Cameron: Labour to blame for tough cuts May 25, 2010 DAVID Cameron launched a scathing attack on his Labour predecessors yesterday, accusing them of leaving the country in an “appalling mess” after thirteen years in power. In a sign that the Liberal-Conservative coalition intends to pin the blame for swingeing cuts on the former government, the Prime Minister used his inaugural Commons speech to round [...]
Businesses give a cautious welcome to Lib-Con plans May 25, 2010 BUSINESS leaders gave a cautious thumbs up to the Liberal-Conservative government’s first Queen’s Speech yesterday, but warned that tax rises and a crackdown on airport expansion would hurt the private sector. George Osborne’s decision to reverse most of the rise in employers’ National Insurance contributions won him plaudits across the business community. John Cridland, deputy [...]
How long can the coalition survive? May 25, 2010 THE COALITION government unveiled its first Queen’s speech yesterday, but will it survive in the face of deep spending cuts and a Eurozone crisis? Sign up to our panel at www.cityam.com/panel by 12pm to have your say. • How impressed or unimpressed have you been by the coalition government so far? • Do you think [...]
CITY VIEWS: DO YOU AGREE THAT THE GOVERNMENT’S PRORITY SHOULD BE REDUCING THE DEFICIT? May 25, 2010 GABRIELLE MCADAMS | WILLIS “I agree with the majority of the cuts so far and I agree that dealing with the deficit should be one of the top priorities, but the government shouldn’t jeopardise things like health and transport.” ZADE ALRIFAI | AXA “The government’s priority should be the economy but cutting the deficit at [...]
Boost for UK as growth is revised higher May 25, 2010 BRITISH policymakers breathed a deep sigh of relief yesterday when the Office for National Statistics (ONS) confirmed that first quarter UK GDP growth had been revised upwards to 0.3 per cent thanks to strong industrial production and business activity. The boost to the growth figure had been expected since the ONS released extremely strong industrial [...]
US confidence is riding high May 25, 2010 US consumer confidence rose in May to its highest level in more than two years as an improving jobs outlook defied for now the growing fears about European debt market turmoil and threats to global growth. By contrast, the US housing market, another pillar of the economy, is looking shaky after the expiration at the [...]
Gold prices rise as buyers go for safe-haven assets May 25, 2010 GOLD prices pushed higher yesterday, while platinum group metals took a heavy hit with other industrial metals, as investors feared a second economic slowdown could be triggered by European credit woes. Gains in gold were stunted by the euro’s losses to near four-year lows against the dollar. Meanwhile, platinum and palladium fell sharply, resuming the [...]
Fiscal cuts will not hamper Eurozone economic recovery May 25, 2010 BUDGET deficit cuts planned by many Eurozone countries to fight the sovereign debt crisis will dampen economic growth only marginally, European Union President Herman Van Rompuy said yesterday. “In the short term, the acceleration of fiscal consolidation will hamper growth in the Eurozone as a whole only marginally,” Van Rompuy told the Brussels Economic Forum [...]
Fed’s Bullard says EU debt crisis will help US achieve its bullish forecasts May 25, 2010 SAFE-HAVEN flows to the United States triggered by concerns about the Eurozone debt crisis will be beneficial for the United States, St. Louis Federal Reserve President James Bullard said yesterday. At an economic seminar in London, he added that this would help the US economy achieve its growth forecasts for the next few years, provided [...]
March factory orders up at fastest rate in decade May 25, 2010 EUROZONE industrial new orders rose in March at their fastest rate in 10 years, data showed yesterday, giving a new sign that economic activity is likely to pick up strongly in the second quarter. The European Union’s statistics office, Eurostat, said industrial new orders in the 16 countries using the euro jumped 5.2 per cent [...]
