Economy NEWS

Home repossessions in the UK continue to fall

The rate of home repossession in the UK continued to fall in the third quarter of 2012, the Council of Mortgage Lenders (CML) reported today. In its latest quarterly report, the CML said … Continue reading “Home repossessions in the UK continue to fall”


UK employees see wage growth of 62% over 25 years

Full-time employees in the UK are earning 62% more than they were 25 years ago, the Office for National Statistics (ONS) said today. As of April 2011 the average full-time wage had risen … Continue reading “UK employees see wage growth of 62% over 25 years”


Unemployment in Spain reaches new heights as tourism trade slows

Unemployment in debt-ridden Spain rose by 1.7% in September, according figures released by the country’s Labour Ministry on Tuesday. The increase in unemployment last month follows an increase in August, with 4.7 million … Continue reading “Unemployment in Spain reaches new heights as tourism trade slows”


UK Business Secretary unveils plans to cut employment law red tape

Proposals to limit compensation for unfair dismissal and to encourage settlement agreements to end employment relationships have been put forward by the UK government today. Business Secretary Vince Cable has announced a range … Continue reading “UK Business Secretary unveils plans to cut employment law red tape”


UK retailers John Lewis and Next post higher profit

Retailers John Lewis and Next, two of Britain’s biggest high street names, reported an increase in half-year profit in their financial reports released today. Employee-owned partnership John Lewis, which operates John Lewis department … Continue reading “UK retailers John Lewis and Next post higher profit”


OECD lowers forecast for UK economy in 2012

The Organisation for Economic Co-operation and Development (OECD) has said that it expects the UK economy to contract by 0.7% in 2012. This is a significant decrease from the OECD’s forecast in May … Continue reading “OECD lowers forecast for UK economy in 2012”


UK business groups expect economy to shrink this year

Leading business groups in the UK have downgraded their economic forecasts and called for action from the government. The British Chambers of Commerce (BCC) announced today that it expects the UK’s gross domestic … Continue reading “UK business groups expect economy to shrink this year”


Spanish deposits shrink by €74bn as recession deepens

Depositors in recession hit Spain withdrew EUR74bn from the country’s banks in July, according to figures from the European Central Bank (ECB). The deposit loss equals 7% of Spain’s GDP in a single … Continue reading “Spanish deposits shrink by €74bn as recession deepens”


Wet weather keeps shoppers away from Britain’s high streets

There was a decrease in the number of shoppers visiting high streets, shopping centres and out of town retail parks across the UK in the three months to July, according to a report … Continue reading “Wet weather keeps shoppers away from Britain’s high streets”


Euro crisis threatens the existence of the EU — Italian PM

Italian prime minister Mario Monti has warned that the sovereign debt crisis in Europe is not only threatening the existence of the eurozone, but also the European Union itself. Monti told German news … Continue reading “Euro crisis threatens the existence of the EU — Italian PM”


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