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Economics
Double blow for UK economy as manufacturers and retailers struggle
BRITAIN’S economy was dealt a double whammy of bad news today as retail sales fell at their fastest monthly pace in more than two years, while manufacturers’ confidence dwindled amid falling orders.
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Eurozone fallout could force Bank of England to print more money
FURTHER fallout from the euro-zone crisis is likely to prompt a fresh bout of money printing by Britain’s central bank, economists said yesterday, while business leaders questioned the effectiveness of such quantitative easing (QE).
MPC was “finely balanced” on further QE
Members of the Bank of England’s monetary policy committee voted eight to one against printing more money this month but hinted they may change their minds if the economy does not improve.
Adam Posen urges Europe to act ‘more robustly’ to rescue failed banks
BANK of England policymaker Adam Posen has called on European countries to intervene more robustly in the financial crisis, saying they should not be afraid to nationalise their failing banks.
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Peter Jones: EU fuelled Irish folly to kill the tiger
IRELANDshows that a small independent nation in the EU may have to play the tune its master gives it, writes Peter Jones
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Francois Hollande will push EU leaders on eurobonds
NEWLY-elected French president François Hollande will use Wednesday’s informal meeting of European Union leaders to outline proposals for eurobonds, in an effort to reassure financial markets on the outlook for the eurozone.
Consumers see modest fall in inflation as oil prices ease
HARD-PRESSED businesses and consumers are likely to get some respite this week when figures show inflation has fallen back from its recent highs – though other news on the economy remains grim.
Adam Posen to quit MPC as he admits QE hopes were optimistic
ADAM Posen looks set to briefly resume his mantle as arch-dove before leaving the Bank of England’s monetary policy committee this autumn.
Comment: When a jog turns into a sprint, it’s time to worry
THIS weekend, the leaders of the G8 industrial nations are in conclave at Camp David, President Obama’s wooded retreat some 70 miles from Washington.
Comment: Fresh pleas to stop bashing Britain’s bankers
WESTMINSTER got a reality check from City heavyweights yesterday on the likely extended wait for taxpayers to get their money back from the state-sponsored bailouts of Royal Bank of Scotland and Lloyds Banking Group.
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Eurozone crisis could widen UK trade deficit
Britain’s trade deficit could widen over the coming months as the eurozone crisis stifles demand for exports, economists warned yesterday.
City big guns warn it may take five years to clear bank bail-out
TOP City figures warned MPs yesterday it will take at least five years for taxpayers to break even on the £64 billion state bail-out of Royal Bank of Scotland and Lloyds Banking Group.
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Greek deadlock sends markets into fresh spin as default looms
FINANCIAL stocks suffered a new rout yesterday as the political deadlock in Greece prompted fears that it will leave the euro and default on its debts within weeks.
SE ramps up growth drive
SCOTTISH Enterprise (SE) chairman Crawford Gillies is to use a visit to a technology spin-out company tomorrow to kickstart his agency’s push to stimulate faster economic growth.
It pays to know your way round the investment map
FUNDS that spread your money across different types of assets are growing in popularity as investors seek shelter from unpredictable market conditions.
Manufacturing rising out of winter of slump
Britain’s manufacturing output bounced back strongly in March as it recovered from a winter slump.
Bank holds back on emergency cash
The Bank of England held off from pumping more emergency cash into the economy amid fears that inflation is not falling back as quickly as expected.
Euro slumps as Greek elections signal fears for bail-out package
BRITAIN’s stock market will reopen on a knife-edge today as investors get their first opportunity to respond to Sunday’s anti-austerity votes in France and Greece.
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Our love affair with DIY cools as economic pressures build
Hard-up Britons have slashed their spending on home improvement to a 15-year low as the slow housing market and squeeze on incomes cooled their passion for DIY.
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Why boredom at work is bad for your health
Downturn means a lighter workload for some, but damaging levels of tedium, finds Catherine Quinn
‘Fat cats’ face backlash over pay
Shareholders and pensioners are flexing their muscles to curb executive excess, writes Jeff Salway
Interest rates on hold as pressure grows to pump more cash into economy
BANK of England policy-makers face a knife-edge decision this week on whether to pump more cash into Britain’s ailing economy – though interest rates are certain to remain on hold.
Weir wobble on the cards as fracking demand slows in US
WEIR Group will come under intense scrutiny next week, with the prospect of a significant share price adjustment unless it can allay concerns about growth prospects in two key markets.
Comment: Shareholders flex muscles – and want action
THE board of Aviva must have thought that chief executive Andrew Moss had taken the sting out of a looming showdown with investors when he agreed to waive a near-5 per cent pay rise.
End of stamp duty concession leads to dip in UK house prices
HOUSE prices across the UK dipped again in April with declines in four out of the last five months, new figures from the Nationwide building society revealed today.
UK service sector growth eases but firms remain optimistic
Output from Britain’s crucial service sector grew more slowly than expected last month, figures today revealed, but firms’ optimism hit a two-year high.
Sir Mervyn King gets back to basics with Bank’s three Rs
SIR Mervyn King, the Governor of the Bank of England, last night described how the “three Rs” will serve to make banking and the economy safer.
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CBI says UK economy will return to growth this year
Britain’s economy is likely to resume growth in the summer with the recovery gaining pace next year, the CBI today forecast.
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Michael Fry: Isolated Angela Merkel now seeks a better answer
THE failure of the masterplan to save the eurozone may sound the death knell for German power, writes Michael Fry
5 commentsManufacturing hit by icy blast as exports decline
Fears that the recession may last longer than expected were heightened yesterday as Britain’s manufacturing sector felt an icy blast from the crisis-hit eurozone.
Standard & Poor slashes ratings on 11 Spanish banks
Ratings agency Standard & Poor’s yesterday downgraded the credit ratings of 11 Spanish banks, including Santander, as it was confirmed the country had fallen into its second recession in just over two years.
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Wolfgang Michalski: Hamburg is a model worth emulating
WITH an equivalent population and many shared attributes, Scotland would do well to heed the lessons of Hamburg’s long-standing prosperity, writes Wolfgang Michalski
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Beware of personal tastes being exposed to public view
LOGGING on to Facebook the other day, I spotted an unexpected status update from a male colleague whose music taste I would usually respect. Bizarrely, he was freely admitting his guilty pleasure of listening to tracks by peppy pop diva Katy Perry. But why did he feel he had to openly declare this shocking revelation?
Slowdown in US growth but car sales accelerate
Economic growth in the US cooled in the first quarter as businesses cut back on investment and restocked shelves at a moderate pace, but stronger demand for cars softened the blow.
Muted response to double-dip news
Traders and analysts yesterday shrugged off news that the UK economy had fallen back into recession amid signs of an upturn in manufacturing activity in recent weeks.
Record numbers of Scottish firms are going bust
Scottish companies are continuing to go bust in record numbers, according to official statistics published yesterday, as a “never-ending period of recession” takes its toll on the private sector.
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Weather for Edinburgh
Friday 25 May 2012
Today
Sunny spells
Temperature: 9 C to 21 C
Wind Speed: 14 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 9 C to 19 C
Wind Speed: 15 mph
Wind direction: North east
