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Wednesday 16th of June 2010

News Tag: low

May 24, 2010

NAR reports surge in US home sales in April

by Kay Murchie
NAR reports surge in US home sales in April
The National Association of Realtors (NAR) has today revealed a rise in sales of previously owned homes in the US for the month of April, boosted by the expiration of a Government tax credit, which ended last month. The industry body said sales surged 7.6% in April (a five-month high) to an annual rate of 5.77 million units, up ...



February 24, 2010

Federal Reserve chairman pledges low interest rates for long-term

by Kay Murchie
Federal Reserve chairman pledges low interest rates for long-term
Chairman of the Federal Reserve Ben Bernanke has today said US interest rates will need to stay low in order to keep the economic recovery on track. In a testimony before Congress, Bernanke said there was a "nascent economic recovery" and said long-term recovery will depend on private sector’s demand for goods and services. Bernanke, who was recently awarded ...



February 17, 2010

ISAs continue to grow in popularity

by Kay Murchie
”ISAs
Research by the Halifax has revealed the growing popularity of Individual Savings Accounts (ISAs). The Halifax, which is now part of the Lloyds Banking Group, said the number of accounts opened in the nine years to March 2009 surged by 53%. At the start of the millennium, there were 9,000 subscribed ISA accounts, but this grew to more than 14,000 in 2009. In ...



January 18, 2010

Shares in Japan Airlines fall to fresh low of 5 yen

by Kay Murchie
”Shares
Shares in troubled Japan Airlines (JAL) plummeted again today to a fresh low of 5 yen as a bankruptcy filing seemed unavoidable. The airline, which is Asia’s largest carrier, is expected to file for bankruptcy protection tomorrow as part of a Government rescue plan. Like many other airlines, it has been struggling amid the global economic downturn ...



January 8, 2010

New pension scheme set to be called NEST

by Kay Murchie
New pension scheme set to be called NEST
The Personal Accounts pension scheme, which is aimed at encouraging low to middle income workers to save for their retirement, is to be re-branded as the National Employment Savings Trust (NEST). NEST will be one option open to employers who will have to enrol workers into a workplace scheme. Employees will be enrolled automatically in the scheme unless they opt out, ...



January 3, 2010

Japanese Government to double credit line for JAL

by Kay Murchie
”Japanese
Struggling Japan Airlines (JAL) has had its credit line doubled to 200 billion yen (£1.3 billion) after an agreement by the Japanese Government today, according to Kyodo news agency. The extra funding was agreed by Deputy Prime Minister Naoto Kan, Transport Minister Seiji Maehara and other ministers at a meeting this weekend. A statement said: "The government has decided ...



December 30, 2009

Japan Airlines shares hit fresh record low

by Kay Murchie
Japan Airlines shares hit fresh record low
Shares in troubled Japan Airlines (JAL) plummeted to a fresh low today, losing 24% to 67 yen. The stock plummeted for a second consecutive day amid reports that the carrier is heading towards bankruptcy under a state restructuring plan. The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to a slump in demand. Many ...



August 20, 2009

Historically low interest rates to stay for years, predicts top economist

by Kay Murchie
”Historically
Gerard Lyons, chief economist at Standard Chartered Bank, is predicting that interest rates could remain at historically low levels for many years to come. Interest rates currently stand at 0.5% - the lowest level since the Bank of England was established over 300 years ago. According to Mr Lyons, it is quite likely that the Bank of England’s ...



August 14, 2009

UK repossessions fall in second quarter

by Kay Murchie
UK repossessions fall in second quarter
The Council of Mortgage Lenders (CML) has today announced a fall in the number of homes repossessed in the second quarter of the year compared with the previous three months. According to the CML, 11,400 homes were repossessed in the second quarter of the year. While this was a rise of 14% compared with the same period in 2008, it was down ...



July 8, 2009

Japan machine orders hit record low in May

by Kay Murchie
”Japan
Japan’s core private sector machine orders, a leading indicator of capital spending, fell in May to a record low, the Cabinet Office said today in Tokyo. The world’s second largest economy, which is heavily dependent on exports, has been hit by a slump in demand for its products overseas, particularly cars and electrical goods. Exports fell more than 40% compared ...



June 19, 2009

Surge in potential homebuyers as stocks dwindle

by Gill Montia
”Surge
The National Association of Estate Agents (NAEA) has reported a surge in the number of potential house purchasers registering with its members. NAEA firms reported an average 299 househunters signing up in May, the highest level since September 2007. However, last month the number of properties on estate agents' books fell to an average of just 69, down from 76 in April. As ...



May 21, 2009

UK retail sales up in April

by Kay Murchie
”UK
Consumer spending increased in April after retail sales were up 0.9% during the month compared with March, beating analysts expectations who had forecast a rise of just 0.5%. However, on an annual basis, sales were up 2.6% compared with April last year, according to the Office for National Statistics (ONS). Analysts believe record low interest rates are tempting shoppers back to the ...



April 30, 2009

New Zealand cuts interest rates to record low

by Peter Charalambous
”New
As expected the New Zealand central bank Governor, Alan Bollard, has cut interest rates for the seventh consecutive time, as the recession has slowed exports and reduced business investment on the island. The Reserve Bank of New Zealand has officially cut interest rates by 0.5 percent to a record low of 2.5 percent. After 18 months of recession, the economy ...



April 2, 2009

Premium bond prize fund hits new low

by David Masters
Premium bond prize fund hits new low
A consumer rights website has slammed the returns offered by NS&I; premium bonds, with interest rate cuts 'swallowing up' the likelihood of a decent return on savings. Research by MoneySavingExpert.com found that the chance of beating inflation with savings in premium bonds has dropped from 75% to 1% following changes to the prize draw. Changes include dropping one of the two £1 ...



April 1, 2009

Japan’s economy hit by more bad news as business sentiment at record low

by Kay Murchie
”Japan’s
The latest Bank of Japan's quarterly Tankan survey has revealed that business confidence among major manufacturers in Japan has hit the lowest level ever. The survey of 10,000 companies, which is seen as a key indicator of the health of the country's economy, revealed that confidence has plummeted to a 35-year low. The world’s second ...



February 24, 2009

European factory orders slump, German confidence at 26-year low

by Kay Murchie
”European
Figures from Eurostat have revealed a sharp fall in European industrial orders for the month of December. The official figures show that new industrial new orders in the euro zone fell 5.2% compared with November and 22.3% compared with December 2007. The drop was attributed, in part, to fewer orders for machinery and electronic equipment. According to Howard Archer, chief ...



February 18, 2009

US housing starts fall to record low

by Kay Murchie
”US
The US Commerce Department has revealed that US housing starts fell by 16.8% last month - the lowest level since the Commerce Department started collecting data in 1959. The construction of new houses and apartments fell to an annual rate of 466,000 units in January, much less than the forecasted rate of 530,000 by analysts. Ian Shepherdson, chief US economist at ...



February 5, 2009

UK interest rates at new record low of 1%

by Kay Murchie
”UK
As widely expected, the Bank of England’s Monetary Policy Committee (MPC) has cut interest rates half a percentage point to a new record low of 1%, in a bid to fight off a prolonged recession. The cut comes just two weeks after official figures confirmed the UK had entered a recession. Aggressive cuts have been made to the base rate ...



January 28, 2009

US consumer confidence tumbles to record low

by Kay Murchie
”US
As recession bites and fears grow over job security, US consumer confidence has plummeted to a record low in January. According to the Conference Board’s monthly consumer index, confidence fell to 37.7, from a revised 38.6 in December, below analysts' expectations of 39. The figure is the lowest since the New York-based group started monitoring consumer sentiment over 40 years ago. The survey ...



December 18, 2008

German business confidence falls to 18-year low

by Kay Murchie
”German
Business sentiment in Germany has taken a battering after a business index from the Ifo research institute revealed a sharp drop this month to a low not seen since 1990. Europe’s largest economy is set to be in for a challenging year believe economists since just a month ago, official figures revealed that the country is now in recession after gross ...



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