* Poor reception for UK bond auction (David Oakley, The Financial Times)
Investors shunned a UK bond auction on Wednesday, with bankers saying it was one of the worst in more than 10 years.
* Manufacturers shore up profits as prices slide (Times Online)
Manufacturers are taking advantage of tumbling inflation to shore up their damaged profit margins, figures from the Office for National Statistics (ONS) suggest.
* Grocers say manufactureres are pricing goods too high (Dallas Morning News)
There’s a tug-of-war under way over food prices between the supermarkets and giant food manufacturers such as Unilever, Kraft and Kellogg.
* Factory gate inflation slows down (BBC News)
The cost of goods leaving UK factories in February rose at the slowest rate for 16 months, figures have shown.
* Oil rises above $44 despite grim US economic news (Pablo Gorondi)
Oil prices rose above $44 a barrel Friday on investor optimism that falling U.S. gasoline costs amid the worst recession in decades may increase demand for crude.Dollar weakness also helped boost oil prices, although gains were limited by news that the U.S. unemployment rate jumped to 8.1 percent in February, up from 7.6 percent in January and the highest since late 1983. Companies cut 6…
* Property prices fall �135 a day (Mirror)
The property slump has wiped out almost five years of rising prices, researchers revealed yesterday.
* Survey Sees Bank Of Mexico Cutting Rate To 7.25% In March (SmartMoney)
MEXICO CITY -(Dow Jones)- The Bank of Mexico is expected to continue cutting interest rates at a measured pace this month, with room for further easing after that, according to a survey published Thursday by Citigroup (C) unit Banamex.
* Better weather, tight orders buy retailers a better February (Anne D’ Innocenzio)
Tighter inventory control and milder weather helped retailers in February, as business at many merchants was not as bad as in January. Wal-Mart’s gains far outpaced expectations — but many stores, especially at the higher end, still struggled.
* Bank of England gambles on printing extra money (Edmund Conway, Telegraph)
It pledged for the first time in its 315-year history to effectively use printing money as its main means of controlling the economy, warning that this was the only way to prevent Britain from suffering a lengthy recession and potentially becoming mired in deflation. The move means that, for the first time, interest rates are no longer the primary tool for monetary policy, with the Bank instead…
* Unemployment rate soars to 8.1 percent (Kansas City Star)
Another 651,000 payroll jobs bit the dust in February, the Labor Department reported this morning.