House prices to surge in 2014 if Bank of England intervenes November 9, 2010 HOUSE prices are set to rise by only 2.2 per cent next year as they are squeezed by falling disposable income and higher unemployment as a result of public sector cuts introduced by last month’s comprehensive spending review, a report will say today. The latest forecast from leading economic consultancy the Centre for Economics and [...]
Two dangers to look out for in 2011 November 30, 2010 AS readers know, I am relatively sanguine about the outlook for the global and UK economies next year. But this doesn’t mean that I’m blind to the risks facing the recovery. Two in particular worry me. The first is the possibility of a break-up of the euro. Arturo de Frias at Evolution Securities has crunched [...]
Inflated expectations are driving up sterling January 18, 2011 INFLATION is the curious way in which, over time, the same amount of money buys progressively less stuff. So it was strange to see yesterday that, as a result of higher than expected inflation in Britain, the value of sterling hit its highest level in two months. Against the dollar, the pound rose by about [...]
Spending hits ten-year low in households November 30, 2010 FAMILY spending in the UK has fallen to a ten year low, according to government figures released yesterday. The average weekly spend dipped to £455 per household last year, down from £471 in 2008, said the Office for National Statistics (ONS). The figures reflect households tightening their belts amid recession, as the economy shrunk by [...]
Spending hits ten-year low in households November 30, 2010 FAMILY spending in the UK has fallen to a ten year low, according to government figures released yesterday. The average weekly spend dipped to £455 per household last year, down from £471 in 2008, said the Office for National Statistics (ONS). The figures reflect households tightening their belts amid recession, as the economy shrunk by [...]
Irish banks will offer to restructure December 8, 2010 NATIONALISED lenders Anglo Irish and Irish Nationwide Building Society will submit a joint restructuring plan to the European Commission proposing they be merged and run down over time. The plan, which must be completed by the end of March, was one of the demands the IMF, European Commission and European Central Bank made as a [...]
Irish banks will offer to restructure December 8, 2010 NATIONALISED lenders Anglo Irish and Irish Nationwide Building Society will submit a joint restructuring plan to the European Commission proposing they be merged and run down over time. The plan, which must be completed by the end of March, was one of the demands the IMF, European Commission and European Central Bank made as a [...]
Commerzbank hit by mortgage losses November 8, 2010 Commerzbank has been hit by losses on commercial mortgages and the costs of integrating Dresdner Bank, it has reported. Third-quarter net profit of €113m (£97.6m) was below a €164m analysts’ estimate,. However, it is a turnaround from a loss of more than a billion euros a year ago. Commerzbank’s eastern European business dropped to a [...]
Inflation hits highest level in six months December 14, 2010 ABOVE target inflation rose further in November, jumping higher than economists expected, official data showed yesterday. The news cast further doubt over the Bank of England’s loose policy and monetary stimulus. “Another round of quantitative easing was always a long shot and this will reduce the odds still further,” said economist Andrew Goodwin of the [...]
Inflation hits highest level in six months December 14, 2010 ABOVE target inflation rose further in November, jumping higher than economists expected, official data showed yesterday. The news cast further doubt over the Bank of England’s loose policy and monetary stimulus. “Another round of quantitative easing was always a long shot and this will reduce the odds still further,” said economist Andrew Goodwin of the [...]