Economy

01
Feb
Fall in eurozone inflation rate fuels deflation concerns

Calls for European Central Bank action to help protect the eurozone's fragile recovery have grown after the release of inflation and jobless data. Official figures showed that eurozone inflation fell to 0.7% in January, down from 0.8% in December and further below the ECB's 2% target. It has fuelled worries about whether the euro bloc could suffer deflation, potentially de-railing economic growth. Separate data showed the unemployment rate... [read news]

21
Jan
Free trade: EU halts investment talks with US

The European Commission has suspended talks on part of a far-reaching EU-US free trade deal amid concern that hard-won social protections in Europe might be undermined. The trade negotiations began last year but now the Commission has launched a three-month public consultation on the proposed investment rules for firms. The aim is to close legal loopholes. Consumer and environmental lobbyists say there is a risk of the EU accepting lower... [read news]

28
Dec
Retailers look for post-Christmas boost as sales begin

The traditional post-Christmas sales are expected to provide a boost to High Street retailers, as shoppers look for increasingly competitive discounts. Many large department stores and chains opened early on Boxing Day, while a number of online sales began on Christmas Eve. John Lewis said internet orders on Christmas Eve were up 13% on 2012 and Christmas Day sales up 19%. Analysts Experian said online sales were becoming more important... [read news]

16
Dec
Ireland PM Enda Kenny says the country's 'credibility' is restored

The Irish Republic's prime minister has marked the end of the country's bailout programme with a speech to the nation. In a televised address, Enda Kenny said Ireland's "good name and our credibility" had been restored. He warned that difficult economic decisions remained, with a new medium-term economic plan due to be set out this week. But he promised that never again would "Ireland's stability be threatened by speculation and... [read news]

13
Dec
House building lifts October construction output, ONS says

Output in the UK construction industry rose by 2.2% in October, fuelled by a big increase in house building, according to the Office for National Statistics (ONS). New housing rose 5.8% from the previous month, while repairs were also up, but other types of new work declined. The figures mark a sharp improvement from September, when construction output shrank by 0.5%. The latest figure means that output is up 5.3% on the year. The ONS... [read news]

12
Dec
Earnings rise slower than inflation for fifth year running

Average earnings in the UK have risen by less than the rate of inflation for the fifth year running, according to the Office for National Statistics (ONS). In the year ending April 2013, the ONS said pre-tax pay reached £27,000 a year, an increase of 2.1% over 2012. However, inflation over the same period, as measured by the Consumer Prices Index (CPI), was 2.4%. The figures show that workers continue to see a squeeze in their pay. In the... [read news]

11
Dec
Rent arrears fastest-growing problem, says charity

Rent arrears are becoming the fastest-growing debt problem in the UK, according to the Money Advice Trust charity. In the first nine months of this year, its telephone helpline received nearly 20,000 calls from people behind with their rent. That is a rise of nearly 13% on the same period in 2011. More than half the calls to the National Debtline service are now from people who are renting their home. A recent survey by LSL property services... [read news]

10
Dec
Australia and South Korea agree trade deal

Australia and South Korea have agreed on a free trade deal in an attempt to boost trade between the two countries. As part of the deal, tariffs on key Australian exports to South Korea such as agricultural products, energy and resources will be eliminated. It is also likely to help South Korean firms in sectors such as steel, textile and car manufacturing to boost their presence in Australia. Trade between the two nations was worth A$32bn... [read news]

09
Dec
China loosens grip on interest rates

China has taken another step in liberalising its financial sector by loosening its grip on interest rates. The central bank has said it will allow banks to trade deposits with each other from Monday, using a financial product called certificates of deposit. The interest rate on the certificates will be determined by the market, unlike ordinary deposits, which are subject to rate caps in China. The move is also likely to help improve cash... [read news]

08
Dec
Growth in job vacancies hits '15-year high'

The growth in job vacancies hit the fastest rate in 15 years in November, according to the latest survey from the body that represents recruitment firms. Its job vacancies index, which uses data from 400 recruitment firms, rose to the highest level since July 1998. The strongest demand was for engineers, followed by nursing staff and other medical and care workers. The report also showed that growth in salaries for permanent staff was the... [read news]


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