Asia, Europe manufacturing down, US up

Manufacturing growth in Europe and Asia eased last month, pressured by falling demand from abroad, while the US bucked the trend with growth jumping to its fastest rate in more than three years. Financial data firm Markit said US factory activity rose to its highest level since May 2010. Separately, the Institute for Supply Management said its index of US factory activity rose to 53.2 points in February, topping expectations and reversing two months of slowing growth. The US data were aided by a rebound in new orders. – Reuters Page 21

Liberty enters Melrose Arch

Liberty Group, a wholly owned division of Liberty Holdings, has acquired a 25 percent undivided share in the yield-producing assets of the Melrose Arch Precinct from Melrose Arch Investment Holdings (MAIH) for an undisclosed amount. James Wilson, the managing director of Amdec, the holding company of MAIH, said yesterday that this deal would allow it to complete the remainder of the Melrose Arch development within five years. The deal is subject to approval by competition authorities. – Roy Cokayne