Russia’s food ban sanctions against EU farmers threaten Eurozone August 8, 2014 Sanctions slapped on EU farmers by the Russian government could help to push Eurozone inflation even lower, potentially forcing price growth into negative territory. Inflation in the euro area is already running at just 0.4 per cent, where even a small drop could push the region into deflation. Economists fear the single currency could [...]
From Dar es Salaam to Luanda, Africa’s booming cities are a huge opportunity for UK firms August 6, 2014 Africa’s most populous and thriving cities pose huge opportunities for UK investors, with demographic growth that could triple the size of their economies in just a decade and a half, according to research released today. Although many European firms have accessed markets in Lagos, Kinshasa and Johannesburg, Africa’s three biggest cities, they are missing out [...]
Italy slumps back into recession as Renzi reforms fail to materialise August 6, 2014 Italy has slumped back into recession, with figures yesterday confirming a 0.2 per cent dip in output during the second quarter and casting a spotlight on the country’s dreary economic prospects. The dip in GDP comes after a 0.1 per cent decline in the first three months of the year. The Italian economy emerged from [...]
Ukraine concerns drive German bond yields to an historical low August 6, 2014 GERMAN bond yields touched another historical low yesterday, with the benchmark 10 year bond’s yield dropping to just 1.1 per cent, down from just below two per cent at the beginning of the year. Some analysts attributed a build up of Russian troops on the Ukrainian border as one of the reasons for the drop. [...]
UK house prices surging despite new regulation August 6, 2014 UK house prices rose at the fastest pace in seven years during July, up by more than a tenth, according to figures released by Halifax yesterday. The bank said that house prices had risen by 10.2 per cent over the 12 month period. The figures fly in the face of others indices, which indicate that house [...]
Russian markets drop further as Putin unveils new food sanctions August 6, 2014 RUSSIAN stocks took another hit yesterday, as the government in Moscow announced the expansion of its retaliatory sanctions, hitting out against the EU’s agricultural sector in particular. The Russian Micex index dropped by another 1.68 per cent to 1,335.14. The index has dropped by more than a tenth since the first week of July, before [...]
No sign of July slowdown as UK services roar ahead August 5, 2014 UK SERVICES are still steaming ahead, with businesses reporting the fastest growth this year, with little evidence of the slowdown many analysts are expecting for the second half of the year. Figures released by data firm Markit and the Chartered Institute of Purchasing and Supply (CIPS) shows the services sector is growing at the strongest [...]
Draghi speech gets credit for bond yield dip August 5, 2014 MARIO Draghi’s famous “whatever it takes” speech and other market-soothing interventions had a major effect on the cost of servicing debt for some of the Eurozone’s struggling finance ministries, according to research released yesterday. A working paper from the European Central Bank (ECB) itself says that the announcements cut two percentage points from two-year Italian [...]
Business activity speeds up for euro countries while France lags August 5, 2014 GROWTH ticked up in the Eurozone during July, according to the latest figures from Markit’s purchasing managers’ index (PMI). The Eurozone’s composite PMI figure rose to 53.8, the second strongest since 2011, with any number over 50 representing an expansion. Of the major economies in the currency union, France is the last with a score [...]
Retailers record fifth month of growth in a row August 5, 2014 HIGH street sales picked up again in July, with a 1.7 per cent boost in like-for-like spending, making for nearly half a year of rising retail spending. The figures, released by accountancy giant BDO today, are the fifth consecutive increase, driven upwards by homeware sales, which have risen by more than a tenth since the [...]