Germany and Austria are the only EU countries with youth unemployment in single figures July 31, 2013 As Eurozone unemployment falls for the first time since 2011, the picture is still far from rosy. Especially if you're young. Youth unemployment is now less than 10 per cent in only two Eurozone states – Germany and Austria. In June 2013, 5.512 million young persons (under 25) were unemployed in the EU27, of whom [...]
Rate of increase in Italian consumer prices fell in June July 31, 2013 Italy’s annual rate of consumer price inflation fell to 1.1 per cent in June, down from 1.2 per cent the month before and lower than analysts’ expectations of a rise to 1.8 per cent. Compared to the month before, the consumer price index (CPI) was flat, down from a 0.3 per cent rise in May [...]
Steady Eurozone inflation hides the massive differences across member states July 31, 2013 Eurozone inflation has stayed flat at 1.6 per cent in the year to July, as measured by the consumer price index. Economists had forecast a rise to 1.7 per cent. This aggregate figure hides the massive variance in inflation rates across the Eurozone's members. Estonian CPI is still above three per cent. Howard Archer, chief [...]
EU spokesman says Eurozone unemployment is “horrendously high” July 31, 2013 European Commission spokesman Dennis Abbott has said that Eurozone unemployment is "horrendously high" after it has fallen for the first time since 2011. Abbott has said that member states need to carry out reforms to boost employment, but that there is no miracle cure. Eurozone unemployment has stayed flat at the revised figure of 12.1 [...]
Four Londoners arrested in connection with insider trading investigation July 31, 2013 The Financial Conduct Authority (FCA) and the Metropolitan Police this morning executed search warrants in West London. Four individuals including three men aged 29, 51, and 56 and one women aged 25 have been arrested and are currently in custody to be questioned in connection with an investigation in to insider dealing and market abuse. [...]
Economist says more QE likely only if economy suffers July 31, 2013 We shouldn't expect more quantitative easing unless things get much worse, says Howard Archer, who now believes it would take a "marked relapse over the coming months" for the bank to increase its money printing. After new Bank of England governor voted against further asset purchases at July's Monetary Policy Committee meeting, he is expected [...]
Loopholes appear in Greek VAT cut July 31, 2013 There appears to be a number of loopholes in the lauded value-added tax (VAT) cut in Greece, looking at a government circular out yesterday. The circular issued by the Greek Finance Ministry confirmed that VAT will be cut to 13 per cent from 23 per cent from tomorrow for a five month trial period in [...]
Italian unemployment falls slightly July 31, 2013 Italian unemployment fell slightly to 12.1 per cent in June from 12.2 per cent the month before. Analysts had expected an increase to 12.3 per cent. However, the proportion of young people in unemployment rose 0.8 percentage points to 39.1 per cent, and the number of inactive workers rose by 40,000. And employment fell by [...]
German unemployment remains unchanged but labour market is strengthening July 31, 2013 German unemployment remained flat at a seasonally adjusted 6.8 per cent in July. However, the number of people unemployed in Germany fell by 7,000 to 2.934m, less than the 13,000 decline the month before, but beating analyst expectations of a fall of just 4,000. This unexpected fall is good news for Germany, but Christian Schulz, [...]
Taylor Wimpey enjoys boost from government lending schemes but doesn’t see planning system improving July 31, 2013 Housebuilder Taylor Wimpey has reported a 42.1 per cent increase in first half pre-tax profit to £109m citing improved consumer sentiment and government mortgage schemes. Chief executive Pete Redfern said there was a “meaningful improvement in the housing market” in the first half of the year and that Taylor Wimpey is “ideally positioned to perform [...]