Jagdip Cheema

UK Third Quarter Growth Less than Expected

Dec 21 2012 @ 10:26
There was bad news for chancellor George Osborne as official figures showed growth in the UK economy was slower than initially thought in the third quarter, along with a deterioration in public finances last month. The UK economy grew by 0.9% in the third quarter of the year according to the Office for National Statistics […]
 

No End of Year Rise for UK Retail Sales

Dec 20 2012 @ 11:11
UK retail sales unexpectedly stagnated in November as spending at department stores slumped the most in almost two years. The Office for National Statistics (ONS) announced sales volumes were flat in November compared with October. Retail sales had been expected to bounce back after October’s shock 0.8% fall. Anna Leach, analyst at the Confederation of […]
 

World Bank Raises Growth Forecast for China

Dec 19 2012 @ 07:34
The World Bank has raised its growth forecast for China, as a result of stimulus measures and approval of infrastructure projects which will boost growth. The bank has revised its GDP growth target for China to 8.4% in 2013, up from an earlier forecast of 8.1%. The World Bank’s upward revision of China’s growth prospects […]
 

Ofgem Permits £12 Rise in Energy Bills

Dec 17 2012 @ 07:27
Ofgem, the energy regulator will permit firms running the UK’s electricity and gas grids to add an average £12 to annual energy bills up until 2020, to pay for upgrades and maintenance. The proposals are part of plans to radically overhaul Britain’s ageing energy infrastructure over the next eight years, as set out in its […]
 

S&P May Downgrade the UK

Dec 14 2012 @ 07:35
Standard & Poor’s has become the latest credit rating agency to give the UK government a scare, by downgrading the outlook on Britain’s triple A rating to negative. Fellow agencies Moody’s and Fitch both revised the UK to negative outlook earlier this year. S&P said “The outlook revision reflects our view that we could lower […]
 

2013 with a Silver Lining - Part 1

Dec 14 2012 @ 07:01
Inflation Down, Eurozone on the Brink AUSTERITY VS INFLATION Politicians don’t like inflation and current austerity dogmas will curb it in the following years.  Goods and services prices will slightly decrease in the UK, US and EU countries. Cutting interest rates even more will prove to be useless: the percentage of inflation we have now […]
 

Gas Fracking Given the Green Light

Dec 13 2012 @ 06:48
The UK government has given the go-ahead for Cuadrilla to resume it’s controversial technique known as fracking to exploit gas in Lancashire. Cuadrilla, a UK firm specialising in shale gas, was stopped from fracking after two small earthquakes occurred during it’s previous drilling programme in Blackpool. Fracking involves drilling down and creating tiny explosions to […]
 

Fiscal cliff talks ongoing

Dec 11 2012 @ 12:53
Fiscal cliff talks between US President Barack Obama and Republican House speaker John Boehner, have been continuing both sides have said. With the end of year deadline looming, both parties are under pressure to ensure an agreement is reached. Deep spending cuts and tax rises due to take effect on 1 January, threaten to halt […]
 

US and UK agree on ‘struggling banks' plan

Dec 10 2012 @ 13:01
The US and UK have issued a joint paper outlining an action plan for struggling banks. The plan hopes to protect the tax payer from costly financial bail outs. The plans would involve the creation of one single regulator, which would be responsible for overseeing the insolvency of a big international bank. The plan was […]
 
 
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