IPC in talks over sale of 'Loaded'
ONE of the iconic "lads' mags" that heralded the surge in "lad culture" to the mainstream in Ireland and the UK is to be sold. Publishing group IPC is in talks to sell 'Loaded" to Vitality Publishing, which counts 'Women's Fitness' and 'Attitude' among its titles. Terms of any deal have not yet been revealed but it is believed that the magazine's staff have been told of the impending sale and a formal consultation process has begun with employees. Along with its rival 'FHM', 'Loaded' dominated the men's magazine market from its launch in 1994. Latching on to the "Britpop" fad of the time, 'Loaded' became an iconic title of the 1990s.
Oil prices tumble to six-week low
Oil prices tumbled to a six-week low last night, heading for a second straight losing week as dismal economic data and bulging US oil inventories kept investors worried about the economy and the outlook for oil demand. Concerns about the global economy also strengthened the dollar and put pressure on the euro. A stronger dollar can affect oil prices as money shifts out of more risky commodities and also because countries with other currencies must pay more for dollar-denominated oil.
No inflation threat yet from wheat
World wheat prices are set to be high and volatile in the coming months but they do not yet threaten to trigger global food inflation, an economist at the UN's Food and Agriculture Organisation said yesterday. Expected wheat output shortfalls in drought-hit Russia, the world's third-biggest wheat exporter last year, and prospects of export curbs in neighbouring Ukraine have set international grain markets on fire in the past couple of months.
Yahoo! may buy stake in Hulu
Yahoo! may buy a "considerable" stake in Hulu if the video website pursues an initial public offering, according to Stifel Nicolaus. Hulu, which is owned by three of the biggest US broadcast networks, is preparing a share sale as early as this year that may value the company at more than $2bn (€1.57m), a person with considerable knowledge of the plan said. Yahoo!, owner of the second-most popular US internet search engine, would consider acquiring a stake in Hulu to solidify itself as an entertainment destination and a "must-buy" for advertisers, Jordan Rohan, an analyst with Stifel Nicolaus in New York, wrote in a note.