German industrial orders see rebound March 8, 2011 GERMAN factory orders bounced back in the new year after a weak December, official data showed yesterday. Industrial orders were up 2.9 per cent in January compared to December, when they dropped by a downwardly revised 3.6 per cent. The jump surpassed the expectations of economists, and suggest that the Eurozone’s powerhouse economy is “surging [...]
UK trade deficit expected despite stronger exports March 8, 2011 THE UK is undergoing a “two speed” recovery, with exporting companies set to take advantage of greater demand abroad than at home, a survey revealed today. “Confidence in international trade is robust as exporters thrive on a global rebound but confidence in the current UK economic climate is at a record low as consumer demand [...]
Upbeat French morale boosts hopes for GDP March 8, 2011 FRENCH business confidence remained strong into February, the Bank of France revealed yesterday. The Bank’s measure of sentiment for manufacturing held at a high index rating of 110, while service sector morale rose by one point. The scores prompted the Bank to anticipate GDP growth of 0.8 per cent for the first quarter of the [...]
US outcry at Gbagbo cocoa grab March 8, 2011 A move by Ivory Coast’s Laurent Gbagbo to take the cocoa sector into state hands “amounts to theft,” the US State Department said yesterday. Ivory Coast state television said that Gbagbo had issued a decree under which the state becomes the sole purchaser of cocoa in the world’s top grower and handles its export to [...]
UK records highest G7 inflation March 8, 2011 The Organisation for Economic Co-operation and Development’s annual inflation rate was recorded at 2.1 per cent in January 2011, unchanged from the previous month. Of the G7 countries, the UK (four per cent) and Canada (2.3 per cent) recorded the highest rates of inflation for January, as the US (1.6 per cent) and Japan (flat) [...]
Sri Lanka holds interest rates March 8, 2011 Despite accelerating inflation and above-trend growth, the central bank of Sri Lanka kept interest rates unchanged yesterday, keeping its repo and reverse repo rates at seven per cent and 8.5 per cent respectively. Sri Lankan headline inflation jumped from 6.8 per cent to 7.8 per cent in February.
Retirees face decades of debt as living costs soar March 8, 2011 A FIFTH of UK retirees still have thousands of pounds of mortgage debt while a third owe money on credit cards, a report showed yesterday. Outstanding mortgage debt among over-55s has also risen by a fifth to more than £65,000 from £54,500 in February 2010, according to Aviva’s latest Real Retirement Report. The survey painted [...]
Geithner upbeat on global growth March 8, 2011 Europe’s efforts to save the euro were endorsed by US treasury secretary Timothy Geithner yesterday, during his trip to Germany. “The leaders of Europe have done the essential necessary things and they’ve made it clear they will do what is necessary not just to hold the euro together but to make sure that these reform [...]
Professional services shield capital March 8, 2011 London experienced a mild recession, compared to the rest of the UK, due to its high number of professionals, the Centre for Economic Performance said today.
Betfair eyes £30m saving via Gibraltar licence shift March 8, 2011 BETFAIR yesterday confirmed it will move its gambling licence to Gibraltar in order to save on its tax bill. The betting firm estimates it will save £10m in the next year and £20m the year after, taking advantage of Gibraltar’s one per cent tax on gross profit from betting. Betfair says part of the reason [...]
