Economy

07
Dec
Estonia's dirty energy drive for self-sufficiency

The drive from Tallinn to Auvere in North-Eastern Estonia was long and dark. The winter sun had yet to rise and we saw little of the outside world from our misty car windows. But as we arrived at Narva, Estonia's border with Russia, a picture began to form of the economic strength of this region. In front of us, swaths of land were being bitten into and scooped up by colossal Soviet diggers. That's because underneath this grey-brown land... [read news]

06
Dec
Autumn Statement: UK growth 'hides disappointing news'

Higher UK growth forecasts "hide some more disappointing news for the chancellor", warns the Institute for Fiscal Studies (IFS). It says the increased growth is just a result of growth coming a bit sooner than had been expected. The think-tank warns things like free school meals are unfunded after 2015. It says the pace of cuts in public service spending will accelerate from 2.3% a year between 2011 and March 2016 to 3.7% a year until early... [read news]

05
Dec
Autumn Statement: George Osborne says austerity plan is working

George Osborne has said the UK is growing faster than any other major economy thanks to his policies, but the job of recovery was "not yet done". Delivering his Autumn Statement, the chancellor said Britain was set to be back in the black by 2018/19. But money was still tight and millions would have to wait longer before they got a state pension. He said his plan was "working", but Labour said he was "in denial" about the "cost of living... [read news]

03
Dec
UK construction growth fastest since August 2007

UK construction picked up speed in November with output rising at the fastest pace in more than six years. The Markit purchasing managers' index (PMI) for the sector rose to 62.6 last month, up from 59.4 in October. The higher the reading above 50, the stronger the growth in activity. The reading comes a day after a related survey showed manufacturing output also strengthening, giving the chancellor a positive background against which to... [read news]

02
Dec
New Blackberry boss John Chen insists firm is 'alive'

Blackberry's new boss John Chen insisted on Monday the troubled smartphone maker is still 'alive'. In a letter to customers, he said that the company's "for sale" sign has been taken down and "we are here to stay." He also asked customers to remain patient as he tries to reposition the firm as more than a phone maker. BlackBerry, which was briefly for sale over the summer, recently announced massive layoffs amid slumping sales. Demise... [read news]

01
Dec
High Street needs post-war scale rebuilding says report

Rejuvenating town centres requires radical action on a scale not seen since the building programmes of post-war Britain, according to a new report. The Distressed Town Centre Property Taskforce says structural changes needed in retail are so fundamental, many towns and cities need reshaping. The taskforce was set up following Mary Portas's review of the High Street. The report calls on the government to designate town and city centres as... [read news]

30
Nov
France 'more pessimistic' on economy as confidence dips

France is "more pessimistic" about the state of its economy than fellow eurozone countries, a European Commission survey has found. French consumer confidence declined sharply in November, reflecting "worsening expectations about the future general economic situation, unemployment expectations and savings over the next 12 months", it said. France's Economic Sentiment Indicator (ESI) score fell 0.9 points to 95.2. But eurozone sentiment... [read news]

25
Nov
Not wanted: 100,000 Medicaid enrollees

States don't want them, but they have to take them. More than 100,000 people were approved for Medicaid last month in the 25 states that have opted not to expand the government program, according to a CNNMoney analysis. These folks currently qualified for Medicaid, but had not enrolled. Likely drawn in by all the campaigns to enroll the uninsured, the so-called woodwork effect, they applied through the federal Obamacare exchange. "They... [read news]

24
Nov
French woes hurt Europe's tepid recovery

A deepening slowdown in France has rekindled fears that Europe's second-largest economy could slip back into recession. Data out Thursday also revealed the country is acting as a brake on the region's already frail recovery. This month's preliminary reading of sentiment among purchasing managers revealed a sharper slowdown in France than economists were expecting. Manufacturing activity fell to a six-month low of 47.8 in November, down... [read news]

22
Nov
German business confidence improves as growth continues

German business confidence improved in November, a survey has indicated, amid rising optimism about the economy. The closely-watched Ifo survey of business confidence revealed an above-expected rise in November, reaching its highest level since April 2012. The index, based on a survey of 7,000 firms, rose to 109.3, compared with 107.4 in October. The news comes as official figures confirmed that the German economy grew by 0.3% in the third... [read news]


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