The UK Economy

The eurozone economy is now 0.4pc smaller than it was a year ago, whist the region contracted 0.2 pc in the second quarter, eurozone GDP figures released this morning show. Weak household consumption across the region (Germany excepted) and slower investment plans are to blame, according to analysts. In other euro crisis news, there are concerns […]

With the release of the official July 2012 Retail Price Index, rail passengers can now calculate how much more they will be paying on average for the same tickets.  Excluding Northern Ireland, where fares are not related to RPI, rail users will experience higher prices throughout the UK come 1 January 2013.  While RPI is […]

Global economic data released yesterday and this morning seems  to confirm Europe is inching ever-closer to the financial abyss. The European Central bank cut its predicted growth rate for next year from one per cent to  just 0.6 per cent yesterday, whilst June’s UK trade deficit was confirmed as the largest since records began, £4.3 bn. Trade […]

Markets fell sharply yesterday after the European Central Bank (ECB) disappointed investors, hoping for quick action to contain the region’s ongoing debt crisis. ECB president Mario Draghi, who last week pledged to do whatever it takes to save the euro, said the central bank would gear up to buy bonds on the open market, but […]

Expectation is mounting ahead of Thursday’s key meeting of European Central Bank (ECB) officials, following president Mario Draghi’s promise the institution would do “whatever it takes” to save the euro. The ECB’s options range from buying more bonds of troubled member states like Italy and Spain, to making more cheap cash available to banks, or […]

Antonis Samaras, Greece’s new Prime Minister, this morning described the challenges the Greek government now faces as “Herculean”. In a speech to parliament, Samaras also said the Greek economy may shrink by more than seven per cent this year. It would not return to growth until at least 2014. The economically troubled nation’s central bank had previously forecast...

Spain’s much-needing banking system rescue, worth €100 bn, is expected to be ratified by EU finance ministers later today, The deal was yesterday backed by German lawmakers – although chancellor Angela Merkel was forced to rely on opposition votes yet again. Continuing problems in the Eurozone were blamed for higher than expected government borrowing figures in the UK.  Britain...

The International Monetary Fund (IMF) has warned the worst of the euro crisis may be yet to come, as it cut its global growth forecast again this week. The organisation warned predicted growth rates could be slashed further if Europe’s policy makers do not act fast enough, and/or with enough force to stamp out the region’s on-going debt crisis. The […]

Fifteen major global financial institutions were downgraded by Moody’s late last night, reflecting losses the ratings agency says are likely due to the current, ongoing volatile state of capital markets. Affected lenders included British banking giants Barclays, HSBC, RBS and Lloyds as well as Credit Suisse. The Swiss institution was dealt the harshest and most unexpected blow as...

According to Stocks & Shares TV, the board of Lloyds Banking Group will be making a decision soon as to approving the return of CEO; António Horta-Osório, who has been on medical leave since November, due to extreme fatigue.  UK Financial Investments has already indicated it is in favor of Horta-Osório’s return. UK Financial Investments […]