Halifax reveals a surprise June house price rise July 5, 2012 House prices rose in June bucking the overall downward trend, according to a closely-watched gauge. Halifax’s house price index shot up one per cent in June compared to May, although overall it dropped by 0.5 per cent year-on-year. However, the annual change is a much less sharp drop than the falls seen a year ago, [...]
Positive US jobs figures marred by slowdown in services growth July 5, 2012 STRONG jobs data provided a boost for the US yesterday, although separate economic figures suggested that the recovery remains bumpy. The American private sector created 176,000 jobs in June, the ADP national employment report said, comfortably beating economists’ forecasts. In May US companies also added 136,000 jobs – a figure that was revised slightly upwards, [...]
Irish state pays less than Spain in strong debt market re-entry July 5, 2012 THE IRISH government’s borrowing costs dropped below Spain’s yesterday, as the celtic nation continued its recovery from collapse and Spain continues to struggle close to the brink. Meanwhile Germany’s industrial output kept rising in May despite the weak state of its Eurozone neighbours. Despite much of the rest of the currency area being in recession, [...]
UK’s GDP dragged lower by sharp slump in net exports July 5, 2012 UK GDP was dragged down by a slump in net exports and significant running down of inventories, despite the counterweight made by growing government consumption, according to OECD research published yesterday. GDP’s fall of 0.3 per cent in the first quarter was driven mainly by contributions of -0.5 per cent from running down stocks of [...]
Fuel and tax worries drive UK motorists to favour diesel cars July 5, 2012 BRITAIN’S car industry continued to grow rapidly in June, sector data showed yesterday, with diesel vehicle registrations surging as consumers sought improved fuel efficiency. Last month saw 189,512 cars registered, up 3.5 per cent compared with the same month of 2011, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The rise [...]
German economists hit back at Merkel’s banking union dreams July 5, 2012 MORE than 150 economists led by the head of Germany’s influential Ifo think-tank yesterday hit out at Europe’s plans for a banking union, as set out by Chancellor Angela Merkel last week. In an open letter to a German newspaper, Hans-Werner Sinn and other experts said forcing Europe’s biggest economy to extend its liabilities to [...]
Greece drops bailout demands July 5, 2012 Greece yesterday indicated that it would drop plans to seek easier terms for its bailout. Amid expectations that international leaders would bulk at any softening of its loan conditions, Yannis Stournaras, the new coalition government’s finance minister, said he would seek to accelerate cost-cutting reforms first. “The programme is off-track and we can’t ask for [...]
Factory workers look abroad July 5, 2012 Workers in British factories are more likely to look abroad for job opportunities than employees in other sectors, according to a survey released this morning by totaljobs.com. Across the whole workforce, America remains the most popular destination for potential emigrants, with Spain staying strong in fourth place, despite its economic and banking crisis, which has [...]
Skill gaps despite record grades July 5, 2012 Huge numbers of workers have skills gaps, despite rising educational qualifications, said the Office for National Statistics yesterday. In 2011 employers reported that roughly 1.5m employees had skills gaps, despite nearly 53 per cent achieving five or more GCSEs at grades A* to C in the school year 2009/10.
UK oil industry issues warning over regulation July 5, 2012 PLANS from Europe for further regulation in the oil and gas industry would hit the UK, a report published yesterday warned. The Oil and Gas UK 2012 economic report claims that production will be hampered by the proposed new measures which will put regulation in the hands of Brussels. EU-wide rules on offshore drilling will [...]
