ONS postpones GDP revision June 29, 2010 The Office for National Statistics yesterday announced that it would postpone its revision to first-quarter GDP because “quality assurance revealed potential errors in some of the detailed figures”. The revision should have been published today but it has been delayed until 12 July.
Investors sell share holdings June 29, 2010 Institutional investors profited from the 2009 stock market rally to sell off more than £11bn in ordinary UK shares during the first quarter of 2010, the ONS said yesterday. However, they purchased £12.2bn worth of UK government gilts. Total net investment was estimated to have been £5bn compared to the £25.1bn seen in the last [...]
Economic retail sales fall again June 29, 2010 The Eurozone retail sales purchasing managers’ index fell for the sixth consecutive month, according to Markit. The seasonally-adjusted headline measure rose to 49.7, signalling a slower pace of decline. Italy was the main source of weakness but German sales rose at a robust pace, ending two years of continuous decline. Spanish retail sales fell by [...]
Eurozone sentiment improves June 29, 2010 Eurozone economic sentiment edged up again in June to 98.7 from 98.4 in May but confidence is still well below April’s levels and appears to be fragile in the face of the Eurozone sovereign debt crisis. Eurozone business confidence was essentially stable in June following May’s relapse.
US consumer confidence slumps June 29, 2010 Confidence in the US plunged in June according to the monthly Conference Board survey. It dropped almost 10 points to 52.9, taking the index down to levels not seen since last November. Analysts pointed out that a fall of a similar magnitude in February wasn’t reflected in other surveys.
US house prices rise in April June 29, 2010 US house prices rose 0.44 per cent in April on the previous month according to the S&P Case-Shiller composite index. But this was before the homebuyer tax credit expired so it may not reflect a renewed upturn, warned analysts.
Coalition told to save banks June 29, 2010 BREAKING up banks such as HSBC would be “an act of vandalism” which would profoundly damage Britain’s standing as an international financial hub, an influential industry magazine warns today. Institutions with strong overseas operations would move abroad, while those who remained would be severely weakened, according to The Banker. The journal, which published its index [...]
Retirement savings in new dip June 29, 2010 Pension specialists say only 48 per cent of people are putting aside enough money for retirement – a drop of six per cent on 2009. The Scottish Widows Pension Index found that 21 per cent of people who the provider believes have the ability to save and should be doing so are not putting any [...]
Climate change bill £84 a year June 29, 2010 Households are typically being charged more than £80 a year in hidden taxes to help combat the impact of climate change, according to research by price comparison website uSwitch.com. On average, households pay £84 a year in hidden taxes on their energy bills and the figure is likely to rise. The group warned the taxes [...]
Grade faces calls to stand down at Pinewood AGM June 29, 2010 UNDER-FIRE Pinewood Studios chairman Michael Grade faced calls to stand down yesterday in the wake of the firm’s annual meeting. The charismatic former ITV boss faced a barrage of questions from rebel shareholder Crystal Amber, which holds an 18 per cent stake in the film and TV studio. The investor yesterday reiterated its calls for [...]
