economic growth over the next 20 years by half of one percent. According to the Times, that would break with a long-held Treasury belief that tax cuts do not boost growth.
06:38 UKRAINERadio 4
John Lough, associate fellow on the Russia and Eurasia programme at Chatham House tells the Today Programme the EU may be considering economic sanctions against more members of the inner circle of Russian President Vladimir Putin. If Russia restricts gas supplies, stronger actions, including trade sanctions might be considered he says. "Russia seems to think the EU's bark is worse than its bite," he said.
06:52 HOUSE OF FRASERRadio 4
Euan Stirling of asset manager Standard Life says Sanpower's purchase of a stake in House of Fraser was a "surprise." But it may mean more investment and expansion for the retailer, and a "focus on the east rather than the west," he says on the Today Programme.
06:57 FARMLANDRadio 5 live
On Wake Up to Money we learn that over the last 10 years the price of farmland has increased 200%. James Prewett from Knight Frank says that investors have been looking for secure assets and there has been an increase in agricultural commodity prices. Recently rising prices have been driven by famers looking for new farmland, after selling existing land to property developers, he says.