Official figures today revealed Japan’s exports rose in August for the first time in six months – suggesting the world’s third largest economy is continuing its recovery from the devastating earthquake and tsunami which struck in March. According to the Ministry of Finance, exports were 2.8% higher last month on an annual basis but this [...]
Japan’s economy performed better than in expected in the second quarter, suggesting the country is slowly recovering after the earthquake and tsunami, which struck in March. According to the Cabinet Office, the economy contracted by 0.3% in the April to June period – less than the 0.7% expected by analysts. On an annual basis, meanwhile, [...]
The Japanese yen reached a post-war record high against the US dollar following last Friday’s earthquake and tsunami. The disasters have sent global shares into freefall but the worry for the world’s third largest economy is a strong yen, which continues to weaken demand for exports. Today, Japan’s Nikkei 225 index fell a further 1.4% [...]
Despite being one of the first major economies to emerge from recession – in the second quarter of 2009 – Japan faces many risks to its recovery. Not only is it battling with deflation, it struggling with a strong yen, which continues to weaken demand for exports and threatens the economic recovery. A short period [...]
Government data has today revealed Japanese exports picked up in November – for the first time since February. Exports grew 9.1% to 5.44 trillion yen in November on an annual basis, against the 7.8% reported in October. However, the figure was still short of expectations for a 10.8% gain. The improvement was attributed to strong [...]
The Bank of Japan’s (BoJ) closely watched quarterly Tankan survey has revealed business confidence has dipped – hit by a strong yen and slowing exports. The influential Tankan index revealed business confidence among major manufacturers fell for the first time in almost two years. The Tankan figures are closely monitored by the BoJ when deciding [...]
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 [...]
Official figures today showed the Japanese economy continues to battle with deflation. Figures revealed Japanese core consumer prices fell 0.6% in October compared with a year ago – representing the 20th consecutive monthly decline that the economy has been in deflation. Last month, the Bank of Japan cut interest rates to almost zero. The move [...]
Government data has today revealed a further slowdown in Japanese exports in October. Not only were the figures below expectations but they grew at their slowest pace this year, as the strong yen continues to weaken demand for exports and threatens the economic recovery. Exports grew 7.8% in October – way below the 14.3% reported [...]
The Bank of Japan (BoJ) has today opted to keep interest rates on hold between zero and 0.1%. The move comes just weeks after the Bank surprised analysts and cut rates to this level. The measures come as the economy continues its battle with deflation. Deflation is also a concern for the Japanese economy. Recent [...]
Concern has been raised for Japan’s recovery today after the Cabinet Office said the economy is at a standstill, attributed to the rising yen, which is weakening demand for exports. As a result of a rising yen, the Bank of Japan (BoJ) intervened to stem the currency against the US dollar – the first time [...]
Japan’s Prime Minister, Naoto Kan, has today said he is “very concerned about the currency situation” as the yen continues to strengthen against the US dollar. The Japanese yen is currently hovering around 15-year highs against the dollar. Last month, the Bank of Japan (BoJ) intervened to stem its currency against the dollar – the [...]
China has surpassed Japan and become the world’s number two economy and could pinch the top spot from the US in the next 15 years. In an interview with China Reform magazine, Yi Gang, China’s chief currency regulator, said: “China, in fact, is now already the world’s second largest economy.” He added: “China is still [...]
The Bank of Japan has again elected to keep interest rates on hold at the low level of 0.1%, as widely expected. It is anticipated that the Bank will leave rates at the low rate until around 2012 as a result of deflationary pressures. The world’s no.2 economy exited recession in the second quarter of [...]
There was further bad news for the world’s second largest economy today after it was revealed that Japanese core machinery orders (a highly volatile series seen as an indicator of corporate spending) fell more than expected in October. Official figures revealed Japanese machinery orders fell by 4.5% in October compared with the previous month, analysts [...]
The Cabinet Office in Tokyo has today revealed that the world’s no.2 economy grew at a far slower rate in the third quarter than previous estimates showed. According to official figures, the Japanese economy grew by 0.3% between the July and September period, rather than the 1.2% previously reported and slightly less than the 0.7% [...]
It emerged yesterday that Japan’s central bank had injected 10 trillion yen (£70 billion, $114 billion) in liquidity into financial markets to cement the recovery of the world’s second largest economy. In a statement, the Bank said the emergency fiscal measures would “firmly support Japan’s economic developments toward recovery”. However, the stimulus measures were criticised [...]
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, [...]
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