EU says growth must now be top priority April 26, 2012 EUROPEAN leaders declared yesterday that the EU should start moving away from austerity and look to other policies to boost economic growth. Italy’s Prime Minister Mario Monti said concentrating on budget savings alone could leave the continent in a deep slump. Responding to the European Central Bank’s (ECB) message that it was up to leaders [...]
TROIKA PRAISES IRISH ECONOMIC REFORMS April 26, 2012 IRELAND’S economic reforms remain on track, said the International Monetary Fund, European Union and European Central Bank – its troika of international lenders – yesterday. Led by Christine Lagarde, they praised the government’s efforts to keep the budget deficit below 10 per cent. However, “considerable challenges remain”, they cautioned.
US jobs recovery slowing down April 26, 2012 ■ Fewer people signed up for unemployment benefits in the US last week, the Labor Department revealed yesterday, but the decline was smaller than in previous weeks and provides renewed evidence that the economic recovery is struggling. Initial jobless claims fell 1,000 to a seasonally adjusted 388,000. Still, a separate report offered fresh hopes of [...]
German firms gain credit access April 26, 2012 ■ Credit constraints continued to be the main factor dragging down German industry in April, Ifo revealed yesterday, in a positive sign for the resilient economy. Only 19.5 per cent of the companies surveyed reported a restrictive credit policy on the part of banks. That represents a 0.8 percentage point fall on the March figure. [...]
Retailers hit as UK consumers stay cautious April 26, 2012 RETAIL sales slid in April as shoppers remained wary of making big purchases, influential survey data showed yesterday, while consumer confidence remained low. However, retailers remained upbeat on future sales, according to the Confederation of British Industry’s (CBI) distributive trades survey, indicating they expect the economy to improve. The study shows 33 per cent of [...]
London leads jump in house prices as prime properties soar April 26, 2012 ASKING prices rose across the country at the start of 2012, new data revealed yesterday, with prices in London soaring and sales of multi-million pound homes rising. Asking prices rose an average of £3,104 or 1.8 per cent in the first quarter, hitting £221,387 according to findaproperty.com. London experienced the biggest rise, at 5.4 per [...]
FSA boss wants eurobonds and fiscal integration to stop crisis April 26, 2012 JOINT eurobonds and greater fiscal integration are both vital steps which Eurozone nations should take to end the current crisis and reduce some of the pressures which created the current panic, Financial Services Authority (FSA) chairman Adair Turner said today. He also called for national regulators to be given greater macroprudential powers to tackle bubbles [...]
Inflation expectations going up April 26, 2012 AFTER months of falling as the Bank of England hoped, inflation expectations are rising once more, a survey showed yesterday. The median consumer price inflation expectation for the next year rose from 2.7 per cent in March to three per cent this month, according to data gathered by YouGov. “The UK is displaying both sides [...]
Surprise gains at Volkswagen as sales surge April 26, 2012 VOLKSWAGEN (VW) boosted operating profit by 10 per cent in the first quarter despite shrinking demand for vehicles in the car maker’s western European core markets and spending on a technology overhaul. Operating profit increased to €3.21bn (£2.6bn) from €2.91bn a year earlier, the German car maker said in a statement yesterday, beating analysts’ expectations [...]
LONDON 2012 IMAGE OF THE WEEK April 26, 2012 THE Olympic torch has won acclaim, picking up the Design of the Year award at a ceremony hosted by the Design Museum. Created by Barber Osgerby, the torch is perforated with 8,000 circular holes to reduce weight and prevent heat conduction. It was used this week in the Olympic torch relay dress rehearsal. Between now [...]
