But there are other clear signals that the American economy is recovering strongly from its pause, with an ever-tighter labour market and upward pressure on wages. Further pointers to economic strength are likely to send bond yields CommunityDevo up again. history Themes They htm are already at their highest for a year.The evidence CommunityDevo htm on the UK economy is more mixed, but signals such as rapid monetary growth, a strengthening consumer sector and rising asset prices have been interpreted in Themes some history quarters as early inflation CommunityDevo warnings. Mr MacDougall said Themes yesterday that history utilities would be under fire again this year.. The first few months of this year have not been kind CommunityDevo htm to the gilts market Themes and there is not much chance history Themes that matters htm will improve with the arrival of spring. A minimum pounds 1,000 investment is another proposal being touted by Shell.Several other htm companies have already been hit by environmental activists as the agm season enters into full swing.Pirc, whose pension fund and investment management clients control assets worth pounds 100bn, gained publicity last year when it tabled a CommunityDevo special resolution at the annual general meeting of British Gas calling for the way executive pay history and perks are set to overhauled.

Shell wants only serious long-term investors to attend and speak at meetings. One suggestion is that individuals should be shareholders for at least a year. It is particularly concerned about the company's policy towards the Ogoniland region of southern Nigeria where many of its oil activities are based."The company has had six weeks to respond but so far we have received two letters which have effectively said nothing," Mr MacDougall continued.The issue came to a head in November when long-time Shell critic Ken Saro-Wiwa was hanged along with eight other activists by the Nigerian authorities as Commonwealth leaders assembled for a summit in Auckland, New Zealand.Shell, which pumps about half of Nigeria's oil, this week gave commitments to clean up spills and resume community action programmes in the Ogoni area.Shell is also planning to tighten rules governing shareholder entry to annual meetings to deter environmental and human rights activists gaining publicity.At the moment protesters can gain access by owning just one token share. Pirc, the corporate governance consultancy, is urging its clients to vote against Shell's report and accounts at the annual general meeting next Wednesday in protest at the oil company's activities in Nigeria.

"We have serious reservations about Shell's policies in relation to the environment and human rights," said Alan MacDougall, Pirc's joint managing director. "We do not consider that its response to shareholder concerns has been adequate to date." Pirc says that following requests from pension fund clients last autumn it held a series of meetings with Shell about its role in Nigeria. However, dealers were speculating that any bid would have to be pitched at 260p-275p a share putting a price tag of pounds 2.3bn to pounds 2.4bn on the company.Lucas has been vulnerable to a bid since its chief executive George Simpson confirmed two months ago that he is leaving to take over from Lord Weinstock at GEC.Mr Simpson is on record as believing that the car components industry will be dominated by a handful of large players and that to survive Lucas would have to grow much bigger.It considered forging an alliance with the French component supplier Valeo by buying Carlo de Benedetti's 30 per cent stake in the business but rejected the idea in favour of talks with Varity, which owns the diesel engine manufacturer Perkins and is the US's biggest brake manufacturer.Market report, page 20. Takeover rumours have gathered pace following the group's confirmation that it is in merger talks with the US brakes and diesel engine group Varity. Dealers believe these talks will fail and that a rival bid will be tabled. Suitors being mentioned yesterday include General Motors, the world's biggest car company, TI, Siemens of Germany, and fellow UK automotive componet groups GKN and T&N.Shares in Lucas rose 11p yesterday to 234p valuing the group at pounds 1.95bn. Thereafter, half the audience share of any additional franchise would count toward the overall 15 per cent ceiling, up to the point deemed by the ITC to constitute control..