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30th of December 2010
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News Tag: concern

November 12, 2010

Indian industrial output growth slows

by Kay Murchie
”Indian
Figures published today revealed a slowdown in industrial output in India - which fell to a 16-month low. India’s statistics office said output grew 4.4% on an annualised basis in September - less than expected and down from August’s 6.9% growth. Federal finance minister, Pranab Mukherjee, described the industrial slowdown as a "matter of concern" and the figure fell far short of the ...




October 6, 2010

IMF fears currency war after interventions by central banks

by Kay Murchie
”IMF
Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has expressed his concern for a currency war. According to Mr Strauss-Kahn, if Governments across the world use exchange rates as a policy weapon, there could be a serious risk to global economic recovery. His comments come ahead of the IMF and World Bank annual meeting in Washington later this ...




October 5, 2010

IMF expresses concern over fragile financial system

by Kay Murchie
’IMF
In its half-yearly health assessment of the financial system, the International Monetary Fund (IMF) has said it is concerned about the global financial system. The crisis in the European sovereign debt markets has meant the prospects for global stability have been pushed back, said the IMF. The crisis is Europe has recently been exacerbated by the problems in Ireland - although ...




September 29, 2010

UK consumers opted to repay unsecured debt in August

by Kay Murchie
”UK
Figures from the Bank of England today revealed that British households opted to repay loans and overdrafts last month. The figures are evidence that consumers are concerned about the uncertainty surrounding the economy and massive spending cuts, opting not to go further into debt. According to the Bank of England, consumers repaid a net £120 million in unsecured loans during ...




Ireland’s unemployment rate dips in September

by Kay Murchie
”Ireland’s
The Irish Central Statistics Office (CSO) has today revealed the jobless rate dipped to 13.7% in September, down from 13.8% in August. However, the rate remains a concern and compares with a rate of 10% for the euro zone and 7.8% for the UK. In the meantime, the CSO said there was a fall in the number of people claiming benefits. According to ...




BoJ Tankan survey reveals sentiment up, but outlook grim

by Kay Murchie
”BoJ
The Bank of Japan’s (BoJ) closely watched quarterly Tankan survey has revealed business confidence continues to rise, despite concerns about a strong yen. The Tankan index revealed business confidence among major manufacturers had picked up for the sixth consecutive quarter, rising to a better than expected reading of 8 in September, from 1 in June. The Tankan figures ...




September 27, 2010

Anglo Irish debt rating cut by Moody’s

by Kay Murchie
”Anglo
Troubled lender, Anglo Irish Bank, has today had its debt rating slashed by credit agency Moody's, sending the euro down against the US dollar. Moody's cut the bank's senior unsecured debt by three notches to Baa3 - just one notch above junk status. It also downgraded Anglo Irish's subordinated debt by six notches to Caa1. The bank, which was nationalised in January 2009, ...




Japanese exports slow further in August

by Kay Murchie
”Japanese
Government data has today revealed a further slowdown in Japanese exports in August - the sixth consecutive month in which they have eased. The figures raise concern that the economic recovery is faltering. Exports rose 15.8% in August to 5.22 trillion yen on an annual basis - well below the 45.3% high seen in February. Meanwhile, imports rose 17.9% to 5.12 trillion yen, ...




August 5, 2010

US jobless claims rise unexpectedly

by Kay Murchie
’US
Official figures show that the number of US workers filing new claims for jobless benefits rose unexpectedly last week to a high not seen since April. The figures show that initial jobless claims rose more than 4% to 479,000 in the week ended July 31, according to the Labor Department. Analysts had expected a fall to 455,000. It reflects "a recovery that is losing steam," ...




August 3, 2010

US Pending Home Sales Index plunges to 9-year low

by Kay Murchie
US Pending Home Sales Index plunges to 9-year low
The National Association of Realtors (NAR) today said its Pending Home Sales Index fell by 18.6% in June on year. On a monthly basis, the index fell by 2.6% to 75.7 points based on contracts signed in June compared with May. As a result, the index fell to the lowest level since records began in 2001. The slump was attributed to ...




Australia continues to put brakes on rate hikes

by Kay Murchie
”Australia
The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5% after a series of aggressive rate hikes since October. It is the third consecutive month in which rates have been at this level but economists say the central bank will only leave rates on hold for the short-term. Australia was the first economy ...




July 26, 2010

Japanese exports continue to rise in June

by Kay Murchie
”Japanese
The finance ministry has today revealed Japanese exports continued to rise in June, albeit at a slower pace. Exports grew 27.7% to 5.87 trillion yen in June - the seventh straight monthly rise. However, not only did the figure fall short of expectations of a 23.1% rise, it was also below May’s increase of 32.1%. Meanwhile, imports surged by 26.1% to 5.18 trillion ...




July 7, 2010

Think tank concerned for unemployment in rich economies

by Kay Murchie
”Think
Economic think tank, the Organisation for Economic Co-operation and Development (OECD), has today said unemployment remains a concern in rich economies. In particular, the OECD has expressed concern for the UK economy, after the Government axed investment for job programmes. It believes the unemployment rate will hover around the 8% mark for at least the next 18 months. While the OECD ...




June 7, 2010

Nationwide small cash counter withdrawal ban comes into force

by Kay Murchie
’Nationwide
From today, the Nationwide Building Society will attempt to reduce its queues by making customers with cash cards withdrawing less than £100 to use the branch cash machine. The Nationwide said the change, which was announced in April, is essential and the move is aimed at speeding up transactions and freeing up staff time to deal with other ...




May 13, 2010

UK trade deficit widens in March

by Kay Murchie
’UK
The Office for National Statistics (ONS) has today revealed the UK’s trade gap widened in March, due to a surge in imports. According to the ONS, exports rose by 1% in March, but imports accelerated 5.2% in the month - the fastest rate since September 2009. The surge in imports meant the trade gap rose to £3.7 billion in March from £2.2 ...




April 6, 2010

CBI calls for public sector pensions shake-up

by Kay Murchie
CBI calls for public sector pensions shake-up
Business group, the Confederation of British Industry (CBI), is calling for an overhaul of public sector pensions as concerns over the affordability of pensions for workers in the state sector, including nurses, teachers and the police, is growing. The CBI is urging the next Government to establish an independent commission within weeks of being elected to review the pensions paid ...




March 23, 2010

NAR reports fall in US home sales

by Kay Murchie
NAR reports fall in US home sales
The National Association of Realtors (NAR) has today revealed a further fall in sales of previously owned homes in the US for the month of February. The industry body said sales fell 0.6% in the month to an annual rate of 5.02 million units (an eight-month low), down from 5.05 million the previous month. February’s fall was the third consecutive month ...




January 4, 2010

Finance chiefs upbeat according to survey

by Kay Murchie
”Finance
A survey conducted by the accountant, Deloitte, has revealed that the chief finance officers (CFOs) of Britain’s leading companies are at their most confident for two years. According to its quarterly survey in which 128 CFOs were questioned, Deloitte found that finance chiefs are more confident and less worried about liquidity and the banking system. However, while nearly four in five CFOs surveyed ...




September 8, 2009

Economist Joseph Stiglitz fears for ‘W’ shaped recession in US

by Kay Murchie
Economist Joseph Stiglitz fears for ‘W’ shaped recession in US
Despite recent signs of an imminent recovery within the US, Nobel Prize-winning economist Joseph Stiglitz has expressed his concern for a "double-dip" recession in the world’s largest economy. Mr Stiglitz, who said he has been consulted on an informal basis by the Obama Administration to discuss economic issues, said "the prospects of a robust recovery are very, very ...