Thursday, 10 January 2013

World News Update - 10th January 2013

- In the UK, following a three month consultation process, the Office for National Statistics has decided not to make any changes to the way the retail prices index is calculated. This is a surprise, as changes were widely expected.

- Research by the Institute of Mechanical Engineers has concluded that up to 50% of the four billion tonnes of food produced worldwide each year ends up being thrown away. The study also concluded that 550 billion cubic metres of water is used to grow crops that are never eaten.

- In China, better than expected December import and export data indicates the economy may be rebounding, alleviating earlier concerns caused by growth falling to a three-year low. Exports were 14% higher than in December 2012, whilst imports rose by 6%. These figures point to an increase in demand both inside China and worldwide.

- Following a visit to North Korea, Google's Chairman, Eric Schmidt, has urged the country to allow its citizens to use the internet

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