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18th of October 2010
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News Tag: future

October 3, 2010

Leading economist fears for future of euro

by Kay Murchie
Leading economist fears for future of euro
Nobel prize winner, Joseph Stiglitz, has expressed his concern for the euro and the euro zone’s fragile recovery. Sixty-seven-year-old Stiglitz, the former chief economist of the World Bank, warned that the future of the single currency is bleak, while the region’s recovery is threatened by a series of austerity measures, which have been introduced by many European Governments. Stiglitz, who is ...

July 23, 2010

ONS to publish UK Q2 economic growth figures today

by Kay Murchie
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, ...

May 20, 2010

Retail sales up in April

by Kay Murchie
The Office for National Statistics (ONS) has today revealed a slight rise in retail sales for the month of April - boosted by stronger clothing and department store sales. According to the ONS, sales volumes including fuel grew 0.3% in April - slightly beating analysts' forecasts of a 0.2% rise and follows a revised increase of 0.5% in March. On an annual basis, ...

December 16, 2009

Future of the cheque book to be decided today

by Kay Murchie
The use of the cheque book continues to decline as consumers opt for quicker payment methods and, as a result, the cheque clearing system could end by 2018. Major retailers such as Tesco and Sainsbury’s no longer accept cheques, arguing that phasing out the use of cheques in stores resulted in quicker service and improved security for consumers. ...

November 23, 2009

WHSmith walks away from Borders deal

by Kay Murchie
WHSmith has abandoned talks with bookshop chain Borders, which is set to see Borders UK enter administration unless a sale is imminent. Borders is understood to not have sufficient cash to see it through to Christmas as it has suffered amid increased competition from supermarkets and online retailers, such as Amazon. As a result, the chain has been in talks with ...

October 27, 2009

Uncertain future at London Lite Newspapers

by Kay Murchie
Free evening newspaper, London Lite, has seen its future thrown into doubt today after its owner Associated Newspapers said it would begin a consultation with its employees. London Lite, which is currently losing almost £10 million a year, was launched on 30 August 2006 but its owner has recently expressed concern about the "commercial viability" of the paper. The paper employs 36 ...

October 13, 2009

HSBC Insurance urges financial planning amid recession

by Kay Murchie
HSBC Insurance is warning consumers to review their finances amid the current economic climate. The fact remains that many have had to tighten their purse strings but HSBC Insurance is urging consumers to review their finances in order to limit the adverse impact of the economic downturn on their finances in the future. The insurer is concerned that as finances become tight, ...

October 7, 2009

Consumer confidence index reaches highest level since April 2008

by Kay Murchie
It appears that many consumers believe the worst of the recession could be over after the Nationwide Consumer Confidence Index rose from a revised 65 in August to 71 in September - the highest level since April 2008. According to the Nationwide, the index is also 24 points higher than it was this time last year, suggesting that consumers ...

August 13, 2009

US Fed holds interest rates and is optimistic for the future

by Kay Murchie
The US Federal Reserve has yet again unanimously kept interest rates on hold at between 0% and 0.25% - as widely expected. The US Central Bank said that the current low levels of interest rates will likely continue "for an extended period" to aid the continuing recovery of the world‘s largest economy. The Fed also talked of ...

August 3, 2009

Barclays upbeat about future as profits soar

by Kay Murchie
Banking giant Barclays, which has so far turned down financial help from the Government, has today announced pre-tax profits of £2.98 billion for the first six months of the year. While the bank’s profits came slightly under analysts' forecasts of over £3 billion, they were up 8% compared with the same period a year earlier. Unlike its rivals, Barclays has so far ...

July 15, 2009

Bank of Japan keeps interest rates on hold and is optimistic for the future

by Kay Murchie
Japan's central bank has voted unanimously to keep interest rates on hold at 0.1%, as widely expected. However, while the Bank was optimistic for the future, it noted the continued weakness in consumer spending, as well as a sharp fall in capital spending by companies. Private consumption, which makes up for over half of the ...

July 8, 2009

Nationwide Consumer Confidence Index rises to 9-month high

by Kay Murchie
People are becoming more positive about the economy after the Nationwide Consumer Confidence Index recorded a rise in June. The reading increased from 54 in May to 58 in June and reflects the fact that consumers are becoming more upbeat about the future. According to the Nationwide, the main driver behind the rise in confidence has been in the Expectations ...

June 16, 2009

Japan keeps interest rates at 0.1% and looks optimistic for the future

by Kay Murchie
Japan’s economy looks set to be improving after it has experienced a rise in exports, production and public investment. The export-dependent economy has been hit by a slump in demand for its products overseas, particularly cars and electrical goods but this looks set to change after the Bank of Japan (BoJ) said “the country’s economic conditions, ...

June 11, 2009

West Bromwich BS in rescue plan

by Kay Murchie
It is understood that the West Bromwich Building Society is to be rescued within days after weeks of speculation about its future. However, savers and mortgage borrowers have been assured that it’s business as usual since the rescue will not affect customers. There were talks last month that the country's eighth largest building society was in rescue talks after it was reported that ...

April 16, 2009

Nokia’s future uncertain as profits fall by 90%

by Peter Charalambous
Nokia, the largest mobile phone company is struggling through the recession as sales have slumped leaving huge holes in sales forecasts as revenues have fallen by 27 percent to just €9.3bn (£8.2bn). This has been caused by the fact that 18 million fewer handsets were sold in the first quarter of 2009 - a fall of 19 percent. Furthermore, a worse-than-expected ...

October 28, 2008

BoE: Rethink needed to avoid a repeat of crisis

by Kay Murchie
The Bank of England’s twice-yearly Financial Stability Report has been published and has revealed that tougher regulation and constraints on lending are required in order to safeguard against future risk. Looking at the longer-term credit crunch issues, according to the Bank of England, banks would need to increase their deposit bases to make them less reliant on wholesale ...

September 28, 2008

Fortis in rescue talks

by Kay Murchie
Belgian-Dutch financial group Fortis has been in rescue talks over the weekend after concerns have been raised about its future. The Belgian government, regulators, and the Dutch central bank are all involved in the talks with a deal to be announced by tomorrow morning. Fortis, which is Britain’s third-largest private car insurer, based on volume, and the fourth-largest travel insurer, went out of its ...

September 18, 2008

Fears for the future of Goldman Sachs and Morgan Stanley

by Kay Murchie
Fears for the future of Goldman Sachs and Morgan Stanley
The remaining two independent investment banks on Wall Street are today surrounded by merger speculation after shares in the two organisations plummeted over recent days. Despite assurances from Goldman Sachs and Morgan Stanley, investors have still abandoned ship. Monday saw the collapse of Wall Street giant, Lehman Brothers, which was forced to file for bankruptcy after announcing it had ...

June 10, 2008

Three-year decline could take 50% off UK house prices

by Gill Montia
Three-year decline could take 50% off UK house prices
Analysts who specialise in futures trading are forecasting a minimum three-year decline in UK residential property prices that will take 50% off values in real terms. According to experts who predict long-term investment potential, the process will begin with a 10% fall in house prices during 2008, followed by a 10.5% drop in 2009. Prices could then bottom out ...

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