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06th of September 2010
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News Tag: third quarter

February 5, 2010

BA posts £50m loss in Q3

by Kay Murchie
”BA
British Airways (BA) has today reported a £50 million loss in the three months to December 31 2009, compared with the £122 million it lost in the same period a year earlier. However, the loss was much less than analysts’ predictions for a £151 million loss. Meanwhile, the airline posted a surprise £25 million operating profit in the three-month period, against a ...



December 29, 2009

UK mortgage debt shrinks again

by Gill Montia
”UK
The Bank of England has published new figures indicating that during the third quarter of 2009, UK homeowners paid around £4.9 billion off their combined mortgage debt. Over the past six months, the credit crisis, recession, fear of negative equity and low savings rates have prompted mortgage borrowers to raise their stakes in their homes. However, the rate at which this is being ...



December 17, 2009

Ireland emerges from recession

by Kay Murchie
”Ireland
Official figures have today revealed that Ireland’s economy grew by 0.3% in the third quarter compared with the previous quarter and has therefore exited recession. The economy has been one of the worst performers in the western world this year but has now emerged from what was one of Europe's worst recessions. However, despite the positive growth in the third quarter, economists have warned ...



December 9, 2009

Japan’s economic growth figures revised downwards

by Kay Murchie
”Japan’s
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% analysts had expected. The main reason for ...



December 7, 2009

Iceland’s economy shrinks at record pace

by Kay Murchie
Iceland's economy shrinks at record pace
Iceland's economy plummeted at its fastest pace on record in the third quarter, falling by 5.7% compared to the previous quarter. However, on an annual basis the economy contracted by 7.2% - the biggest fall on record. The news comes as many economies throughout the world are now recovering as they emerge from recession. However, Iceland was severely hit by the financial crisis last ...



December 3, 2009

Bank of America to repay bailout

by Kay Murchie
Bank of America to repay bailout
Bank of America is to repay the $45 billion (£27 billion) of US Government bailout funds. The banking giant received the funds at the height of the financial crisis after accepting the Troubled Asset Relief Program (TARP). The repayment of the loan will see the bank escape curbs on executive pay, which in turn, has hindered its search for a new chief executive. Outgoing ...



November 30, 2009

India’s economy grows 7.9% on year

by Kay Murchie
...



November 25, 2009

US consumer spending rises in October

by Kay Murchie
US consumer spending rises in October
US consumer spending, which accounts for more than two-thirds of overall economic activity in the US, rose by 0.7% in October compared with September. The figures from the Commerce Department were more than the 0.5% rise expected by analysts and boosted hopes for a strong recovery. According to the Commerce Department, consumers increased their spending during the month on both durable manufactured goods, ...



UK economic growth figures revised upwards

by Kay Murchie
”UK
The Office for National Statistics (ONS) has today revealed that the UK economy contracted by 0.3% in the July to September period - rather than the 0.4% previously estimated. However, today’s figures still mean it is the first time the UK has endured six consecutive quarters without growth - the first time since the ONS began gathering the data in 1955. However, ...



November 24, 2009

US economic growth figures revised downwards

by Kay Murchie
US economic growth figures revised downwards
The Commerce Department today revealed that the world’s no.1 economy grew at a far slower rate in the third quarter than previous estimates showed. According to official figures, the US economy grew by 2.8% between the July and September period, rather than the 3.5% previously reported. Today's figures confirm that the economy exited its worst recession for 70 years in the third quarter ...



Russia cuts interest rates to record low of 9%

by Kay Murchie
”Russia
Bank Rossii, Russia’s central bank, has cut interest rates by 50 basis points to 9% - a record low and the ninth time rates have been cut since April in bid to boost demand. Russia’s economy, which is heavily reliant on oil exports, has suffered from a severe downturn but the economy appears to now be on the road ...



November 23, 2009

Thailand’s economy grows for second consecutive quarter

by Kay Murchie
”Thailand’s
Thailand, which is south-east Asia's second largest economy, has grown for a second consecutive quarter, according to official figures. The Thai economy grew by 1.3% in the third quarter from the second quarter when the economy grew by 2.2%, meaning the economy has officially exited recession. However, the 1.3% was far less than the growth of 2.3%, which economists had expected. The ...



November 20, 2009

ECB to gradually withdraw stimulus measures

by Kay Murchie
ECB to gradually withdraw stimulus measures
Jean-Claude Trichet, President of the European Central Bank (ECB), has said liquidity measures will be scaled back in order to ensure it doesn’t fuel inflation. Currently the inflation rate within the 16 nations that use the euro is 0.5% but at the start of the summer, inflation turned negative for the first time, declining to -0.1% as a result of falling energy ...



November 16, 2009

Japanese economy grows for second consecutive quarter

by Kay Murchie
”Japanese
Japan’s economy grew by 1.2% in the third quarter confirming that it has officially exited recession. The news comes just a few days after France and Germany’s economies also experienced positive growth in the third quarter, while it was confirmed on Friday that the euro zone had emerged from recession in the third quarter. The rise in Japan's GDP takes the annual ...



November 13, 2009

UK lags behind as euro zone becomes latest economy to exit recession

by Kay Murchie
UK lags behind as euro zone becomes latest economy to exit recession
Official figures have today revealed that the euro zone economy experienced positive growth of 0.4% in the third quarter, and therefore exiting from recession. The 16 nations that use the euro was boosted by strong growth in Germany, and joins other major economies, such as the US and Japan, which have also exited recession. However, the UK’s ...



French economy grows for second consecutive quarter

by Kay Murchie
French economy grows for second consecutive quarter
France’s economy grew by 0.3% in the third quarter confirming that it has officially exited recession. French Finance Minister Christine Lagarde told Europe 1 radio that the economy would shrink in 2009 but enter 2010 "with elan". France, along with Germany and Japan, also experienced positive growth in the second quarter, with them all “unofficially” emerging from recession during the period. The ...



November 12, 2009

Russia’s economy sees 13.9% growth in Q3

by Kay Murchie
”Russia’s
Statistics body Rosstat has today announced that Russia's economy expanded by 13.9% in the third quarter compared with the second quarter. However, when compared with the same period a year ago, the Russian economy contracted by 8.9%. The economy, which is heavily reliant on oil exports, has suffered from a severe downturn but the latest figures show that Russia is on ...



Lenders cut 2009 repossessions forecast

by Gill Montia
”Lenders
The Council of Mortgage Lenders (CML) has cut its forecast for the number of repossessions in 2009 to 48,000. The estimate is substantially down on earlier forecasts of 75,000 in 2008 and 65,000 in June of this year, and the body says the improvement reflects "lender forbearance, government measures and the beneficial effect of continuing low interest rates". In further good news, CML figures ...



November 9, 2009

Aer Lingus hit by dwindling passenger numbers

by Kay Murchie
”Aer
The global economic downturn has forced many airlines out of business as fewer people are travelling by air and Irish airline, Aer Lingus, is no exception. According to the carrier, long-haul numbers plummeted 13% in the three months to September with sales falling by 9.7% in the same period. However, the number of short-haul passengers was up 10% during the three month ...



Berkshire Hathaway recovers and sees Q3 profits treble

by Kay Murchie
Berkshire Hathaway recovers and sees Q3 profits treble
Berkshire Hathaway, the investment group controlled by respected US billionaire investor, Warren Buffett, has recovered from its poor performance in 2008 and announced a surge in net profit. The group said net profit was $3.2 billion (£1.9 billion) in the three months to September, compared to $1.1 billion in the same period a year earlier. Seventy-nine year old Buffett is often ...



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