Iran halts oil exports to six European states February 15, 2012 Iran has stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state’s key export, its English-language Press TV has reported “Iran cuts its oil exports to six European countries,” Press TV reported. Brent crude oil prices were up $1 a barrel to $118.35 shortly after the announcement. [...]
Bank of England raises inflation forecast February 15, 2012 The Bank of England has raised its inflation forecast for two years time to around 1.8 per cent, higher than most economists had expected. The move raises doubts about further quantitative easing. Last week the Bank’s Monetary Policy Committee voted for another £50bn of quantitative easing over the next three months, taking the total to [...]
UK unemployment rises to 2.67m February 15, 2012 UK unemployment jumped by 48,000 to 2.67m in the three months to December, figures from the Office for National Statistics (ONS) showed. The figures showed that the number of people claiming Jobseeker’s Allowance last month increased by 6,900 to 1.6m.
Thorntons profits tumble February 15, 2012 CHOCOLATIER Thorntons posted a lower first-half profit as it needed to discount heavily and spent more on promotional lines to attract cash-strapped consumers to its stores, and the company waived its interim dividend. The Derbyshire-based company, which has been closing some shops, said sales in its own stores declined in the first half by 7.9 [...]
Peugeot plots cuts as profits dive February 15, 2012 PSA Peugeot Citroen pledged additional savings and asset sales including its Gefco trucking unit as it struggles to cut debt amid mounting losses at its core auto division. PSA’s automotive operating loss was 92 million euros (£77m) last year, after a 621m profit the previous year excluding one-time items, Europe’s second-biggest automaker said on Wednesday. [...]
France in GDP boost as German growth stalls February 15, 2012 France’s economy grew by a stronger-than-expected 0.2 per cent in the fourth quarter from the previous three months as corporate investment picked up and domestic consumption remain solid, bringing growth for the year to 1.7 percent in line with the government’s forecast. The INSEE national statistics office said that investment by non-financial corporations grew by [...]
US retail sales rise less than forecast in January February 14, 2012 US retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping. Total retail sales increased 0.4 per cent after being flat in December, the Commerce Department said on Tuesday. The government had initially estimated that sales rose 0.1 per cent in December, and on Tuesday [...]
Eurozone industrial output falls February 14, 2012 Output at factories in the Eurozone tumbled at the end of 2011, data showed, reflecting the sick European economy, but policymakers and economists expect a recovery in 2012. Industrial production in the 17 countries sharing the euro fell 1.1 per cent in December from November, marginally less than the 1.2 per cent slide forecast by [...]
Moody’s UK warning hits FTSE 100 February 14, 2012 The FTSE dipped this morning after debt rating agency Moody’s warned it could downgrade top-rated sovereigns including Britain. Moody’s grim assessment sapped some of the confidence of investors who had been encouraged by Greece finally agreeing a package of austerity measures to steer it away from a default. The move put the UK’s rating in [...]
Inflation drops to 3.6pc February 14, 2012 British inflation fell sharply in January, supporting Bank of England forecasts for a hefty decline in 2012, after a rise in sales tax a year earlier dropped out of the data, official figures showed on Tuesday. The Office for National Statistics said that consumer price inflation fell to 3.6 per cent in January from 4.2 [...]
