Joblessness is down again on USA recovery November 17, 2011 THE NUMBER of new unemployment claimants in the US slid last week, Department of Labor figures showed yesterday. Weekly initial jobless claims slipped by 5,000 to 388,000 in the week ending 12 November, taking claims to their lowest since April. The figure stood 53,000 higher in the same week last year. The insured unemployment rate [...]
Confidence falls to all time low on Europe fears November 16, 2011 WORRIES about the Eurozone crisis and the slowing domestic economy have pushed consumers to their gloomiest mood ever, according to Nationwide’s monthly confidence index, released this morning. Five consecutive monthly falls have taken consumer confidence to an all-time low of 36 points, 42 points below its long-term average of 76 points. Expectations, too, plummeted to [...]
EXPANDED MAREX SPECTRON CALLS ON BORIS FOR BISHOPSGATE MOVE November 16, 2011 WE ARE positive about the outlook for our business, said broker Marex Spectron when it unveiled its 83 per cent boost in operating profits on Tuesday night. No charitable donations were paid out during the year to 31 March – just dividends to shareholders of £5.3m – but all that changed as of yesterday, when [...]
Real earnings rebound in the United States November 16, 2011 FALLING prices and rising wages are boosting US consumers’ spending power, figures released yesterday by the Bureau of Labor Statistics revealed. Average hourly earnings rose 0.2 per cent from September to October, while the consumer price index fell by 0.1 per cent over the same time period, leading to an overall rise in real wages [...]
US recovery keeps pace as retail and manufacturing rise November 15, 2011 US RETAIL sales expanded in October, while the decline in manufacturing came to a halt, according to upbeat figures released yesterday by the Commerce Department and the New York Fed, boosting hopes that the US will avoid the slump hitting many European economies. Sales increased by 0.5 per cent month-on-month and were 7.2 per cent [...]
Fed leaders split on QE impact November 15, 2011 Increasing asset purchases would risk higher inflation, St Louis Fed president James Bullard said yesterday – though Chicago Fed boss Charles Evans said he policy could be extended to provide an extra boost to the economy. “Asset purchases are a potent monetary tool,” said Bullard. “They must be used carefully because increases in the size [...]
US retail sales rise and wholesale prices fall November 15, 2011 Retail sales and manufacturing output data from the US offers a heartening picture of gradual pick-up in the economy in the final months of the year. US. retail sales rose broadly in October, suggesting the US started the fourth quarter with some vigour, and the first drop in wholesale prices in four months has pointed [...]
Merkel: Euro crisis worst since WW11 November 14, 2011 German Chancellor says Eurozone situation is most serious since peace broke out in 1945 as yields on sovereign debt shoot up EUROPE faces its “toughest hour since World War Two”, German Chancellor Angela Merkel warned her ruling Christian Democratic Union (CDU) party yesterday. Her stark warning came as Italy slipped further into financial crisis and markets [...]
Eurozone industrial output falls two per cent November 14, 2011 Eurozone industrial production fell in September compared to August, the European Union’s statistics office has said, stoking fears of a rising chance of recession across the region. Eurostat said output at factories in the 17 euro nations was down two per cent for the month, after a stronger than expected 1.4 per cent expansion in [...]
Markets hoping for economic decisions November 13, 2011 WEDNESDAY’S sharp sell-off across major global stock indices showed just how skittish markets are currently. The slump in Italian bond prices did the damage as yields flew higher. The situation calmed down towards the end of the week as the political situation in Greece and Italy became clearer. Former ECB vice president Lucas Papademos was [...]