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August 3, 2009
by Elaine Frei
Equities markets in Europe were higher Monday on new data showing that manufacturing was up in the United States, the UK and China in July.
The Institute for Supply Management reported its factory index at 48.9 in July, more of an advance than expected after being at 44.8 in June.
The FTSE 100 was up 1.61 percent to 4,682.46 in London, while ...
March 18, 2009
by Peter Charalambous
GPs have called a halt to the notion of chocolate being taxed in a similar way to alcohol and cigarettes although Dr David Walker actually the driving force behind the idea at a BMA Scotland conference in Clydebank.
The benefits of the idea would be that the increase in tax duty would be used to deal with tackle weight-related conditions and the ...
by Peter Charalambous
A Bank of England survey revealed today that consumers’ expectation of inflation have fallen to their lowest levels since May 2009 as consumers expect inflation is expected to fall to just over 2 percent over the next 12 months.
In November the same survey revealed an inflation expectation of 2.8 percent although the results themselves will heighten the Bank ...
by Peter Charalambous
In order to deal with the global economic crisis the G20 summit has been seen as a critical point whereby the world’s biggest economic powers much show unity in the face of adversity in order to tackle the crisis effectively.
The finance ministers and central bankers from across the G20 will meet in England tomorrow which will ...
by Peter Charalambous
In the aftermath of successive and continued interest rate cuts savers rates have plummeted which has meant that many investors are now finding their way back on the stock market.
Following the sixth consecutive rate cut in five months the record low interest rates have been bad news for all savers and if banks and building societies ...
by Peter Charalambous
According to the Council of Mortgage Lenders the number of mortgages given to first time buyers has fallen to a new low with just 23,400 in January.
Although the new year period is always quiet in the housing market a combination of stumbling house prices and the lack of availability of mortgages for those ...
March 12, 2009
by Peter Charalambous
A BBC reports sheds light of the unemployment trends and figures in the near future as official unemployment figures stand a 2 million but as the government has mounting debts spending cuts and tax hikes will be inevitable and as a result the peak of unemployment is likely to be much higher.
BBC forecasts reveal that this peak is likely to be ...
by Peter Charalambous
The Institute for Fiscal Studies (IFS) has found that using a survey that focuses on a typical basket of goods for those over 60, the IFS has found that inflation for pensioners is running at 5.4 percent in January whilst inflation for the general public has actually fallen to just 0.5 percent.
Home-owner pensioners have not benefited greatly ...
by Peter Charalambous
Over the last twelve months the number of billionaires has fallen by a third as the number of people across the world who are worth over £1billion fallen from 1,125 last year to 793 as the average billionaire had their net worth fall from $3.9bn to $3bn.
Collectively the world’s richest individuals had ...
March 10, 2009
by Peter Charalambous
According to a report called Litterbugs from the think tank, The Policy Exchange, a national body is needed in order to co-ordinate solutions to the UK’s litter problem which costs the taxpayer £500 million a year.
Bill Bryson, the author and president of the Campaign to Protect Rural England, has revealed that the current situation is both unsustainable and untenable ...
by Peter Charalambous
US unemployment has surged to a 25-year high as the jobless rate has increased to 8.1 percent in February. according to the Labor Department, showing that 651,000 jobs had been lost, which is the third consecutive month that job losses have exceeded the 600,000 mark.
Such a trend of heavy and continuous job cuts has never been experienced before and is ...
March 9, 2009
by Peter Charalambous
In his latest announcement, Chancellor Alistair Darling has reiterated the need to prop up Lloyds Banking Group and described the action as vital to the economy and has suggested another multi-billion pound bailout may be needed in order to secure the banking sector.
The struggling bank agreed to the taxpayer having a controlling interest after £260bn in toxic assets have ...
by Peter Charalambous
Following what can only be described as a very tough week for the US economy, Barack Obama has called for America to back him on his plans to fix the ailing economy.
The new president rallied for support over his intentioned reform to healthcare, job creation, helping homeowners and freeing up the credit market within his weekly address ...
by Peter Charalambous
The World Bank announced yesterday that it predicts that the global economy will recede for the first time since World War II, as world trade is expected to fall to its lowest in over 80 years.
The current global economic crisis will result in a multi-billion dollar shortfall in the poor and developing nations, said the World Bank.
Overall, a total ...
by Peter Charalambous
The US Central Intelligence Agency has announced record Iranian inflation, quoting the Iranian government's official estimate, Iran's inflation rate is the fifth annual highest in the world last year at 28 percent, which is also the highest in the middle east.
Zimbabwe had the highest rate in the world at 11,200,000%.
The Central Bank of Iran ...
by Peter Charalambous
According to the Office for National Statistics (ONS), factory gate inflation fell to 3.1 percent in February compared to 3.5 percent in the previous month, which means that the cost of goods that are leaving UK factories have fallen at their sharpest rate in over 16 months.
The drop is largely due to the fall in oil prices and petroleum products as ...
by Peter Charalambous
US retail sales in February have fallen for seven consecutive months as a government report has highlighted the impact of rising unemployment which has affected consumer confidence and spending.
According to the latest Bloomberg News survey, purchases have fallen by around 0.5 percent and the report from the Commerce Department, due on March 12, is predicted to reveal ...
March 6, 2009
by Peter Charalambous
As the current economic crisis takes an even steeper stranglehold on the Chinese economy with exports bearing the brunt of the difficulties, Zhou Xiaochuan, the governor of the Central Bank of China, has announced that the country will provide a rapid response if needed to cope with the slowdown.
The government has made the announcement that any decision on the ...
by Peter Charalambous
According to Halifax, houses on average are the most affordable in six years as house prices have fallen by 2.3 per cent last month alone.
The average home has lost 17.7 per cent of its 2008 value and are now at the same levels as August 2004.
The annual drop is the largest since Halifax began records in ...
by Peter Charalambous
As the current economic downturn brings together falling consumer confidence levels and heightened insecurity, the motor industry has borne the brunt of the downturn.
The latest figures produced by the Society of Motor Manufacturers and Traders (SMMT) show that car sales are down by 22 percent from last year.
New car registrations in February were 54,359, down from 69,610 the ...
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