News Tag: France
February 14, 2010
Official figures have revealed the euro zone economy grew just 0.1% in the final three months of 2009, suggesting the economic recovery is faltering.
The news came after poor GDP figures from the euro zone’s largest economies. Germany, which is the euro zone‘s largest economy, said GDP remained flat in the three month period, with growth unchanged compared with the ...
Euro zone economy grows just 0.1% in Q4
by Kay Murchie
February 12, 2010
The euro zone’s woes appear to be far from over today after the area’s third largest economy, Italy, unexpectedly contracted by 0.2% in the final three months of 2009, causing concern over its economic recovery.
The news comes shortly after Germany, which is the euro zone‘s largest economy, said GDP remained flat in the three month period, with growth ...
Italy’s recovery in doubt as economy contracts in Q4
by Kay Murchie
Recovery stalls in euro zone’s largest economy
by Kay Murchie
December 21, 2009
HM Revenue & Customs (HMRC) has confirmed that the bank bonus tax will not apply to staff of non-banking firms such as insurers, assets managers and stockbrokers.
There were queries about which organisations would be affected by the 50% tax, which was announced the Pre-Budget Report, but it has been confirmed that it will apply to retail ...
HMRC confirms which organisations are affected by new super tax
by Kay Murchie
December 16, 2009
French Finance Minister Christine Lagarde has today unveiled details of a 50% tax on bankers’ bonuses.
After a cabinet meeting today, Ms Lagarde told reporters that a bill detailing the new tax would be presented to parliament early in the New Year.
Any bonus above €27,500 (£24,000) will be taxed at a rate of 50% on payments given out in 2010, said Ms ...
France to introduce super-tax on bankers
by Kay Murchie
December 2, 2009
The German Government has named Joachim Metternich as the country’s new credit mediator in a bid to boost business lending.
Mr Metternich, who currently heads up the public investment bank for the western German state of Rhineland-Palatinate, will take up his role in March 2010.
The appointment comes after Germany's Economy Minister, Rainer Bruederle, and German ...
Credit mediator to be appointed in Germany to prevent another credit crunch
by Kay Murchie
November 16, 2009
Japan’s economy grew by 1.2% in the third quarter confirming that it has officially exited recession.
The news comes just a few days after France and Germany’s economies also experienced positive growth in the third quarter, while it was confirmed on Friday that the euro zone had emerged from recession in the third quarter.
The rise in Japan's GDP takes the annual ...
Japanese economy grows for second consecutive quarter
by Kay Murchie
November 13, 2009
Official figures have today revealed that the euro zone economy experienced positive growth of 0.4% in the third quarter, and therefore exiting from recession.
The 16 nations that use the euro was boosted by strong growth in Germany, and joins other major economies, such as the US and Japan, which have also exited recession.
However, the UK’s ...
UK lags behind as euro zone becomes latest economy to exit recession
by Kay Murchie
French economy grows for second consecutive quarter
by Kay Murchie
September 21, 2009
The BBC has reported that French President, Nicolas Sarkozy, wants to introduce a levy called Tobin Tax, aimed at curbing the bonus culture in the City.
Tobin tax is the suggested tax on all trade of currency across borders and was named after the economist James Tobin in the 1970s.
The proposal was suggested by the chairman of the Financial Services Authority last ...
French President pushes for Tobin Tax
by Kay Murchie
September 15, 2009
French President Nicolas Sarkozy has called on world leaders to scrap economic growth as a measure of progress.
Measuring a nation's well-being through gross domestic product (GDP) has resulted in an economic system that is destroying more than it is creating, Sarkozy said.
The president made the comments at the launch of a report he commissioned from Nobel Prize winning economist Joseph Stiglitz.
According to Stiglitz, ...
Ditch GDP says Sarkozy
by David Masters
September 7, 2009
France’s proposal of a series of mandatory caps on bank bonuses was rejected at this weekend‘s meeting of G20 finance ministers.
While the proposals made by French President, Nicolas Sarkozy, received strong European support, UK Chancellor Alistair Darling dismissed them as “unenforceable”.
Instead, the G20 group of leading economies have agreed on new regulatory measures to require banks to disclose ...
Mandatory caps on bank bonuses rejected at G20 meeting
by Kay Murchie
August 24, 2009
There are tentative signs that the manufacturing sector in the euro zone may be emerging from recession after a rise in industrial orders has been reported for the month of June.
According to Eurostat, the European statistics agency, new orders (a key indicator of industry’s future growth) rose by 3.1% during the month when compared with May.
Increases were seen in both ...
Euro zone sees rise in industrial orders
by Kay Murchie
August 14, 2009
Hong Kong has emerged from recession after the economy grew 3.3% in the second quarter.
The seasonally adjusted 3.3% compares with a revised contraction of 4.3% for the first quarter of the year.
The news follows that of Singapore, France and Germany, who have also emerged from recession.
Singapore’s economy grew an annualised 20.7% in the April to June period, while France and Germany economies ...
Hong Kong exits recession
by Kay Murchie
Euro zone economy down 0.1% in second quarter
by Kay Murchie
August 13, 2009
The German and French economies, Europe’s two largest, have both experienced economic growth during the second quarter of 2009.
The news has surprised many economists and French Finance and Economy Minister, Christine Lagarde, comments: "The data is very surprising. After four negative quarters France is coming out of the red."
Ms Largarde said that consumer spending and strong exports have helped ...
Europe’s two largest economies emerge from recession
by Kay Murchie
June 2, 2009
The European Union statistics office has today revealed that euro zone unemployment has hit a 10-year high as the 16-member nation grapples with recession.
The latest figures take the unemployment rate to 9.2% in April, up from 8.9% in March.
Almost 400,000 more people lost their jobs, taking the number of people out of work to 14.579 million - the highest level ...
Euro zone unemployment rate up to 9.2%
by Kay Murchie
May 15, 2009
As the recession continues to grip many economies, Gross Domestic Product (GDP) figures are being released this week with the euro zone the latest to provide figures.
According to the EU's statistics agency Eurostat, the euro zone economies contracted by 2.5% in the first quarter of 2009 - higher than the 2% fall predicted by analysts.
GDP in the ...
Euro zone economy shrinks 2.5%, Hong Kong suffers 7.8% fall
by Kay Murchie
German economy suffers steep decline
by Kay Murchie
May 11, 2009
Industrial production in France and Italy have experienced sharp falls in March.
National statistics office INSEE said output in France fell 1.4% in March compared with the previous month, nearly treble the 0.5% which had been expected by economists.
In the meantime, Italian national statistics agency ISTAT said monthly production in the country fell for the 11th consecutive month, down 4.6% ...
Output in France and Italy see sharp falls
by Kay Murchie
