US trade gap narrows sharply in October December 9, 2011 The US trade deficit narrowed in October to its lowest in 10 months, but imports from China hit a record high, a new government report has shown. The trade gap totaled $43.5bn, in line with a consensus estimate from analysts before the report. However, the Commerce Department revised its estimate of the September trade deficit [...]
US trade gap narrows sharply in October December 9, 2011 The US trade deficit narrowed in October to its lowest in 10 months, but imports from China hit a record high, a new government report has shown. The trade gap totaled $43.5bn, in line with a consensus estimate from analysts before the report. However, the Commerce Department revised its estimate of the September trade deficit [...]
Corzine “stunned” by lost MF Global funds December 8, 2011 Former MF Global chief Jon Corzine has apologised to customers, employees and investors who have suffered because of the brokerage firm’s collapse, but said he does not know where missing customer money is. “Their plight weighs on my mind every day – every hour,” Corzine, a former US senator, said in 21 pages of remarks [...]
US jobless claims at nine-month low last week December 8, 2011 New US claims for unemployment benefits dropped to a nine-month low last week, a government report has shown, suggesting the labour market recovery is gaining momentum. Initial claims for state unemployment benefits fell 23,000 to a seasonally adjusted 381,000, the Labor Department said, the lowest since late February. That was below economists’ expectations for a [...]
ECB cuts interest rate and unveils liquidity steps December 8, 2011 The European Central Bank has cut the Eurozone interest rate to one per cent to return the bloc to the ultra-low rate seen at the start of 2011 and set out two new measures to help improve banks’ access to funding. New ECB president Mario Draghi has within a month of starting at the bank [...]
Bank holds interest rates and bond buying steady December 8, 2011 The Bank of England has held interest rates at the ultra-low 0.5 per cent level for another month and left its bond-buying programme unchanged as concerns grow for UK economic growth at the end of the year. The decision makes it the 33rd consecutive month of interest rates staying on hold, reflecting the continued weak [...]
Germany pours cold water on EU summit hopes December 7, 2011 Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe’s banks have dented financial market hopes of a turning point in the euro zone’s debt crisis at a summit this week. President Nicolas Sarkozy and Chancellor Angela Merkel detailed their plan to amend the EU treaty to anchor stricter budget discipline [...]
Germany pours cold water on EU summit hopes December 7, 2011 Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe’s banks have dented financial market hopes of a turning point in the euro zone’s debt crisis at a summit this week. President Nicolas Sarkozy and Chancellor Angela Merkel detailed their plan to amend the EU treaty to anchor stricter budget discipline [...]
Citi begins London investment bank layoffs December 7, 2011 Citigroup has begun a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide. There are likely to be “several hundred” job cuts across the Europe, Middle East and Africa region, a person familiar with the matter [...]
Citi begins London investment bank layoffs December 7, 2011 Citigroup has begun a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide. There are likely to be “several hundred” job cuts across the Europe, Middle East and Africa region, a person familiar with the matter [...]