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30th of December 2010
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News Tag: fears

December 16, 2010

EU summit to tackle debt crisis contagion fears

by Kay Murchie
EU summit to tackle debt crisis contagion fears
European Union leaders are to meet in Brussels today to discuss the necessary action to avoid the debt crisis spreading to weaker euro zone nations, such as Portugal, Spain and Belgium. The two-day summit will see leaders back the permanent crisis-resolution mechanism from 2013 - a deal struck last month by EU finance ministers. They are also expected to consider boosting ...




December 6, 2010

Germany against boosting EU rescue fund

by Kay Murchie
’Germany
A meeting of euro zone finance ministers is taking place today to discuss boosting the EU rescue fund in light of the debt crisis that is currently eating its way into the nation. The recent Irish bailout has done little to allay fears and speculation has been mounting that other weaker euro zone economies may need financial aid. As a result, Dominique Strauss-Kahn, ...




November 30, 2010

Contagion fears hit Italy and Belgium

by Kay Murchie
Contagion fears hit Italy and Belgium
Fears have been mounting for Spain and Portugal over recent days as borrowing costs surge but spreads on Italian and Belgian bonds have now risen as Ireland’s bailout does little to reassure the markets. The euro continues to slide, hitting a two-month low of $1.31, while London’s FTSE dived nearly 118 points to 5,550. Nick Matthews, a credit expert at RBS, told The ...




November 29, 2010

Spanish borrowing costs surge

by Kay Murchie
’Spanish
Fears of contagion were raised again today after Spain’s borrowing costs surged to 5.330% from 5.148% - an eight-year high. Markets are nervous about the current euro zone situation and fears are growing that Spain and Portugal could be next in line for a bailout as yields on 10-year bonds rise to dangerous levels – mimicking what happened in Greece and Ireland – just ...




Euro falls despite Irish bailout

by Kay Murchie
Euro falls despite Irish bailout
The euro has today hit a fresh low despite news that Ireland’s rescue package has been signed off. The single currency dipped to $1.3181 - its lowest level since late September - as investors digested the news of Ireland‘s bailout. Full details of the rescue package, which is worth €85 billion (£72 billion), will be confirmed by the Irish Government once it has been ...




November 24, 2010

Borrowing costs surge in Spain and Portugal

by Kay Murchie
Borrowing costs surge in Spain and Portugal
Once again, fears for Portugal and Spain are raised as borrowing costs surge to high levels as Ireland’s debt crisis looks set to spread. Yields on 10-year Portuguese bonds rose to 6.9% - mimicking what happened in Greece and Ireland - just before they were forced to seek emergency aid. Meanwhile, 10-year Spanish bonds surged to 4.87%. Yesterday, German Chancellor, Angela Merkel, ...




November 12, 2010

Markets recover on Irish bailout talks

by Kay Murchie
Markets recover on Irish bailout talks
Talks of an EU bailout for Ireland triggered a recovery in shares today, while yields on 10-year Irish bonds also fell back on emergency funding speculation. Earlier today, UK and Europe stock markets followed losses in Asia and the US overnight after Irish borrowing costs surged to record highs. However, claims that Ireland will have to turn to the EU rescue fund appeared ...




September 30, 2010

Ireland warns of Anglo Irish rescue bill

by Kay Murchie
Ireland warns of Anglo Irish rescue bill
Ireland’s central bank has warned that a potential rescue for troubled lender, Anglo Irish Bank, will cost up to €34.3 billion (£29 billion). The figure is much higher than last month’s estimation of between €22-€25 billion and the revised figure is the equivalent of Ireland's annual taxation revenues. The central bank said that the nationalisation of Anglo Irish Bank has cost about ...




Japanese industrial output falls for third straight month

by Kay Murchie
Japanese industrial output falls for third straight month
The Ministry of Economy, Trade and Industry has today revealed Japan's industrial output fell for the third month in a row in August, raising further fears about the strength of the economic recovery. Output fell 0.3% in August, way below analysts expectations of a 1.1% rise. The Ministry is forecasting production to fall 0.1% in September and 2.9% in October. The figures ...




September 13, 2010

Survey raises double dip fears

by Kay Murchie
”Survey
A survey by accountancy firm, BDO LLP, has revealed business confidence has slumped to a level not seen since the height of the financial crisis two years ago. The firm’s optimism index (which reflects how businesses expect trading to develop two quarters ahead), fell from 95.5 in July to 93.1 last month. According to BDO, this represents the first time the index had dropped ...




September 8, 2010

Job market growth slows in August

by Kay Murchie
”Job
A report by the Recruitment and Employment Confederation (REC) and KPMG has raised fears over the strength of the UK job market. The survey of 400 recruitment consultancies showed job appointments grew at their slowest rate since October 2009 last month. Kevin Green, chief executive of the REC, comments: “We are concerned about the UK jobs market. Growth is rapidly slowing as public ...




August 10, 2010

US Fed expected to keep interest rates at record low today

by Kay Murchie
’US
As uncertainty surrounds the world’s largest economy, investors are awaiting the outcome of the Federal Reserve's policy meeting today. The US Fed is set to announce its decision on interest rates and other stimulus measures. Interest rates in the world’s largest economy have stood at the low level of between 0% and 0.25% since December 2008. The US central ...




August 6, 2010

US unemployment rate holds steady at 9.5%

by Kay Murchie
’US
The Labor Department has revealed the world’s largest economy lost 131,000 jobs last month – again, partly due to the loss of temporary Government jobs, which were recruited to help conduct the 2010 census. The latest figures means the unemployment rate held steady at 9.5% in July - for the second consecutive month and beating expectations of a rise to 9.6%. The ...




August 3, 2010

US consumer spending flat in June

by Kay Murchie
”US
According to the Commerce Department, consumer spending in the US remained flat in June. Households in the US continue to be squeezed amid higher unemployment. Consumer spending, which makes up for more than two-thirds of overall economic activity in the US, was unchanged from May. Meanwhile, incomes failed to increase for the first time since September. Last week, official figures revealed the US economy ...




August 2, 2010

Alan Greenspan issues caution for US economic recovery

by Kay Murchie
’Alan
Alan Greenspan, the former chairman of the US Federal Reserve, has told US television that there is currently a "pause" in the US recovery. Mr Greenspan told NBC's Meet the Press programme: "We're in a pause in a recovery, a modest recovery but a pause in the modest recovery feels like a quasi-recession." He was asked if he thought the US ...




July 23, 2010

UK economy sees Q2 growth of 1.1%

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed UK economic growth for the second quarter today surged ahead by 1.1% - almost double the rate analysts had forecast. Meanwhile, economic growth rose by 1.6% on an annualised basis - the highest in two years. The UK is the first G7 country to release its quarter two GDP figures. Economists had expected the ...




ONS to publish UK Q2 economic growth figures today

by Kay Murchie
”ONS
The Office for National Statistics (ONS) is scheduled to publish GDP figures for the second quarter today - the first G7 country to do so. Analysts expect growth of 0.6% for the April to June quarter - which would represent the strongest performance since before the credit crunch. Strong growth is expected to come from a recovery in industrial output, ...




July 20, 2010

US consumer prices fall further in June

by Kay Murchie
”US
Official data from the Labor Department has today revealed that US consumer prices fell for the third consecutive month in June, by 0.1% on a monthly basis. The fall was attributed to declines in energy prices, which were down 2.9%, food prices remained flat. The fall in June followed declines of 0.1% and 0.2% in April and May respectively. However, last month’s fall ...




July 1, 2010

US Pending Home Sales Index plunges in May

by Kay Murchie
US Pending Home Sales Index plunges in May
The National Association of Realtors (NAR) today said its Pending Home Sales Index fell by 30% in May, after rising 23% between January and April. The slump was attributed to the expiration of a Government incentive – which ended on 30 April. While a fall in deals was anticipated, it was double the amount that analysts had expected. The NAR said ...




June 24, 2010

US new home sales plunge to record low in May

by Kay Murchie
US new home sales plunge to record low in May
The Commerce Department has revealed a record fall in sales of new homes in the US for the month of May. According to the Commerce Department, new single-family home sales fell by 32.7% on year to an all-time low of 300,000 units – the lowest since records commenced in 1963. However, a fall was expected as buyers rushed to ...




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