ECB President Mario Draghi warns Greek bailout deal is “urgent” April 19, 2015 European Central Bank (ECB) president Mario Draghi has warned the negotiations around Greece's €240bn (£181bn) bailout program are "urgent" and a default by the cash-strapped country would push the region into "uncharted territory". "Much more work is needed now, and it's urgent," he said at the International Monetary Fund – World Bank spring meeting in Washington. [...]
UK house prices hit new high, but growth slows to its lowest for 16 months as London feels the effects of stamp duty changes and mansion tax fears April 17, 2015 UK house price growth is at its slowest since 2013, despite the cost of buying a house hitting record highs. The capital was particularly affected, as changes in stamp duty and fears of a mansion tax hit sales. The figures According to figures from LSL property Services, March 2015 had the smallest annual rise in [...]
UK employment rate hit record high of 73.4 per cent in February April 17, 2015 Britain's employment rate has risen to its highest level since comparable records began around 44 years ago, which could provide a boost to the Tories and Lib Dems as they gear up for the General Election. The final jobs and earnings before the election, released today by the Office for National Statistics, showed the number of people [...]
Greek debt deadline: Finance minister Yanis Varoufakis hits back at creditors April 16, 2015 Greece’s defiant finance minister lashed out at the country’s lenders last night, insisting that he will not back down during crunch talks despite impending debt deadlines. Yanis Varoufakis was speaking after the International Monetary Fund (IMF) all but ruled out the prospect of Greece being allowed to delay its repayments to the bailout provider. “Payment [...]
Eurozone recovery begins to gain some traction as new car sales speed ahead April 16, 2015 New car purchases in Europe are growing strongly, in a sign that the economy is starting to gain momentum. March saw the highest monthly growth for a year, as 1,604,107 new cars were registered. For the Eurozone, registrations of new cars were up 13.3 per cent compared to March last year, according to figures released [...]
UK house prices at record high as growth slows amid General Election uncertainty April 16, 2015 The average price of a property across England and Wales was at a new record last month, despite March seeing the smallest annual change in house prices since November 2013. A house now costs on average of £275,123. This is a 5.6 per cent annual rise, equating to £14,620. However, in London and the south [...]
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 [...]