Following a tense summit in Brussels last night, it has been announced that euro zone leaders have reached a deal which they say will help resolve the growing debt crisis in the 17-member nation. The deal will see the euro zone’s main bailout fund expanded to €1 trillion, while banks will accept a loss of [...]
EU leaders are travelling to Brussels for an emergency summit – the 14th in 21 months – designed to tackle the euro zone debt crisis. The summit will also see leaders discuss Greece’s second bailout, as well as boosting the €440 billion rescue fund. There are still growing fears that Greece’s debt crisis could spread [...]
The Office for National Statistics (ONS) has today revealed UK public sector net borrowing fell last month. According to the ONS, public sector net borrowing came in at a lower than expected £14.1 billion in September, boosted by tax receipts. Analysts had expected borrowing to total £14.5 billion. Furthermore, the ONS revised down the borrowing [...]
Growth in the Germany economy, which is the euro zone’s largest, is expected to slow sharply next year as the ongoing debt crisis persists. In a closely monitored twice-yearly report, Germany’s leading economic institutes have slashed their growth forecasts for the economy from 2% next year to 0.8%, citing the debt problems in the euro [...]
The EU statistics office Eurostat has today revealed euro zone industrial output rose by 1.2% in August. On an annual basis, meanwhile, industrial output grew by 5.3%. Both sets of figures beat economists’ forecasts. On a regional basis, Germany, which is the euro zone’s largest economy, saw a monthly fall of 1% but was 7.8% [...]
According to a report by the Institute for Fiscal Studies (IFS), Government welfare changes will mean there will be 3.1 million children in poverty in the UK by 2013. Typical families will see their annual income fall by around £2,000 by the year 2013, warned the IFS, pushing 600,000 more children into poverty. The independent [...]
British Prime Minister, David Cameron, is urging European leaders to take “decisive steps” to deal with the debt crisis. Mr Cameron said the crisis is putting the global economy in a “precarious” situation and told leaders of the 17-member nation they had a “collective responsibility” to avoid a disaster. Mr Cameron told the Financial Times [...]
According to the Chartered Institute of Personnel and Development (CIPD), more public sector job losses are being axed than originally forecast. The employers group said 610,000 jobs in the sector will be lost between 2010/11 and 2015/16 – one third more than the 410,000 the Office for Budget Responsibility (OBR) originally predicted. The group is [...]
The Washington based International Monetary Fund (IMF) has warned that a recession in Europe next year “can’t be ruled out”. Its comments come in its latest 100-page report on the economic outlook for Europe, in which it said the UK, Germany and France should “consider delaying” cuts, if economic conditions deteriorate. The report comes after [...]
CBI: Decline in retail sales slows in October
According to the latest Confederation of British Industry (CBI) distributive trades survey, the fall in retail sales slowed in October, but only a modest rise in volumes is expected next month. Consumers continue to be cautious about the economic outlook and rein in their spending on the back of rising unemployment, higher inflation and slow [...]
Euro zone leaders agree to deal
Following a tense summit in Brussels last night, it has been announced that euro zone leaders have reached a deal which they say will help resolve the growing debt crisis in the 17-member nation. The deal will see the euro zone’s main bailout fund expanded to €1 trillion, while banks will accept a loss of [...]
Policymaker says another recession is likely
Bank of England policymaker Paul Fisher has today said Britain is likely to suffer another recession. His comments come just a few days after fellow Monetary Policy Committee (MPC) member, Martin Weale, warned that a contraction in the fourth quarter is possible. Returning to Mr Fisher, he was asked how likely a double dip recession [...]
US economic growth rises in Q3
The world’s largest economy expanded at its fastest pace in a year in the three months to the end of September, official figures revealed today. According to the Commerce Department, the US economy grew at an annualised rate of 2.5% in the third quarter of this year. The figure was in line with forecasts but [...]
CBI: Confidence among manufacturers slump
According to the Confederation of British Industry (CBI), confidence among UK manufacturing firms has slumped as a result of the debt crisis in the euro zone, as well as a fall in expectations for future growth. The latest industrial trends survey by the employers’ group established that 30% more businesses were pessimistic about the future [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Contact us
