ECB holds interest rate at 1pc low February 4, 2010 The European Central Bank (ECB) kept interest rates at a record low of one per cent yesterday and reaffirmed its view that the eurozone’s economic recovery would be modest and uneven this year. All 86 economists in a recent Reuters poll had expected the ECB to keep rates unchanged this month and only two had [...]
At a glance: All of Alistair Darling’s 2010 Budget tax and spend policies March 24, 2010 THE ECONOMY/ PUBLIC FINANCES l Confirmed pre-Budget report (PBR) 2010 growth forecast of 1-1.5 per cent. But the chancellor revised downwards the 2011 forecast to 3-3.5 per cent to bring forecasts in line with those of the Bank of England. Growth forecast of 3.5 per cent in 2012 maintained. l Inflation spike expected to be [...]
Greek workers strike as talks on debt crisis begin February 10, 2010 Thousands of Greek civil servants staged a 24-hour strike shutting schools and grounding flights yesterday, but a protest march was poorly attended, offering some hope Athens can tackle a debt crisis shaking the eurozone. Today’s meeting among the EU’s 27 leaders, economic advisers, the central bank chief and other senior EU officials is expected to [...]
Why the Tories should try talking to voters with a Canadian accent March 22, 2010 As the general election draws near, voters appear to be pondering the previously unthinkable: granting Gordon Brown another term in office. The Conservatives’ lacklustre standing in the polls reflects the cloud of doubt swirling around David Cameron, what he stands for – or does not stand for. Tax cuts? Entitlement cuts? Spending cuts? Voters want [...]
ECONOMIST VIEWS: IS THE CHIEF OF THE IMF RIGHT TO WARN AGAINST DROPPING THE GLOBAL FINANCIAL STIMULUS PACKAGES? January 18, 2010 ALAN CLARKE | BNP PARIBAS I have a lot of sympathy with what the head of the IMF has said. I am in favour of at least keeping in place quantitative easing or increasing it. The measures brought in have acted to stimulate the economy and household disposable income has remained relatively high despite the [...]
Thumbs down for Greek rescue plan February 11, 2010 INITIAL City enthusiasm over an expected bailout for Greece quickly switched to disappointment yesterday as the 16 nations in the eurozone failed to come up with a solid rescue plan. The euro plunged almost one per cent against the dollar – at one stage breaching a fresh eight-month low –?and despite recovering slightly lost most [...]
Investors growing wary over job data March 2, 2010 US stocks ended slightly higher yesterday as mergers and acquisitions supported selected sectors, but investors pulled back from recent gains in some big-cap technology and bank shares. The S&P 500 has risen for eight of the past 11 trading days, but there were signs of fatigue as investors grew cautious in advance of key employment [...]
France votes to increase female board members January 21, 2010 FRANCE’S lower house of parliament adopted a bill yesterday that would force large firms to reserve at least 40 per cent of their boardroom positions for women within six years. The Senate is expected to vote on the measure, which was presented in the lower house by the ruling centre-right UMP party, in the next [...]
Banks boost FTSE on hopes that RBS results bring cheer February 24, 2010 BRITAIN’S top shares rose 0.5 per cent yesterday, led by banks and echoing gains on Wall Street as US Federal Reserve chairman Ben Bernanke assuaged fears of an earlier than expected interest rate rise. The FTSE 100 ended 27.83 points higher at 5,342.92 buoyed by the Fed chairman’s statement and after it had closed 0.7 [...]
ANALYSTS TAKE THEIR GAMBLE ON WORLD CUP April 7, 2010 WORLD Cup fever is starting to grip the City in earnest ahead of the summer in South Africa, as evidenced by the latest analysts to have a pop at the business impact of the tournament. Sanford Bernstein’s Trevor Stirling, Joao Valli and Melissa Yates yesterday released a missive on the effects of the World Cup [...]