Sunday, 20 February 2011

Economics

The latest news, analysis and comment on the UK and global economy.

ECONOMICS NEWS

China's influence is on the rise – the West must stop this self-delusion

The Middle East could be heading for a game-changing implosion. US bond yields are surging and Western central banks, despite growing tension within their ranks, remain in ostrich mode.

19 Feb 2011

US House passes $61bn of cuts to domestic programs

The US House of Representatives passed sweeping legislation early Saturday to cut $61bn (£37.8bn) from hundreds of programs that will affect foreign aid, aid for schools, and heating and housing subsidies for the poor.

19 Feb 2011

Pensioners £80bn 'out of pocket'

Pensioners have lost out on around £80 billion because the rate of inflation was underestimated for the past 12 years, experts have warned.

19 Feb 2011

G20 Paris: Nicolas Sarkozy calls for action against inflation's 'great threat'

Inflation poses a "great threat" to global growth, risking dangerous unrest if food prices soar out of people's reach, Nicolas Sarkozy, the French president, has warned the world's finance ministers.

19 Feb 2011

Bernanke defends easy money policy and calls for currency reform

US Federal Reserve Chairman Ben Bernanke defended his country's easy money policy ahead of the G20 leaders meeting in Paris, and joined Bank of England Governor Mervyn King in calling for currency reform.

18 Feb 2011

G20 Paris: the key issues

Finance ministers and central bank chiefs from the Group of 20 nations a meeting on Friday and Saturday. Here are the main topics up for discussion.

18 Feb 2011

UK retail sales rebound: reaction

Retail sales rebounded in January after heavy snow caused the biggest December month-on-month fall in retail sales on record, the Office for National Statistics said.

18 Feb 2011

Retail sales bounce back in January

Sales rose 1.9pc during the month after heavy snow caused the biggest December month-on-month fall in sales volumes on record.

18 Feb 2011

King warns world at risk of protectionism or another crisis

The world is at risk of renewed protectionism or financial crisis if policymakers do not agree to currency and other reform, Bank of England Governor Mervyn King said as G20 leaders prepared to meet in Paris.

18 Feb 2011

China house prices rise despite curbs to deflate bubble

China’s sky-rocketing property market is still going up, despite a raft of cooling measures introduced by the Chinese government in recent months, official data for January has shown.

18 Feb 2011

Sarkozy dares to dream in a G-Zero world

Today’a G20 meeting for finance ministers and central bankers is the first since Nicolas Sarkozy appeared in Davos last month to give a spirited defence of the international talking shop which he now chairs.

18 Feb 2011

Middle East economies: by numbers

As investor concern heightens over the risk of contagion in the Middle East, here's a snapshot of the region's economies – from GDP to oil production.

18 Feb 2011

Bahrain: home to big businesses from Kraft to KPMG

Bahrain sees itself as the business hub to the Middle East.

18 Feb 2011

Bahrain killings bring turmoil to oil epicentre

Escalating violence in the Persian Gulf and North Africa have raised widespread concerns over the stability of global oil supplies for the first time since the Mid-East turmoil began.

18 Feb 2011

Industrial recovery gathers momentum

The resurgence of British manufacturing is continuing to gather pace, according to the latest industrial trends survey from the CBI, but inflationary pressures are building.

18 Feb 2011

Who'll win the war of words, King or Sentance?

Andrew Sentance's latest swipe at Mervyn King - and the other Monetary Policy Committee members who are still resisting an interest rates rise - was timed for maximum devastation.

18 Feb 2011

BoE Governor 'too political’ warns Ed Balls

Mervyn King is risking the credibility of the Bank of England by appearing to endorse the Government's tough austerity measures, Ed Balls has warned.

18 Feb 2011

Sentance steps ups rate rise battle

Andrew Sentance, one of the Bank of England's nine rate-setters, launches fierce attack on his colleagues' delay in raising interest rates, warning the Bank's official forecasts are "too optimistic" about inflation.

17 Feb 2011

Number of new homes built lowest since 1923

The number of new homes completed in England last year fell to its lowest level since 1923, Government figures showed nn Thursday.

17 Feb 2011

US inflation and weekly jobless claims rise

The US cost of living rose at the quickest pace in more than a year in January, but the increase was not strong enough to suggest a troubling build-up in inflation pressures.

17 Feb 2011

Sentance attacks BoE forecasts

Bank of England rate-setter voices open criticism of the Bank's economic forecasts, saying interest rates need to rise faster than markets expect to bring inflation back to target.

17 Feb 2011

Whitehall won't be 'nudged', finds NAO

David Cameron's "Behavioural Insight Team" – billed as the answer to achieving social change without resorting to regulation – has failed to convince a single Whitehall department to make use of its services.

17 Feb 2011

Inflation 'effectively cuts pay' for workers

Workers have been hit by what are effectively pay cuts as they face inflation at a two-year high, official figures revealed.

17 Feb 2011

Fears grow for a jobless recovery

Government spinners battled valiantly to offer a rosy view of the latest jobs figures, saying the labour market is stabilising after a "difficult few months", but the headline figures which shape the public's mood were gloomy.

17 Feb 2011

Interest rate rise timing leaves pundits puzzled

Let the guessing games begin. Will interest rates rise in May, as the markets were predicting on Monday, or end the year unchanged at their current record 0.5pc low?

17 Feb 2011