Official figures have today revealed the Japanese economy grew faster than estimated in the third quarter due to stronger corporate spending. The world’s third largest economy grew by 1.1% in the July to September period, up from the first estimate of 0.9%. On an annual basis, the economy expanded by 4.5% from an earlier estimate [...]
The latest quarterly report released by the White House has revealed the multi-billion dollar stimulus package created between 2.5 and 3.6 million jobs. This was higher than an original estimate of 2.2 million to 2.8 million jobs and suggests the package has been even better for the economy than previously thought. Furthermore, the report suggested [...]
The International Monetary Fund (IMF) has today cut its forecasts for 2010 for Europe’s largest economy. The IMF said it now expects Germany to expand by 1.2% this year, lower than its previous estimate of 1.5%. Furthermore, it has cut its 2011 forecast of 1.9% growth to 1.7%. Washington-based IMF attributed the downgrade to weakness [...]
As widely expected, the Reserve Bank of Australia (RBA) has raised interest rates from 3.75% to 4%. The RBA has increased interest rates four times since October and many analysts believe interest rates could hit 4.25% in the short-term. Australia is one of the few developed economies not to have fallen into recession like its [...]
In its latest forecast for the world’s largest economy, the US central bank, the Federal Reserve, has said economic growth will be between 2.8% and 3.5% in 2010 – better than its previous forecast of 2.5% to 3.5%. However, the Fed has warned that despite strong growth for this year, unemployment will remain high. Earlier [...]
Minister of Industry and Information Technology Li Yizhong said China’s Government is targeting economic growth of around 8% in 2010. In a bid to boost China’s economy, which is the world’s third largest, the Government embarked on a massive stimulus package of infrastructure projects to create jobs. The stimulus package appears to have been successful [...]
In order to prevent the world’s second largest economy falling back into recession, Japan’s Government is to pump a further 7.2 trillion yen ($81 billion; £48 billion) into the economy. Japan’s economy emerged from recession in the second quarter of 2009 and also experienced positive growth in the third quarter. However, there have been fears [...]
Jean-Claude Trichet, President of the European Central Bank (ECB), has said liquidity measures will be scaled back in order to ensure it doesn’t fuel inflation. Currently the inflation rate within the 16 nations that use the euro is 0.5% but at the start of the summer, inflation turned negative for the first time, declining to [...]
There is more good news for the world’s third largest economy today after China’s National Bureau of Statistics revealed a surge in industrial output. Industrial output rose to a 19-month high of 16.1% in October compared with a year earlier, exceeding market forecasts of 15.5%. Last month, official figures revealed that Chinese GDP growth surged [...]
A meeting of G20 finance ministers at St Andrews in Fife saw an agreement to maintain financial support until recovery is ensured. The agreement was reached following concerns over rising unemployment and unsteady growth which saw finance ministers from developing and rich countries vow to keep fiscal measures in place until global recovery is assured. [...]
Official figures today have revealed that the US economy expanded at an annualised rate of 3.5% between the July and September period, suggesting that the economy has exited its worst recession in 70 years. The figures have come as no surprise after many economists had expected that the economy would experience positive growth in the [...]
Figures due at 1230 GMT will reveal if the US economy has exited recession. The US entered the current recession in late 2007 and many analysts believe the world’s largest economy will have exited recession by experiencing positive growth of 3% in the third quarter (according to David Buik at BGC Partners). However, there are [...]
Official figures show that Chinese GDP growth surged to 8.9% in the July to September period, up from 7.9% in the April to June period. The strong result was due to all sectors performing strongly and was the fastest GDP growth since quarter three last year. Many analysts have described China’s recovery as “impressive”. In [...]
The Congressional Budget Office (CBO) yesterday announced that the US budget deficit could hit a record $1.4 trillion (£877 billion) in the fiscal year to 30 September 2009. The previous record deficit was $459 billion – set last year. The CBO said the forecast federal deficit for the 2009 fiscal year was the highest shortfall [...]
The White House and Congress have both warned that the US Government budget deficit will surge to almost $1.6 trillion (£978 billion) this year – the highest level ever recorded. Furthermore, the White House is forecasting that the deficit will grow to $9 trillion over the next decade – a rise of $2 trillion from [...]
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 [...]
The International Monetary Fund recently singled Australia out as the strongest performing economy in the developed world but it seems the economy is not immune from rising unemployment. While the increase in unemployment for the month of June was less than expected, the rate has still hit a six-year high of 5.8% in June, rising [...]
In April, business morale in France increased following record lows in previous months and this has increased the speculation that the worst of the recession is seemingly over. The French national statistics office announced today that its business confidence index increased to 71 points in April, three points higher than in March and two points [...]
The latest figures from the Institute for Fiscal Studies (IFS) shows that the UK will need to raise an extra £39 billion a year for the next five years if the Government is going to balance the books by 2015. This would mean that if the money was to be raised solely through an increase [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
