G20 reassures that it will tackle food price inflation January 7, 2011 THE Group of 20 leading economies have started working-level talks on the soaring food prices that are stoking fears of a repeat of the 2008 food crisis. Global food prices hit a record high last month, outstripping the levels that sparked riots in several countries in 2008, and key grains could rise further, the United [...]
Falling real wages don’t have to mean pain January 6, 2011 THANKS to inflation of 4.7 per cent, most workers will probably see cuts in the real purchasing power of their salaries in 2011. But there is no reason for that to cut into your living standards. Here are some easy New Year’s resolutions to follow that will help you endure austerity Britain without feeling too [...]
Service sector activity plunges to 20-month low January 6, 2011 Large swathes of the service sector suffered their first fall in output since April 2009 last month, a major survey showed on Thursday, pointing to a sharp slowdown in economic growth at the end of 2010. GDP probably grew by just 0.4 per cent in the last three months of 2010, lower than many economists [...]
New Year boom sees FTSE lifted over the 6,000 mark January 4, 2011 BRITAIN’S top shares rose sharply yesterday, the first session of 2011, lifted back above the key 6,000 level by heavyweight oil stocks and banks, as solid economic data prompted a return of investor risk appetite. Fresnillo, the Mexican silver miner, jumped 85p to £17.53 on revived talk that billionaire Carlos Slim might be taking a [...]
Eyes on ECB interest rates, as inflation in Eurozone jumps to a 26-month high January 4, 2011 INFLATION across the Eurozone increased to 2.2 per cent in December, its highest level for over two years, it was estimated yesterday. The jump of 0.3 per cent from November’s rate takes consumer price index (CPI) inflation above the European Central Bank’s (ECB) target of “just below” two per cent. It is the first time [...]
Euro Zone inflation higher than expected January 4, 2011 Euro zone inflation was higher than expected in December, exceeding the European Central Bank’s target for the first time in two years, but economists believe the bank will keep interest rates unchanged well into 2011. The European Union’s statistics office Eurostat estimated that prices in the 16 countries that shared the euro currency in December [...]
Manufacturing activity grows at fastest pace in 16 years January 4, 2011 Manufacturing activity grew at its fastest pace in over 16 years in December and firms’ costs rose at a record pace, suggesting at least one sector of the economy may be ready for higher interest rates before the end of 2011. The Markit/CIPS manufacturing Purchasing Managers’ Index (PMI) rose to 58.3 in December, its highest [...]
US consumer spending up but jobless claims remain high December 23, 2010 US CONSUMERS spent more in November for a fifth consecutive month while incomes also rose slightly more than expected, according to the latest government data. Spending rose 0.4 per cent after increasing by an upwardly revised 0.7 per cent in October, the Commerce Department said, reinforcing views of a solid economic growth pace in the [...]
What the other papers say this morning December 22, 2010 FINANCIAL TIMES PATTEN TOPS LIST TO CHAIR BBC TRUST Six people are on the shortlist to be the next chairman of the BBC Trust, according to two insiders who have seen the document. Lord Patten, former Conservative party chairman and the last governor of Hong Kong, is clear favourite. But Sir Howard Davies, director of [...]
Relapse for consumer confidence in the Eurozone, as trade deficit grows December 20, 2010 HOPES for a retailing resurgence across the Eurozone took a hit yesterday, with news that consumer confidence has dropped more sharply than expected. In November the confidence index rose to a 35-month high, yet appears set to drop in December, according to the European Commission’s “flash” reading. The full reading for the month will be [...]