Sunday, 17 April 2011

Economics

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

ECONOMICS NEWS

Britain 'will not join eurozone bail-out fund'

Britain will not be part of any future eurozone bail-out fund, officials from the UK have told their European counterparts in the face of pressure to back a new safety net for troubled countries from 2013.

16 Apr 2011

Barclays shareholders want to leave London

A group of major shareholders in Barclays has made it clear that it would prefer the British bank to be domiciled outside the UK.

16 Apr 2011

The BRIC countries’ Hainan summit could make the G20 redundant

The West’s political and financial elite is still a very long way from grasping the extent to which the global centre of economic gravity is now shifting – and the implications in terms of relative and absolute living standards.

16 Apr 2011

Spain jobless total 'could pass 5m'

The number of unemployed in Spain, which has the highest jobless rate among developed countries, could reach a record of more than 5m, the labour minister has warned.

16 Apr 2011

A King outranks a Chancellor on BA flight

Question. Who is more important: the Chancellor of the Exchequer or the Governor of the Bank of England? British Airways appears to have the definitive answer – it's the Governor.

16 Apr 2011

China continues to show strong growth but so does inflation

China's runaway growth was even stronger than expected at the start of this year, official figures showed, stoking fears about overheating as inflation rocketed to a 32-month high.

16 Apr 2011

G20 communique from Washington: in full

The full text of the communique from finance officials of the Group of 20 major economic powers after their meeting in Washington on April 15.

15 Apr 2011

Osborne: Labour left 'isolated' by Obama's cuts

The Labour Party has been left "entirely isolated" in its soft approach to deficit reduction, George Osborne said on Friday, after President Barack Obama unveiled a consolidation programme that puts the UK's in the shade.

15 Apr 2011

Greece fails to reassure markets with €76bn debt 'road-map'

Greece left markets disappointed after it sketched out fresh measures to shrink its debts but put off giving detail until after Easter.

15 Apr 2011

Ireland downgraded and Greece disappoints: reaction

After Greek borrowing costs soared on fears about a restructuring of its debt, credit rating agency Moody's cuts Ireland's debt rating to one level above 'junk'. Here's what the analysts had say.

15 Apr 2011

US consumer inflation gains most in 15 months

Rising food and petrol prices pushed the US cost of living to its largest year-on-year gain in 15 months, official figures showed on Friday.

15 Apr 2011

EU debt costs rise after Ireland downgrade, Greek delays

Borrowing cost for the eurozone's most indebted economies rose on Friday after Moody's cut Ireland's rating to just above "junk" and Greece delayed fleshing out fresh austerity and privatisation plans.

15 Apr 2011

Eurozone inflation hits 2.7pc, raises rate rise fears

Eurozone inflation has hit 2.7pc and is above 3pc once Britain and the rest of the EU are included, raising expectations of sharper interest rates rises.

15 Apr 2011

Moody's downgrades Ireland's debt

Moody's has downgraded Ireland's debt rating to just above junk status, citing "weaker economic growth prospects" and "uncertainty" created by EU solvency tests.

15 Apr 2011

China inflation jumps amid growth

China's turbo-charged growth eased slightly in the first quarter, while inflation jumped to a 32-month high, putting pressure on the government to do more to control rising food prices.

15 Apr 2011

BRICS warn over commodity prices

The roller-coaster path of commodity prices threatens the global recovery, the BRICS group of new economic powers warned.

14 Apr 2011

Greek debt default fears grow

Fears that Greece will default on its debts soared on Thursday as the German finance minister admitted that a restructuring may be needed, despite last year's €110bn (£97bn) bail-out.

14 Apr 2011

Economists undergo George Soros' Krypton Factor test

It's no surprise that the Bretton Woods agreement evokes nostalgia. Delegates from the 44 Allied countries remade the world's financial order in July 1944.

14 Apr 2011

Joblessness is biggest recovery threat

High unemployment is the biggest threat to the global recovery, the head of the International Monetary Fund has warned, as the Bretton Woods institution moved joblessness to the top of its agenda for economic stability.

14 Apr 2011

Who will save America from drowning in debt?

Both parties have failed to come up with any plan to solve this crisis, writesJeremy Warner.

14 Apr 2011

Food prices now in 'danger zone'

World Bank warns food prices have entered the “danger zone”, threatening to condemn a generation to extreme poverty and malnutrition.

14 Apr 2011

IMF: Banks' $3.6 trillion 'wall of debt' a threat

The "most pressing" challenge facing the global recovery is funding banks and governments, according to the International Monetary Fund (IMF), which warned that a major hurdle was looming.

14 Apr 2011

UK confidence picks up from record low

Consumer confidence has rallied after crashing to a record low, offering hope of some respite for businesses suffering as worried Britons rein in their spending.

14 Apr 2011

China inflation threat underestimated

China is poised to become an "exporter of inflation to the rest of world", according to L&G Investment Management (LGIM), which warned that the threat from rising prices in China is underestimated.

13 Apr 2011

Banks facing $3.6 trillion 'wall of maturing debt', IMF says

Debt-laden banks are the biggest threat to global financial stability and face refinancing $3.6tn of debts coming due in the next two years, the IMF has said.

13 Apr 2011