Tag: first quarter

More than 800,000 stuck in negative equity

More than 800,000 stuck in negative equity

A report by the Council of Mortgage Lenders (CML) has revealed 827,000 mortgage borrowers are in negative equity (a mortgage worth more than their property). However, the figures which relate to the first quarter of the year, are not as bad as they were in the early 1990s, when around 1.6 million households were trapped [...]

August 9, 2011 | 0 Comments More
New Zealand economic growth beats expectations in Q1

New Zealand economic growth beats expectations in Q1

Official figures today revealed New Zealand’s economy surged in the January to March period despite the devastating earthquake which hit Christchurch, the country’s second largest city, on 22 February. The economy grew by 0.8% in the three month period – the fastest pace for over a year, according to Statistics New Zealand. The figure was [...]

July 14, 2011 | 0 Comments More
BoE reveals housing equity injection slows

BoE reveals housing equity injection slows

According to figures from the Bank of England, Britons increased their financial stake in their homes by £5.8 billion in the first quarter of 2011 – the smallest injection in a year. The figure was much lower than the £7.1 billion in the October to December period in 2010 – which represented the highest since [...]

July 4, 2011 | 0 Comments More
US Q1 economic growth figures revised upwards

US Q1 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 1.9% in the January to March period – marginally higher than the previous estimate of 1.8%. On a quarterly basis, growth was up 0.58%. Today’s reading is the third and final for first quarter growth. Stubbornly high unemployment and a depressed housing [...]

June 24, 2011 | 0 Comments More
Australia’s jobless rate holds steady at 4.9%

Australia’s jobless rate holds steady at 4.9%

Figures today revealed Australia’s unemployment rate held steady at 4.9% in May. According to the Australian Bureau of Statistics, the economy created just 7,800 jobs last month – far worse than the 25,000 analysts had forecast. However, the number was offset by a rise of 29,800 in part-time employment, which helped maintain the jobless rate. [...]

June 9, 2011 | 0 Comments More
Australian retail sales recover in April

Australian retail sales recover in April

Australia’s Bureau of Statistics today revealed retail sales recovered in April, hitting a 17-month high. Sales grew 1.1% in April on a monthly basis – the biggest rise since November 2009 and nearly three times more than expected. The figures come just a day after the Bureau revealed the economy contracted in the first quarter [...]

June 2, 2011 | 0 Comments More
India’s economic growth slows in Q1

India’s economic growth slows in Q1

May 31, 2011 | 0 Comments More
US Q1 economic growth figures remain unchanged

US Q1 economic growth figures remain unchanged

The Commerce Department has today revealed the US economy grew by an annualised 1.8% in the first quarter - unchanged from the first estimate and less than analysts’ expectations of a 2.1% growth rate. However, today’s estimate is only the second reading and the third and final reading will be available next month and could [...]

May 26, 2011 | 0 Comments More
Thailand’s economic growth boosted by exports

Thailand’s economic growth boosted by exports

May 23, 2011 | 0 Comments More
Euro zone posts economic growth of 0.8% in Q1

Euro zone posts economic growth of 0.8% in Q1

Official figures have today revealed the 17-member euro zone economy grew by 0.8% in the January to March period – up from 0.3% in the previous quarter. Germany, which is the largest economy in Europe, grew by 1.5%, while France reported growth of 1%. Other good performers were Estonia, growing by a staggering 2.1% but [...]

May 13, 2011 | 0 Comments More
Euro zone nations reveal Q1 economic growth

Euro zone nations reveal Q1 economic growth

The euro zone’s largest economy, Germany, grew by 1.5% in the January to March period – much better than forecast, according to Destatis today. On an annual basis, growth jumped 5.2% - the largest increase since reunification in 1990. Export demand helped to bring Germany out of recession in the second quarter of 2009 – [...]

May 13, 2011 | 0 Comments More
CML reports rise in repossessions

CML reports rise in repossessions

The Council of Mortgage Lenders (CML) has today reported an increase in repossessions. According to the Council, lenders seized 9,100 properties in the January to March period – a rise of 15% on the previous quarter. However, it was 10% lower when compared with the same period last year. Experts have previously argued that many [...]

May 12, 2011 | 0 Comments More
HSBC unveils cost-cutting measures

HSBC unveils cost-cutting measures

HSBC has today revealed it will embark on a massive cost-cutting exercise, just two days after it unveiled its first quarter results. The bank, which is Europe’s largest, is looking to save up to $3.5 billion (£2 billion) by streamlining its IT operations and cutting back on its wealth management and retail divisions. However, the [...]

May 11, 2011 | 0 Comments More
UK economy grows just 0.5% in first quarter

UK economy grows just 0.5% in first quarter

The Office for National Statistics (ONS) has today revealed the UK economy grew by just 0.5% in the January to March period. However, the figure was in line with expectations and follows the shock contraction of 0.5% in the final three months of 2010 – which was attributed to bad weather. The poor first quarter [...]

April 27, 2011 | 0 Comments More
Barclays report fall in Q1 profits

Barclays report fall in Q1 profits

British banking giant Barclays has today announced a fall in pre-tax profits for the first quarter. The bank said profits were 9% lower at £1.66 billion due to a 15% fall in revenues at Barclays Capital. Today’s results were lower than analysts expectations. However, profits from its retail and business banking operations rose by 21% [...]

April 27, 2011 | 0 Comments More
Markets await UK first quarter GDP figures

Markets await UK first quarter GDP figures

The Office for National Statistics (ONS) will today publish economic growth figures for the January to March period. The figures are much awaited by analysts after the economy suffered a shock contraction in the last three months of 2010 – attributed to bad weather at the end of the year. GDP is expected to expand [...]

April 27, 2011 | 0 Comments More
South Korean economy sees better than expected growth

South Korean economy sees better than expected growth

South Korea, which is Asia’s fourth largest economy, has experienced growth of 4.2% in the first quarter on an annual basis, according to official data today. The economy grew by 1.4% in the January to March quarter from the previous three months - the fastest rate in nine months. The better than expected growth was [...]

April 27, 2011 | 0 Comments More
UBS announces first quarter results

UBS announces first quarter results

Swiss banking giant UBS has today reported a net profit of SwFr1.8 billion (£1.2 billion) in the first quarter of the year. However, this represented an 18% fall on the same period a year ago but 7% higher than the final quarter of 2010. The bank, which is Switzerland’s largest, was among one of the [...]

April 26, 2011 | 0 Comments More
Morgan Stanley posts 48% fall in Q1 profit

Morgan Stanley posts 48% fall in Q1 profit

US banking giant Morgan Stanley has today announced first quarter profit fell 48% on an annual basis – primarily due to a $655 million pre-tax loss from its joint venture with Mitsubishi UFJ Financial Group. However, the fall was much less than analysts had forecast and shares rose 3.5% in early trading as a result. [...]

April 21, 2011 | 0 Comments More
Goldman Sachs profits down 21%

Goldman Sachs profits down 21%

Goldman Sachs, which is the fifth largest US bank, today reported first quarter profits were 21% lower compared with a year ago. The banking giant said net income dropped to $2.74 billion (£1.7 billion) from $3.46 billion a year earlier. However, the results were better than analysts expected. In other news today, Bank of New [...]

April 19, 2011 | 0 Comments More