CBI: Financial companies to slash 17.000 jobs in first six months
British financial-services firms will slash approximately 17.000 jobs in the first half of 2010, despite the fact that confidence gains momentum, according to the Confederation of British Industry (CBI). McCafferty, the CBI chief economic adviser, stated:
Read more...EU heads of government: economic revival is still weak
The recovery of the European economy remains ‘weak’ and sustainability is required before withdrawing crisis support measures, according to the government heads of the 27-nation EU. “The economy is recovering, but the revival remains weak,” the draft statement by the European Union leaders shows.
Read more...Another rise in new orders for US durables, home sales plunged
For the third consecutive month, new orders for American durables increased in February due to companies rebuilding stocks by the biggest margin in more than twelve months, which indicates that manufacturing continues to strengthen.
Read more...British economy will recover slowly in 2010
Economists have forecasted that the British economy will recover slowly in 2010, two days before this week’s Budget. The Confederation of British Industry (CBI) stated that the economy will expand by 1% this year, while the economic revival will remain restrained until mid 2011.
Read more...Greek budget crisis continues to affect Euro – Loonie down on oil decline
The Common European Currency continued to fall against the majority of the 16 key currencies, due to the fact that the European Union and Greece can’t agree about how the Greek budget problems
Read more...World Bank lifts growth estimation Chinese economy
The World Bank, which aims on reducing poverty, has lifted its 2010 economic expansion estimation for the People’s Republic of China (PRC) from 9% to 9.5%. Household consumption and consumption by businesses will increase considerably, despite the fact that the government will withdraw
Read more...Japanese consumer confidence increases for second month in a row
Japanese confidence increased for a second consecutive month in February, due to joblessness reaching the lowest level in almost one year and as a result of the less deteriorated job market, while salaries started to rise. Japan’s exports are improving and stimulate the enervated economy, which provided
Read more...Sterling up on inflation expectations – Canadian Dollar continues its uptrend
The Pound Sterling rose against currencies from its key trading partners, due to increasing chances that inflation will rise in the UK boosting demand for Pound-priced investments, since it could result in a number of interest hikes by the UK central bank. The Canadian Dollar has performed extremely well, as it
Read more...Chinese exports rose strongly
Chinese exports rose by 46% last month in comparison to last year, increasing expectations for a major improvement in worldwide trade. The rise exceeded analysts’ expectations who forecasted an increase between 35% and 40%. This will probably lead to more pressure
Read more...German industrial output rose in the first month of 2010
German industrial output increased in the first month of this year on the back of energy production rising strongly during the harsh winter, compensating a downfall in construction activity.
Read more...US companies cut fewer jobs than forecasted
The US jobless rate stabilized in February due to American companies cutting less jobs than forecasted, official figures demonstrated this Friday. These positive data strengthened hopes that the US economy has overcome the most intense period of the economic crisis.
Read more...Nationwide: British consumer confidence climbs to highest level in two years
Nationwide Building Society revealed that consumer confidence in the United Kingdom improved to the highest level in two years last month, as the economy found its path out of recession. The gauge of sentiment jumped six points in comparison to January to 80, the building society stated this
Read more...UK manufacturers more positive about their prospects
Industrial companies in the UK are more optimistic about their outlook than any time since the start of the financial slump more than 24 months ago, the Engineering Employers Federation (EEF) reported. British orders and output improved better than forecasted since the
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