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April 27, 2008
by Peter Charalambous
The Argentine Economy Minister Martin Lousteau has resigned after just four months of President Cristina Fernandez de Kirchner's administration as the Argentine bonds slipped 1.7 percent today.
In South America's second-largest economy Lousteau has failed to gain effective control of the economy which was highlighted by his failure to control a farmers strike which resulted in food shortages and huge anti-government rallies and demonstrations across ...
April 22, 2008
by Peter Charalambous
The Bank of Canada reduced its key lending rate by half a percentage point to 3 percent.
Despite the country being gripped by a fear of an economic slowdown leading to recession like the US economy, the credit crunch has had a lesser effect of Canadian businesses in comparison to those over the border.
The global economy has weakened ...
April 17, 2008
by Peter Charalambous
With the days of easy credit over and as economic slowdown sets in the number of corporate bankruptcies in the US is increasing.
Frontier Airlines Holdings Inc filled for bankruptcy on April 11th following three other airlines.
Lynn LoPucki a professor studying bankruptcies at the University of California said that due the increased levels of distressed corporate, it is likely that failures will continue in ...
April 16, 2008
by Peter Charalambous
US produces had a marked increase in prices last month as higher gas and energy bills as well as higher food prices threaten to fuel inflation as the1.1 percent increase follows on from February’s 0.3 percent gain.
The core producer prices that do not include fuel and food still increased by 0.2 though this gain was true to the forecast, ...
by Peter Charalambous
Even though the Chinese economy has growth by more than 10 percent in the first quarter the rate of inflation still remains close to an 11 year high, which keeps the pressure of the government to act in order to stabilize prices.
In order to cool prices, China has allowed the Yuan to appreciate by ...
April 15, 2008
by Peter Charalambous
An estimated 234,000 properties were in some stage of foreclosure, as bank repossessions more than doubled last month compared to last year as more home owners have had to give up their homes.
This accounts for one in every 538 US households, with California and Florida having the highest failure rates.
Action notices are also up by 32 percent, as some homeowners are ...
April 11, 2008
by Peter Charalambous
India's inflation has accelerated which has raised the cause for concern that the central bank may increase interest rates as government bonds fell.
Wholesale food prices have surged by 7.41 percent from last year and it is the rise in commodities and food costs that has forced the Asian governments to find ways to freeze ...
by Peter Charalambous
The Chancellor of the Exchequer is calling for the International Monetary Fund, to take a greater role in the management of the worlds financial market having stated last year that the effects of the subprime mortgage crisis would not cause widespread damage.
A change of governance would mean the end of the International Monetary and Financial ...
by Peter Charalambous
India's industrial production is growing at its fastest pace in four months as a direct result form record investment in power plants and factories that are responding to the sudden increase in demand for both electricity and cement.
The Deli Statistics office revealed today that production in factories was up by 8.6 percent from a last year.
Reliance ...
April 9, 2008
by Peter Charalambous
The Bank of Japan is likely to freeze interest rates following a meeting chaired by Masaaki Shirakawa.
Deputy Governor Shirakawa, was appointed the central bank chief by Prime Minister Yasuo Fukuda yesterday has vowed along with six fellow members to uphold the overnight lending rate at 0.5 percent until the meeting is concluded.
It is unanimously agreed that more evidence ...
by Peter Charalambous
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April 8, 2008
by Peter Charalambous
Alan Greenspan the former Chairman of the Federal Reserve has said that he believes that the fall in US house prices will most likely to stop by then end of 2008 due to the reduction in the pool of houses on the market, which in turn could help an economic resurgence.
Although predictions indicate that this will not ...
April 2, 2008
by Peter Charalambous
Apartment sales in the luxury honey pot that is Manhatten have slumped to an 18 year low in the first quarter as the threats of recession looms large coupled with the cuts in jobs on wall street.
New York Real estate appraisal firm Miller Samuel released figures in a report today that make alarming reading, notably that sales have ...
by Peter Charalambous
Following concerns over recession US factory orders have fallen from 0.8 percent following the 2.5 percent decline experienced in January as companies reduce their investment plans due to the current economic climate.
Big business are making cuts following the deepest property slumps, as well as the highest energy prices on record which have constrained consumer spending following ...
April 1, 2008
by Peter Charalambous
The U.K. factory-price index rose last month March to its highest level since 1999, as the Chartered Institute of Purchasing and Supply’s gauge of producer priced rose to 60.6 which is the highest since records began; a further indication that the Bank of England would be wise to wait prior cutting interest rates further as ...
March 31, 2008
by Peter Charalambous
The economic forecast for the next year has been cut by the Swiss government, as the US fallout driven by the housing recession and faltering export demand has damaged the growth prospects.
Aymo Brunetti, the state secretariat's chief economist said that the latest economic forecast is definitely more cautious, because ``exports have been the main driver of Swiss growth in ...
March 25, 2008
by Peter Charalambous
In March a combination of continued job losses and increased oil prices have resulted in further denting consumer confidence that has fallen to a five year low, as the Conference Board's confidence index fell to 73.5 from 75 in February.
Plummeting property values have spread fear through the country and increased concern over spending in an economy that depends on consumer ...
March 20, 2008
by Elisha Sanders
Since the rescue of the company last Friday, many upscale hedge funds have begun moving away from Bear Stearns, which has caused even more damage to the crippled, former market leading, prime brokerage company.
Procedure for these sorts of companies, is to offer, among other services, trading and lending to hedge funds who pay them a great deal for this. Up ...
March 18, 2008
by Peter Charalambous
With sharp increases in the price of gas and electricity UK inflation has grown to a nine month high, which will limit the Bank f England’s ability to cut interest rates as inflation has now exceeded the 2 percent five month target.
The Office for National Statistics have said today that consumer prices have risen 2.5 percent compared to 2.2 ...
by Peter Charalambous
The growing fears in the US financial markets are putting extra pressure of the Bush administration to act in order to avoid a complete meltdown of the economy.
The collapse of Bear Stearns alongside the turmoil of the credit crunch means that recession looms large.
With the increased uncertainty surrounding the future of the economy both President George W. Bush and Treasury Secretary Henry ...
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