Mario Draghi: Eurozone’s future at risk if prosperity does not spread November 27, 2014 Eurozone countries could start to consider leaving the currency union if prosperity does not spread across the area, European Central Bank boss Mario Draghi said yesterday. If countries such as Greece remain permanently less competitive than those like Finland, with higher unemployment and lower growth, “this threatens the essential cohesion of the union”, he said. Draghi [...]
Eurozone bond yields plunge to record lows November 24, 2014 Spanish and Italian borrowing costs fell to record lows yesterday as markets began to price in the likelihood of the European Central Bank (ECB) buying government bonds. The interest on Spanish, Italian and German 10-year government debt fell to 1.98, 2.17 and 0.77 per cent respectively yesterday. It is the first time Spanish 10-year yields [...]
PMI signals “weakest Eurozone growth” for more than a year November 20, 2014 The speed of recovery in the Eurozone has slowed down again in November, Markit's Purchasing Managers' Index (PMI), published this morning, suggests The flash composite index, which measures output in the region, fell to 51.4, its lowest in 16 months, and down from 52.1 in October. The figure is still above the 50 mark, below [...]
UK Mail share price bounces despite pallets crunch and Eurozone slowdown November 18, 2014 Deliveries business UK Mail reported resilient profits for the third quarter yesterday, despite struggling with the economic slowdown in the Eurozone. Its financial results took a hit from a goodwill writedown of £7.3m in its pallets business, but the other units proved relatively healthy. Group revenues slid 0.8 per cent on the year to £241.4m, [...]
David Cameron’s “red warning lights” over global economy: Five charts that sum up the Eurozone’s latest crisis November 17, 2014 Prime Minister David Cameron has warned of "red warning lights" flashing on the "dashboard of the global economy", following this weekend's G20 summit in Brisbane. That's particularly true of the Eurozone, which only narrowly avoided a triple-dip recession according to GDP figures published on Friday, which showed growth of 0.2 per cent in the third [...]
Small factories suffer from fall in demand from Eurozone buyers November 16, 2014 Britain’s manufacturers are being propped up by strong domestic demand, as orders from the troubled Eurozone drop sharply, the Confederation of British Industry (CBI) said today. The proportion of small- and mid-sized firms reporting rising output outweighed those reporting a fall by a margin of nine per cent – down from 15 per cent three [...]
Eurozone economy beats expectations posting 0.2 per cent growth for the third quarter November 14, 2014 The eurozone economy grew 0.2 per cent in the third quarter, according to official figures published by Eurostat, beating expectations of 0.1 per cent growth. The figure should help calm fears the single-currency bloc could be entering into another recession. Investors have been increasingly worried by a swathe of poor data coming out of the [...]
GDP estimates: Germany avoids recession while France surprises calming Eurozone fears November 14, 2014 Germany has avoided sliding into recession, as the economy grew 0.1 per cent in the third quarter, while France reported surprise growth of 0.3 per cent ahead of expectations. The latest GDP estimates calm fears over the stagnating Eurozone economy and reverse the previous quarter’s trend when the German economy shrank and France became stagnant. [...]
Eurozone PMI: Contraction in French services raises fears of third recession November 5, 2014 France continues to earn its title of the “sick man of Europe” with its service sector showing signs of contracting. The services purchasing managers’ index (PMI) – a survey of firms in the service sector – registered 48.3 for France in October, according to figures released yesterday by Markit. A score below 50 signals contraction. [...]
European Commission slashes 2015 eurozone growth forecast to 1.1 per cent November 4, 2014 The European Commission (EC) has cut its 2015 growth forecast for the eurozone from 1.7 per cent to 1.1 per cent, citing a slowdown in market activity, as well as the threat from rising tensions in Ukraine and a lack of investment. It added that growth in the bloc this year is expected to reach [...]