Sunday, 18 July 2010

LATEST ECONOMICS NEWS

US markets slump on double-dip fears

Wall Street plunged on Friday after disappointing economic data and worse-than-expected corporate earnings prompted fears of a double-dip recession.

16 Jul 2010

Kenneth Clarke to slash Legal Aid budget

Legal Aid faces “brutal” cuts that will restrict public spending on legal advice for cases ranging from immigration to divorce.

16 Jul 2010

House prices 'to crash 20pc by 2012' as Budget bites

House prices will crash more than 20pc in two years due to Government cuts, tax rises and a surge in unemployment, says leading economic forecaster.

16 Jul 2010

Are house prices set to fall again?

There is a good chance that homes will be worth less than they did in 2007.

16 Jul 2010

Interest rates won't rise yet, says Bank of England policymaker

It would be wrong to raise interest rates now because the risk of only weak growth over a prolonged period is real, David Miles, a Bank of England policymaker said.

16 Jul 2010

MPs given power of veto over OBR chairman

George Osborne is taking unprecedented measures to preserve the independence of the Office for Budget Responsibility (OBR) aft

er a series of attacks on its credibility.

16 Jul 2010

Middle class had biggest losses from financial crisis

Educated middle-class households have suffered the biggest financial losses from the recent economic downturn and many people could be forced to delay retirement as a result, new research has shown.

15 Jul 2010


Fed's volte face sends the dollar tumbling

Rarely before have a few coded words in the minutes of the US Federal Reserve caused such an upheaval in the global currency system.

15 Jul 2010

US jobless claims fall as factories stay open

The number of Americans claiming unemployment benefit fell sharply last week to the lowest level in nearly two years.

15 Jul 2010

China's economic growth eases

China's staggering economic growth is slowing as the Beijing government applies the brakes.

15 Jul 2010

Recession cost wealthy households £25,000 each

Wealthy families have lost an average of £25,000 as a result of house price and stock market falls, research has indicated.

15 Jul 2010

Spain calls on ECB for record funding

Spanish banks called on a record amount of funding from the European Central Bank (ECB) in June amid mounting volatility on financial markets.

15 Jul 2010

UK long-term unemployment soars to 1997 levels

The number of people that have been without a job for more than 12 months has soared to its highest level since 1997, official figures have shown.

15 Jul 2010