Press freedom body calls for Cameron to investigate Miranda detention August 21, 2013 The Committee to Protect Journalists, an international media freedom organisation, has written to prime minister David Cameron urging him to lauch a “thorough and transparent” investigation into the detention of David Miranda at Heathrow Airport. Miranda is the partner of Guardian journalist Glenn Greenwald, thought to have been carrying journalistic material related to the story [...]
German government looks to moderate growing Greece tensions ahead of elections August 21, 2013 Germany's finance ministry is attempting to diffuse growing tensions over Greek aid in the run-up to next month's elections. Spokesman Martin Kotthaus said today that Greece is fulfilling the terms of its aid programme, and that the situation will be reviewed in 2014. He ruled out another restructuring of Greek sovereign debt, but added that [...]
US weekly mortgage applications index falls to two year low August 21, 2013 The Mortgage Banker’s Association's index for US mortgage applications fell to a two-year low last week, it was revealed today. Mortgage applications in the week to 16 August fell by 4.6 per cent, following a 4.7 per cent fall the week before. The index hit 450.4 from 471.9 the week before. The weekly purchase index [...]
UK manufacturing order books in best shape for two years August 21, 2013 The UK's manufacturing output order book is in its best state since August 2011, according to new CBI figures. The order book balance indicator has improved from -12 to zero in July. Economists had predicted an improvement to just -8. Other measures also improved, with the manufacturing output expectations balance at +25 from +12. The [...]
Berlusconi gives 10 day ultimatum to Italian prime minister August 21, 2013 Italian prime minister Enrico Letta thinks that 2014 will be a "historical year" for Europe as it the economic community could begin to recovery. Now a political rival threatens to topple his government. Newspaper Corriere reports that former prime minister Berlusconi has given Letta a 10 day ultimatum to find a solution to allow Berlusconi [...]
What the analysts are saying about July’s public sector deficit August 21, 2013 This morning, the Office for National Statistics said the UK government posted a £62m deficit in July – down from an £823m surplus the year before (full story here). Here's what analysts are saying about the figures. Martin Beck, UK economist at Capital Economics: Despite signs of life in the economy, July’s public finances data [...]
Irish central bank appoints new financial regulator from Banque de France August 21, 2013 The Irish central bank has appointed Cyril Roux as deputy governor of financial regulation to replace Matthew Elderfield. Roux will join from the Banque de France, where he holds the position of first deputy secretary general of the French prudential supervisory authority for banks and insurance companies (Autorité de Contrôle Prudentiel et de Résolution) – [...]
Over two thirds of manufacturing businesses expecting higher sales turnover in next six months August 21, 2013 As many as 67 per cent of manufacturing businesses – a record high – are expecting their sales turnover to increase over the next six months. This follows 82 per cent of firms gaining new sales after introducing new products or services in the past two years. The latest data from the Manufacturing Advisory Service [...]
UK public sector runs up first July deficit in three years August 21, 2013 The Office for National Statistics said the UK had a £62m deficit in July, compared to a £823m surplus the previous year. This is the first July deficit in three years (note that July last year was initially reported as a deficit but now revised), and came as a surprise to analysts (release). Excluding one-off [...]
Weidmann says that ECB bond buying endangers central bank independence August 21, 2013 The European Central Bank's (ECB) Jens Weidmann has warned that bond buying threatens central bank independence. These comments will be seen as quite an understatement by those who believe that the ECB already has an independence problem. Weidmann stressed the downsides to Germany of the exit of any member state from the Eurozone, claiming that [...]