Chemring record
Chemring has reported a record £106 million order book on the back of a surge in spending from the US Department of Defence. Shares in the group rose after the company reported a 27 per cent increase in profits to £6.5 million and raised the dividend by 14 per cent.
US confidence up
Confidence among American consumers rose last month to its strongest in three years as sentiment was boosted by improved jobs prospects, despite surging fuel costs. The figures came as the Treasury Secretary insisted that record oil prices would not undercut the US recovery.
EU reactor plan
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The EU will provide the site for the new International Thermonuclear Experimental Reactor. The reactor, which will be in France, aims to reproduce the physical reaction — fusion — that heats the sun, to generate a potential source of clean and inexhaustible energy.