Tag: Europe

South Korean economy sees slowdown in Q2

South Korean economy sees slowdown in Q2

South Korea, which is Asia’s fourth largest economy, has experienced growth of 3.4% in the second quarter on an annual basis, down from 4.2% in the previous quarter, according to official data today. Meanwhile, quarter-on-quarter growth was 0.8%, down from 1.3% as exports slowed and manufacturing weakened. “Private consumption steadily increased and facilities investment rose. [...]

July 27, 2011 | 0 Comments More
German analyst and investor confidence dips in March

German analyst and investor confidence dips in March

The Zew economic sentiment index has revealed German analyst and investor confidence unexpected fell in March - the first drop in five months. The index, which measures expectations of economic activity over the next six months, dipped to 14.1 points from 15.7 in February. Analysts had expected and represented a reading of 15.9. The index [...]

March 15, 2011 | 0 Comments More
China’s ICBC branches out in Spain

China’s ICBC branches out in Spain

Industrial & Commercial Bank of China (ICBC) has opened its first branch in Madrid, Spain, which will provide a wide range of financial services to 166,000 Chinese nationals living in the country. ICBC, which is the world’s largest bank by market value, has a total workforce of 386,723 and operates more than 150 foreign branches [...]

January 25, 2011 | 0 Comments More
Germany lifts 2011 growth prospects

Germany lifts 2011 growth prospects

Europe’s powerhouse, Germany, is expected to see growth of 2.3% for 2011, as domestic demand is expected to strengthen. Europe’s largest economy will grow much faster in 2011, the Government said today, with the latest forecast much higher than the 1.8% estimated in October. Economy minister Rainer Bruederle said the economy had “achieved the comeback [...]

January 19, 2011 | 0 Comments More
German analyst and investor confidence jumps in January

German analyst and investor confidence jumps in January

The Zew economic sentiment index has revealed German analyst and investor confidence surged in January. The index, which measures expectations of economic activity over the next six months, jumped to 15.4 points in January, from 4.3 last month. The reading wash much higher than analysts had expected and represented the highest level since July 2010. [...]

January 18, 2011 | 0 Comments More
Irish debt and Chinese inflation fears send markets down

Irish debt and Chinese inflation fears send markets down

Despite efforts to calm fears over Ireland’s debt problems, global markets have fallen today. The Shanghai Composite index closed down 5% as speculation mounted that the central bank could hike interest rates again to curb inflation. Yesterday, the National Bureau of Statistics (NBS) said Chinese inflation continued to increase in October, driven by higher food [...]

November 12, 2010 | 0 Comments More
European car sales fall in September

European car sales fall in September

The European Automobile Manufacturers Association (ACEA) has revealed registrations of new cars in Europe fell in September on year. According to the ACEA, 1.26 million cars were registered, a fall of 9.2% on last year’s levels. September represents the sixth consecutive monthly fall as incentive schemes to boost the ailing car industry have expired. In [...]

October 17, 2010 | 0 Comments More
IMF expresses concern over fragile financial system

IMF expresses concern over fragile financial system

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 [...]

October 5, 2010 | 0 Comments More
Global stock markets experience strong September

Global stock markets experience strong September

Stock markets throughout the world improved during September with Wall Street experiencing its biggest September recovery since the start of the Second World War - more than seven decades ago. The S&P 500 was up almost 9% during the month, while the Dow Jones gained 7.7%. Increases like this have not been seen since September [...]

October 3, 2010 | 0 Comments More
Global airlines recovering faster than anticipated

Global airlines recovering faster than anticipated

The International Air Transport Association (IATA) has today revised its forecasts for the airline industry and said the recovery had been “stronger and faster than anyone predicted”. According to the industry body, global airlines will make profits of $8.9 billion (£5.7 billion) in 2010. The figure is a sharp upward revision from the one it [...]

September 21, 2010 | 0 Comments More
London’s New Bond Street is Europe’s most expensive retail location

London’s New Bond Street is Europe’s most expensive retail location

A report by property firm Cushman & Wakefield has revealed New Bond Street in London is Europe’s most expensive retail location with rates soaring by 19.4% on year. Store rents grew to £536 per square foot per year, higher than those on Paris’ Avenue des Champs-Elysees. New Bond Street is home to exclusive brands such [...]

Irish banks pass stress test

Irish banks pass stress test

Two of Ireland’s most important financial institutions demonstrated their resilience this week by passing a European stress test. The Bank of Ireland and AIB passed the test conducted by the Committee of European Banking Supervisors in partnership with the European Central Bank. The test measured the banks’ potential to survive intact through difficult economic circumstances. [...]

July 28, 2010 | 0 Comments More
Results of European bank stress tests to be unveiled today

Results of European bank stress tests to be unveiled today

The results of the European banking stress tests are to be published today. The stress tests were conducted to ease increasing anxiety over Europe’s finance sector. A total of 91 banks from across Europe have been tested and regulators have assessed whether banks are strong enough to cope with any future economic crises, or to [...]

July 23, 2010 | 0 Comments More
European car sales fall in May

European car sales fall in May

The European Automobile Manufacturers Association (ACEA) has today revealed registrations of new cars in Europe fell in May on year. According to ACEA, 1.12 million cars were registered, a fall of 9.3% on last year’s levels. European car sales also slumped in April, by 7.4% on year, but a decline has been expected after incentive [...]

June 15, 2010 | 0 Comments More
European car sales fall in April

European car sales fall in April

The European Automobile Manufacturers Association (ACEA) has today revealed registrations of new cars in Europe fell in April on year - the first annual fall in 10 months. According to ACEA, 1.14 million cars were registered, a fall of 7.4% on last year’s levels. However, a decline was expected after incentive schemes to boost the [...]

May 17, 2010 | 0 Comments More
Nestle opposes corporate philanthropy

Nestle opposes corporate philanthropy

Companies should not waste shareholders’ money on philanthropy, the chairman of Nestle claimed this week. Peter Brabeck-Letmathe, chairman of the Switzerland-based food giant, said corporate philanthropy is a “misuse” of shareholder money, Bloomberg reports. “I’m personally very much against corporate philanthropy,” Brabeck said in a television interview. “You shouldn’t do good with money which doesn’t [...]

May 11, 2010 | 0 Comments More
Rating agency warns of ‘contagion risk’ from Greek debt crisis

Rating agency warns of ‘contagion risk’ from Greek debt crisis

Credit rating agency, Moody’s, has today warned that the credit rating of banks in Britain, Ireland, Italy, Portugal and Spain are at risk of being damaged because of “contagion” from the Greek debt crisis. Asian shares have already fallen sharply today as fears mount that the crisis would spread to other European countries. Meanwhile, Moody’s [...]

May 6, 2010 | 0 Comments More
Violent protests in Greece lead to 3 deaths

Violent protests in Greece lead to 3 deaths

Asian shares have fallen sharply today as fears mount that Greece’s crisis would spread to other European countries. In an interview with French newspaper, La Parisien, the head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, admitted earlier this week that the possible spread of the crisis was a concern. He said: “We have to [...]

| 0 Comments More
Spain downgraded as Europe debt crisis spreads

Spain downgraded as Europe debt crisis spreads

Standard & Poor’s (S&P) have today downgraded Spain’s credit rating by one notch to AA from AA+ and comes as the head of the International Monetary Fund (IMF) warned that the crisis in Greece could spread throughout Europe. Following the news, the euro fell against the dollar to $1.3129 - a level not seen since [...]

April 28, 2010 | 0 Comments More
AXA praises Britain’s young drivers

AXA praises Britain’s young drivers

Young drivers in the UK are less likely to make an insurance claim than their European counterparts, according to a new study. Research by AXA found that British motorists aged under 25 are 30% less likely to make a claim than young drivers in Spain or France, and 25% less likely than those in Germany. [...]

April 1, 2010 | 0 Comments More