Merkel and Sarkozy agree new Eurozone reforms December 5, 2011 France and Germany have agreed on a series of reforms to address the Eurozone sovereign debt crisis, French President Nicolas Sarkozy has said after leaving a meeting with German Chancellor Angela Merkel. Sarkozy said the plans will be presented to EU President Herman Van Rompuy on Wednesday. “We want to make sure that the imbalances [...]
US factories roar but unemployment claims rise December 1, 2011 US manufacturing activity is at its highest level since June and construction spending increased in October, both signs that an economic recovery in the US could be on the horizon. The index for factory activity rose to 52.7, compared to 50.8 in October, according to the Institute for Supply Management. That data exceeded analysts’ expectations. [...]
US employers add 206,000 jobs in November November 30, 2011 US employers added the most jobs in more than a year in November as hiring gathered pace, a new payroll report shows. Private sector employers added 206,000 jobs in the month, far ahead of economists’ expectations for a gain of 130,000 jobs, the latest ADP National Employment Report showed. The result was the best result [...]
Six central banks agree huge new liquidity drive November 30, 2011 Six of the world’s biggest central banks are to lower the cost of dollar funding for their banks in a huge coordinated action to increase the supply of money into economies. The Bank of England joins the central banks of Canada, Japan, Switzerland, the US Federal Reserve and the European Central Bank to offer banks [...]
MPC warns of rising threat from Eurozone November 23, 2011 The rate-setters at the Bank of England expressed its severe concerns at the threat the Eurozone debt crisis poses to the UK economy at the last meeting of the Monetary Policy Committee, its minutes show. The committee’s nine members all supported keeping the level of monetary stimulus for the economy, quantitative easing, at the £75bn [...]
FTSE lower as Eurozone business activity slows November 23, 2011 Investors remained hesitant today as grim new data on private sector activity around the world raised fresh fears of a recession in Europe at the end of this year. Asian markets closed lower after purchasing managers’ index data from China saw activity slump to the lowest level in more than two and a half years, [...]
Eurozone business slowdown heralds contraction November 23, 2011 The Eurozone’s private sector contracted for a third month in November as a downturn that started in periphery countries has spread to core members of the currency bloc, new surveys have shown The surveys point to the Eurozone economy shrinking 0.5-0.6 per cent in the fourth quarter, after 0.2 per cent growth in the third [...]
Compass profits up on emerging markets November 23, 2011 Compass Group, the world’s biggest caterer, has posted a rise in full-year profit and given an upbeat view of its prospects after growth in North America and emerging markets helped offset tough economic conditions in Europe and the earthquake in Japan. Compass, which provides meals for office workers, members of the armed forces and schoolchildren [...]
Johnson Matthey expects more profit growth November 23, 2011 Johnson Matthey, the world’s biggest supplier of catalytic converters, beat forecasts with a 24 per cent rise in first-half profit, helped by higher average metals prices, and said it expected results from the second half to be stronger. The speciality chemicals company said it saw an improved return on sales thanks to increased plant utilisation [...]
JD Sports sees consumer confidence headwinds November 23, 2011 Sport retail chain JD Sports Fashion has issued a trading statement of two halves, saying its sales improved until mid-September but declined substantially after that until November. In a downbeat assessment of falling UK consumer sentiment, the company warned that it was having to work hard to sustain its margins as customers spent less. In [...]