House prices in London hit a 3-year high May 31, 2011 HOUSE prices in London have jumped to their highest level since January 2008, figures from the Land Registry revealed yesterday. The average home in the capital cost £352,187 in April, up three per cent from the previous month. Prices were up by 0.8 per cent across the UK, yet remained 1.3 per cent below the [...]
Japanese industry starts to fight back May 31, 2011 JAPAN’S industry fought back in April after the devastating earthquake and tsunami the previous month, several data releases have shown. Industrial output and manufacturing activity have recovered from record losses in March, yet Japan still faces an upward climb, with unemployment rising to 4.7 per cent last month – high by Japanese standards. Car production [...]
Inflation goes up in OECD yet slows across Eurozone May 31, 2011 INFLATION has hit a 30-month high across member states of the Organisation for Economic Co-operation and Development (OECD), the group revealed yesterday, despite a slight easing of prices in the Eurozone. Consumer price inflation edged up to 2.9 per cent for the OECD in April, from 2.7 per cent in March, reaching its highest level [...]
Ireland set for one more year of recession May 31, 2011 IRELAND will emerge from recession in 2012, after four straight years of economic contraction, a report from Ernst and Young claimed yesterday. The Republic’s economy will shrink by 2.3 per cent this year, worse than previous forecasts, the report said. The recovery is expected to begin with 1.1 per cent growth next year and 2.2 [...]
CHINESE DROUGHTS FORCE UP FOOD PRICES May 31, 2011 DROUGHTS in China have placed even greater upward pressure on food prices, provoking a dilemma for the Chinese authorities, as they seek to control inflation. Pork prices have jumped in particular, further inflated by strong demand from May’s holidays. Food prices account for about a third of China’s consumer price index. Slower economic growth is [...]
German unemployment declines May 31, 2011 Unemployment in Germany has dropped every month for almost two years, it emerged yesterday. The jobless rate declined to seven per cent this month, the lowest rate since records began in 1991. However, the rate of decline was slower than expected by many economists, down by just eight thousand on the month.
Canadian Bank sounds hawkish May 31, 2011 Canadian interest rates were held at one per cent yesterday, yet a notably hawkish statement from the central bank drove the Canadian dollar and short-term bond yields higher as traders increased bets on rate hikes later this year. The comments suggest that tightening is not immediately on the cards, but should be expected later in [...]
Swiss GDP growth disappoints May 31, 2011 The Swiss economy grew slower than expected in the first-quarter, hit by lower investment and consumption, although exports proved robust in the face of a strong Swiss franc. Growth came in at 0.3 on the previous quarter, an annual expansion of 2.4 per cent.
India’s boom records slowdown May 31, 2011 India’s economy grew by a slower-than-expected 7.8 per cent in the March quarter from a year earlier, government data revealed yesterday. Economists had expected expansion of more than eight per cent.
CITY MOVES | WHO’S SWITCHING JOBS May 31, 2011 Wainbridge The property investment and asset management firm has appointed Graham Langlay-Smith as chief financial officer. Langlay-Smith joins from Credit Suisse, where he was a director of the European team of DLJ Real Estate Capital Partners. Prior to Credit Suisse, Langlay-Smith was chief financial officer of real estate developer TrizecHahn Europe, and has also held [...]
