In charts: UK car registrations on the rise as PIIGS fight back April 16, 2015 A sign of recovery? The EU is celebrating its nineteenth straight month of improving car sales, as the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) pull their weight. Elsewhere the UK continued to buy more cars than Germany despite its smaller population, although the rate of growth was slower at six per cent to Germany’s [...]
UK house prices: Rental growth is now outpacing house price increases April 16, 2015 The price of renting a home in the UK has risen 10 per cent in the last 12 months – faster than the rate of growth for buyers. New data from HomeLet shows that the average rental cost rose in the 12 months to March in 11 of the 12 UK regions, with only Wales [...]
Grexit strategy: How much money does Greece owe, which countries does it owe and when does it have to pay its debts? April 16, 2015 As Greece teeters on the brink of default (again), it looks like its lenders are losing patience. Yields on Greek bonds soared this morning after it was reported that the International Monetary Fund (IMF) had gently asked the country not to request a delay on its debt repayments. But how much does Greece actually owe, who [...]
Greek bond yields soar on IMF rumours April 16, 2015 Yields on Greek 10-year bonds soared to 12.8 per cent in late morning, after reports suggested the International Monetary Fund (IMF) has rejected informal requests to delay loan repayments. Yields on its three-year notes rose to 26.43 per cent, after the FT reported this morning that the IMF had “persuaded” the Greek government not to make [...]
Three charts showing the best countries in Europe in which to buy a second home April 16, 2015 The Eurozone crisis was an economic nightmare for many, not least the property sector, with prices falling across the continent. And while there are signs of growth across the bloc, prices in many countries are still low, according to Eurostat, the statistical body of the EU. The Eurozone and European Union (EU) has returned to [...]
Greek debt gets downgraded as Yanis Varoufakis heads to Washington April 15, 2015 Greece’s debt was downgraded further into junk territory yesterday while Germany’s finance minister cast doubt on hopes that a deal on more funding for the country could be struck next week. Ratings agency Standard and Poor’s downgraded the country’s debt further into junk to CCC+/C from B-/B. “Without deep economic reform or further relief, we [...]
Households’ heavy debts could hurt the UK’s economic recovery April 15, 2015 Britons are still carrying heavy private debts, the International Monetary Fund (IMF) warned yesterday, which could hamper the burgeoning economic recovery. High rates of borrowing in the pre-crash years led to a consumer boom as debt-funded spending drove economic growth. But “the crisis exposed the fragility of this credit-driven growth model and the risks to [...]
General Election nerves and a lack of supply causing property sales to flatline April 15, 2015 An uncertain General Election, combined with supply constraints, has led to flatlining property sales and enquiries. The latest survey by the Royal Institution of Chartered Surveyors (RICS) shows that London saw a decline in both enquiries and sales for the 11th month in a row. Simon Rubinsohn, RICS chief economist, said: “Anecdotal evidence does suggest [...]
China GDP first quarter 2015: Economic growth falls to slowest pace since 2009 April 15, 2015 China's economy grew at its slowest pace in six years, latest official figures have revealed. The country's GDP grew seven per cent in the first quarter compared to the same period a year ago, its slowest rate of growth since the middle of the financial crisis in 2009. That compares to economic growth of 7.3 [...]
Greek finance minister Yanis Varoufakis heads to Washington ahead of crunch talks April 14, 2015 Greece’s finance minister Yanis Varoufakis will jet off to the US tonight to meet President Barack Obama, as well as the lawyer who helped Greece restructure its debt in 2012. Varoufakis will meet Obama tomorrow. It will be followed by meetings with European Central Bank head Mario Draghi on Friday, Secretary of the Treasury Jack [...]