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30th of December 2010
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News Tag: risk

December 24, 2010

Santander admits bank statement error

by Kay Murchie
’Santander
Spanish banking giant Santander has admitted to sending the bank statements of thousands of customers to the wrong addresses following a printing error. The bank, which is now one of the largest on the UK High Street, said current account holders have received the first page of their own statement and pages two and three of other people's as well. The bank has ...




December 17, 2010

Bank of England warns over euro zone debt crisis

by Kay Murchie
’Bank
In its latest half-yearly Financial Stability Report, the Bank of England has highlighted the uncertainty surrounding the euro zone debt crisis - suggesting it could be a threat to UK banks. The central bank expressed its concern for the ongoing debt situation in the 16-member nation - primarily because UK banks have significant investments in many of those countries ...




October 20, 2010

Government unveils harsh spending cuts

by Kay Murchie
”Government
Chancellor George Osborne has today unveiled his Comprehensive Spending Review - in what has been described as the most savage spending cuts since the Second World War. Mr Osborne confirmed he would proceed with almost all of the cuts he detailed in his emergency budget in June. Firstly, defending the cuts, Mr Osborne told parliament: "Tackling this budget deficit is unavoidable. The decisions about ...




Osborne to unveil Comprehensive Spending Review today

by Kay Murchie
”Osborne
Chancellor George Osborne will today reveal the Comprehensive Spending Review. He is set to provide details of how he intends to slash spending by £83 billion by 2014 as he endeavours to bring down the spiralling budget deficit. The cuts have received mixed responses; many have been critical of them warning that slashing the deficit too quickly could pose a threat ...




October 18, 2010

Former MPC member believes UK still at risk of double dip

by Kay Murchie
”Former
Professor David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee (MPC), has once again said massive spending cuts introduced to deal with the budget deficit could push the UK back into a recession. In June, and again last month, Mr Blanchflower warned the coalition Government that tough spending cuts could pose a threat ...




October 11, 2010

CFO confidence falls to 18-month low

by Kay Murchie
”CFO
Confidence among chief financial officers (CFOs) has fallen to the lowest level in 18 months. According to accountancy group Deloitte, confidence among these executives fell for the third consecutive quarter. More than a third of those surveyed said there is a risk that the economy will fall back into recession. Margaret Ewing, of Deloitte, said: "The financial and capital crisis may seem to ...




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 ...




September 21, 2010

Former MPC member believes UK still at risk of double dip

by Kay Murchie
’Former
Professor David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee (MPC), has today said he still doesn’t rule out a double dip recession. In June, Mr Blanchflower, who is professor of economics at Dartmouth College in the US, warned the coalition Government that tough spending cuts could pose a threat to the fragile ...




August 2, 2010

Alan Greenspan issues caution for US economic recovery

by Kay Murchie
’Alan
Alan Greenspan, the former chairman of the US Federal Reserve, has told US television that there is currently a "pause" in the US recovery. Mr Greenspan told NBC's Meet the Press programme: "We're in a pause in a recovery, a modest recovery but a pause in the modest recovery feels like a quasi-recession." He was asked if he thought the US ...




June 22, 2010

Japan lifts growth forecast and outlines debt measures

by Kay Murchie
”Japan
The world’s second largest economy has today lifted its growth forecast for the year to March to 2.6%, compared with an previous estimate of 1.4%. Growth in the year to March 2012 is predicted to be 2%. Japan was one of the first major economies to emerge from recession in the second quarter of 2009 – boosted by the ...




June 20, 2010

China’s central bank will keep yuan stable

by Kay Murchie
China’s central bank will keep yuan stable
China’s central bank has refused to bow to pressure to allow its currency, the yuan, to find its own level, after the bank’s website said: "There is at present no basis for major fluctuation or change in the [yuan] exchange rate". The country’s currency policy has been widely criticised and its comments come just 24 hours after the central bank said ...




June 16, 2010

US billionaire investor: Risk of European double-dip recession

by Kay Murchie
US billionaire investor: Risk of European double-dip recession
Speaking at a banking conference in Vienna recently, US multi-billionaire investor George Soros said a double-dip recession cannot be ruled out. A so-called double-dip recession, whereby the economy goes into recession twice without having undergone a full recovery in between, is almost inevitable in Europe next year, as credit problems are forcing European countries to increase fiscal consolidation at a ...




June 13, 2010

Former MPC member warns of double dip recession

by Kay Murchie
”Former
Professor David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee (MPC), has warned that cutting the deficit too quickly risks putting the UK back into recession. Mr Blanchflower, who is professor of economics at Dartmouth College in the US, told Sky News today that further investment is required to build growth. The new coalition Government has ...




June 11, 2010

Chinese inflation exceeds Government target

by Kay Murchie
Chinese inflation exceeds Government target
Chinese inflation continued to increase last month on the back of rising house and food prices. According to China’s statistics bureau, consumer prices in May were up 3.1% on an annual basis – up from April's rate of 2.8% and exceeding the Government's target of 3%. A spokesperson for the bureau admitted that the pressure on inflation was "rather big", but said prices ...




Japan at ‘risk of collapse’ under mountain of debt

by Kay Murchie
”Japan
The Japanese economy, which is the world’s second largest, faces many risks, one of them is deflation and the other is the country’s debt - which at nearly 230% of GDP is the highest of any industrialised nation. The debt is the result of decades of stimulus spending and low tax receipts. Japan's new Prime Minister, Naoto Kan, ...




June 3, 2010

Ethical funds minimise long-term risk

by David Masters
Ethical funds minimise long-term risk
Ethical investments are ideal for investors looking to minimise long-term risk, a financial expert has claimed. Alyce Lomax, columnist at The Motley Fool, said socially responsible investments should be the first choice for investors taking a long-term view. "Investors should focus on stocks whose stellar business practices will help them endure for decades to come," Lomax said in her weekly Motley Fool column. "The basic ...




May 30, 2010

BCC warns of new double-dip risk

by Kay Murchie
”BCC
The British Chambers of Commerce (BCC) has warned there is a risk of a double-dip recession (whereby the economy goes into recession twice without having undergone a full recovery in between). The warning from the business group comes as it said the Government should delay making big spending cuts as the recovery is still weak. Last week, Chancellor George Osborne unveiled details of ...




May 20, 2010

Japanese economy surges 1.2% in Q1

by Kay Murchie
Japanese economy surges 1.2% in Q1
The Cabinet Office has today announced that the world’s second largest economy expanded by 1.2% between January and March compared with the previous quarter - marking the fourth straight quarter of expansion. The growth was boosted by exports, while on an annual basis, growth was 4.9% - however, analysts had expected growth of between 5.4% and 5.9%. However, while growth surges ...




May 11, 2010

Risk of China’s economy overheating as inflation surges

by Kay Murchie
Risk of China’s economy overheating as inflation surges
Chinese inflation continued to increase last month on the back of rising house and food prices. According to China's statistics bureau, consumer prices in April were up 2.8% on an annualised basis - the highest rate in 18 months, while house price inflation hit 12.8% - fuelled by new luxury housing in Shanghai. While the figure is still below the Government's ...




May 6, 2010

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

by Kay Murchie
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 said banking systems faced ...




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