Economy NEWS

US banks see higher earnings on capital market activity, mortgage refinancing

Increased capital market activity drove stronger earnings and increased profitability for major US banks in the third quarter of last year, according to ratings agency Fitch Ratings. Fitch said that strong debt issuance, … Continue reading “US banks see higher earnings on capital market activity, mortgage refinancing”


US economy poised for growth, but austerity threatens

According to a report from Canada-based financial services firm Toronto Dominion’s (TSX: TD) (NYSE: TD) US-based TD Bank’s TD Economics affiliate, the main obstacle standing in the path of faster US economic growth is a strong headwind … Continue reading “US economy poised for growth, but austerity threatens”


HM Treasury allocates £200m to Pru for UK middle market investments

The investment management unit of international financial services group Prudential Financial (NYSE: PRU), Prudential Capital Group, said that UK economics and finance ministry Her Majesty’s Treasury has allocated GBP 200m (about USD 323m) of a … Continue reading “HM Treasury allocates £200m to Pru for UK middle market investments”


UK chancellor confirms lower expectations for economic growth

The UK economy is now expected to contract by 0.1% in 2012 and then grow by 1.2% in 2013, the Office for Budget Responsibility announced today. This is a significant downgrade from predictions … Continue reading “UK chancellor confirms lower expectations for economic growth”


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”


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