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Economic indicators

Economic indicators

Summer washout may cost Scottish economy million

THE summer washout is set to cost the Scottish economy tens of millions of pounds, experts claimed today as forecasters warned of more heavy rain and possible flooding this weekend.

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Bank of England tells high street giants to increase capital cushion

BRITAIN’S big banks received a stark warning yesterday that they must raise more money after failing to build up big enough cushions to help them survive another financial crisis.

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Confidence low as high street sales slip back

THE high street stayed sluggish last month, contrasting with more upbeat recent data from other parts of the economy, the British Retail Consortium (BRC) revealed yesterday.

Greek debt deal set to cost RBS £825 million

ROYAL BANK of Scotland is set to lose £825 million of taxpayers’ money in Greek debts, after major financial institutions holding the stricken eurozone country’s bonds agreed to take part in a debt relief programme.

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Market Watch: Pressure on Wetherspoon

PUB chain JD Wetherspoon is likely to reveal the effects of pressure from resurgent rivals and tax rises with an update on Friday.

Morrisons to focus on Kiddicare and corner stores

SUPERMARKET giant Morrisons will switch attention on to its fledgling Kiddicare business and pilot corner stores MLocal this week, as consumer pressures rein in profits growth at its main grocery business.

BILL JAMIESON: Banks must lend a hand with recovery

HERE is a simple but troubling question. It is one I put last week in a talk to the Chartered Institute of Bankers in Scotland, which has a direct bearing on prospects for the banks and has wider and more pressing relevance. It is a question now worrying a great many.

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Inflation rate falls to 4.8% after shop price wars

Supermarket price wars and the falling cost of petrol last month helped push inflation down further from its peak, official figures revealed today.

Scottish business losing its gloss as optimism plummets

OPTIMISM among Scottish businesses has collapsed in the past quarter, sending them to the bottom of the latest UK confidence table.

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Eurozone crisis: Cameron meets Sarkozy as Merkel calls for fiscal pact

David Cameron travelled to Paris today for talks with French president Nicolas Sarkozy amid desperate efforts by eurozone leaders to prevent the single currency breaking up.

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Warning to UK banks over possible eurozone collapse

Bank of England Governor Sir Mervyn King today urged banks to brace themselves for a potential eurozone collapse amid fears that Britain is caught in a second credit crunch.

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Alistair Darling says economic crisis is worse than 2008

FORMER chancellor Alistair Darling has said the current economic crisis is now worse than in 2008 when the government had to begin its rescue of RBS, HBOS and Northern Rock.

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David Cameron defends debt reduction strategy

DAVID Cameron admitted today that reducing Britain’s debts was proving “harder than anyone envisaged”.

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UK economy forecast: Eurozone crisis dampens Bank’s growth estimate

THE Bank of England warned today that the eurozone debt crisis is the “single biggest risk” to the UK recovery as it forecast a dramatically increased threat of a double-dip recession next year.

Supermarket price war helps reduce inflation slightly

An aggressive supermarket price war helped push down inflation last month amid signs that the rise in the cost of living appears to have passed its peak.

‘Mortgages for green homes’ bid

BANKS are being urged to help borrowers who want to invest in environmentally friendly properties.

Crunch time for Europe

The ECB faces mounting pressure to begin Quantitative Easing in a bid to prevent a two-speed Europe. Nathalie Thomas examines the consequences...

Interest rate held at 0.5% despite fears over economy

THE Bank of England resisted further emergency action today despite fears that the economy will go into reverse by the end of the year.

Greece crisis talks fail to decide on George Papandreou’s successor

GREECE’S critical power-sharing talks have hit a new hurdle, with political leaders leaving a top-level meeting without deciding on a new prime minister to take over from George Papandreou.

Markets plunge as Silvio Berlusconi keeps his grip on power

WORLD markets nose-dived as the deepening political and economic crisis in Italy prompted fears that the eurozone may be on the verge of collapse.

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