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Economic News News

Economic news

ECB begins buying asset-backed securities

ECB begins buying asset-backed securities

Fri, 21 November 2014

The European Central Bank (ECB) has started buying asset-backed securities in an attempt to encourage banks to lend and boost the stagnant economy. "Following publication of legal act on the implement... [more]

UKIP victory raises concerns of another coalition government in 2015

UKIP victory raises concerns of another coalition government in 2015

Fri, 21 November 2014

Concerns about a potentially hung UK parliament in the next general election rose on Friday following the election of a former Conservative lawmaker as anti-EU party UKIP's second MP. Financial analys... [more]

Tesco leads sales falls in the last three months, Nielsen says

Tesco leads sales falls in the last three months, Nielsen says

Fri, 21 November 2014

Ailing supermarket group Tesco came out at the wrong end of another set of sales data on the UK's food retailers on Friday. Tesco was the biggest sales faller of the 'big four' supermarkets in the 1... [more]

Support is shaky as Japan PM calls for snap election on 'Abenomics'

Support is shaky as Japan PM calls for snap election on 'Abenomics'

Fri, 21 November 2014

Prime Minister Shinzo Abe dissolved parliament's lower house on Friday ahead of a snap election on December 14. Two years after returning to power, Abe promised that "Japan is back" and now seeks a fr... [more]

UK borrowing 'set to overshoot forecasts' despite slight October fall

UK borrowing "set to overshoot forecasts" despite slight October fall

Fri, 21 November 2014

The UK's public sector net borrowing was £7.7bn in October, down £200m against the same month a year ago, according to official figures. But public sector net borrowing excluding public sector banks (... [more]

Osborne abandons bid to overturn EU bank bonus cap

Fri, 21 November 2014

British finance minister George Osborne has abandoned a bid to challenge the European Union's cap on bankers' bonuses after the continent's top court threw it out. Osborne ditched the challenge after ... [more]

US Philly Fed index rockets higher in November

Thu, 20 November 2014

The Federal Reserve bank of Philadelphia's manufacturing sector gauge for the month of November shot higher to a reading of 40.8 for November, its highest level since March 2011. The consensus estimat... [more]

Weakness in China and the Eurozone weighs on industrial orders, CBI says

Thu, 20 November 2014

The recovery in British manufacturing slowed in November as a result of sluggish export demand, the Confederation of British Industry's (CBI) industrial trends survey showed. Growth in the sector rema... [more]

Chinese interbank lending rates spike on demand for liquidity

Thu, 20 November 2014

Lending rates in China spiked on Thursday as demand for liquidity was boosted ahead of a raft of upcoming initial public offering (IPOs) next week, a day after Beijing announced new measures to loosen... [more]

BoE policymaker demands banking boards take back key controls

Thu, 20 November 2014

Bank of England policymaker Martin Taylor has criticised bank boards for falling short of their duties after the financial crisis and not being able to see the "big picture" and reiterated the bank's ... [more]

UK car manufacturing falls in October amid economic uncertainty

Thu, 20 November 2014

UK car manufacturing dropped last month as global economic uncertainty took its toll on the industry. Volumes fell 6.7% in October to 150,060 units, leaving year-to-date volumes down 0.3%, according t... [more]

UK retail sales surge past forecasts in October, ONS reveals

Thu, 20 November 2014

UK retail sales soared last month, advancing by 0.8% month-on-month and 4.3% on the year, according to the Office for National Statistics (ONS), led by non-food sales, while prices fell at their quick... [more]

German manufacturing activity drops in November, Markit reveals

Thu, 20 November 2014

German manufacturing activity declined unexpectedly in November, a report showed on Thursday. Markit's purchasing managers' index (PMI) fell to 52.1 this month from 54.4 the previous month, compared t... [more]

Deutsche Bank CEO forecasts 10% growth in Asia-Pacific revenue

Wed, 19 November 2014

Co-chief executive officer for Deutsche Bank's Asia-Pacifc region, Gunit Chadha, outlined expectations for a 10% increase in revenue over the next three to five years. During a television interview, C... [more]

Gender pay gap shrinks to lowest level on record

Wed, 19 November 2014

The difference between men and women's salaries has shrunk to its narrowest level since records began, data from the Office for National Statistics has shown. The gender pay gap was 9.4% in April, dow... [more]

UK households more confident about their finances, Markit reveals

Wed, 19 November 2014

UK households have signalled the second highest confidence about their finances since 2009, with savings falling to the slowest rate in the Markit's survey history. The monthly Household Finance index... [more]

Moscow and Beijing seek to strengthen military alliance

Wed, 19 November 2014

During a visit to Beijing last week, Chinese-Russian relations were announced to have "never been stronger" with both countries driven closer following increasing estrangement from western powers. Chi... [more]

BoE MPC members grew more divided in their views, minutes showed

Wed, 19 November 2014

Several conflicting short-term trends seem to have muddied the Bank of England Monetary Policy Committee's crystal ball a tad, the minutes of the 6 November rate setting meeting revealed. Although, ba... [more]

Two members dissented from BoE decision to maintain Bank Rate, minutes show

Wed, 19 November 2014

As expected, at its meeting of 6 November the Monetary Policy Committee (MPC) opted to keep its main policy rate unchanged at 0.5% by a margin of seven votes in favour and two against. The two dissent... [more]

BoE's McCafferty and Weale voted in favour of rate rises at last meeting

Tue, 18 November 2014

Bank of England policymakers Ian McCafferty and Martin Weale both voted for an interest rate hike at the Monetary Policy Committee's last rate setting meeting, the former told radio station LBC. The r... [more]

Reduction in international bank flows could hurt UK economy, says BoE's Forbes

Tue, 18 November 2014

Policymakers should shift their focus from the implications of increasing levels of financial globalisation to the implications of banking de-globalisation, said the Bank of England's (BoE) Kristin Fo... [more]

US home-builder confidence reaches nine-year high in November

Tue, 18 November 2014

US home-builder confidence jumped in November to reach a nine-year high. The National Association of Home Builders/Wells Fargo builder sentiment jumped to 58 this month, in line with the second-highes... [more]

UK grocery market drops for first time in 20 years

Tue, 18 November 2014

The British grocery market has lurched into decline for the first time since records began 20 years ago, a survey showed on Tuesday, piling pressure on supermarkets ahead of crucial Christmas trading.... [more]

UK house prices reach seven-year high in September, ONS data reveals

Tue, 18 November 2014

Reports of a cooling UK property market appear to have been overstated as house prices reached a new high in September, according to data from the Office of National Statistics (ONS) on Tuesday. Off... [more]

German economic sentiment rises more than forecast

Tue, 18 November 2014

German economic sentiment rose more than forecast in November, in a positive sign for the euro-area amid a weak economy and low inflation. ZEW's confidence index jumped to 11.5 from -3.6 in October,... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Anglo American 1,380.00 6.69 17:07
Rio Tinto 3,042.00 6.18 17:13
Tullow Oil 505.00 5.80 17:02
Fresnillo 763.50 5.31 16:46
BHP Billiton 1,662.00 5.02 17:09

FTSE 100 Top Fallers

Name Last Chg.% Time
Imperial Tobacco Group 2,885.00 -1.33 17:11
TUI Travel 423.40 -0.87 17:00
Carnival 2,617.00 -0.80 17:08
easyJet 1,553.00 -0.77 17:07
Royal Bank of Scotland Group 377.70 -0.76 17:08