Bank of England Poised To Make Interest Rate Decision
July 31, 2007
The Bank of England are expected to announce their decision on interest rates later on this week, which affect the price of borrowing money on many mortgages and commercial loans.
The UK central bank, which has control over determining monetary policy in conjunction with the UK government, is expected to publicly announce its policy over the […]
US Stock Markets Bouncing Back
July 31, 2007
Stock markets in the US have today showed strong performance thus far, signifying an apparent recovery from the losses throughout the course of last week.
The strong performance over trading this morning and yesterday has been echoed around the world, with most of the world’s major stock exchanges posting positive trading results.
US stocks closed up on […]
India Increase Bank Reserves To Curb Inflation
July 31, 2007
The Indian Central Bank has today announced measures designed to curb inflation in one of the world’s fastest growing economies.
India has experienced exceptional economic growth over the last few years, prompting fears amongst analysts that inflation may continue to get out of hand and devalue the rupee.
The central bank has increased the cash reserve ration […]
Gasoline Prices Fall
July 30, 2007
The price of gasoline at US pumps has fallen to an average of $2.88, down a substantial 17 cents from earlier in the month, with increasing supply helping to curb the rising prices.
The figure is taken as a national average for self-service, unleaded petroleum at retail stations, and reflects an overall fall in the price […]
UK House Price Growth Stagnant
July 30, 2007
United Kingdom house prices barely rose over the last month, reflecting the impact of higher interest rates on the UK economy.
House prices throughout the United Kingdom rose by just 0.1% over the course of July, taking the year average growth rate to 9.9% from 11.1% as at last month.
After several years of stable economic growth […]
Worldwide Stock Markets Recovers After US Drop
July 30, 2007
Last week’s Wall Street downturn appears not to have affected worldwide stocks too badly, after markets across Europe and Asia performed with mixed results.
Wall Street saw the value of shares dramatically fall last week after ongoing controversy in the sub-prime lending market, and less than inspiring announcements from Federal Reserve Chairman Ben Bernanke. Experts predicted […]
Stock Markets Struggling Continues
July 28, 2007
Concerns spread over the chance of lower consumer spending due to possible higher rates that will hit takeover deals and corporate profits.
European markets were also hitting new lows, London’s share index closed down for another day, at its lowest level since mid march.
It has been warned that market values could stay volatile over the coming […]
Oil In Crisis Just One Cent Shy Of All Time Record
July 28, 2007
Oil prices have climbed to a fraction off the record high today, leading to further speculation as to the future of oil production.
The price of oil in New York closed today a mere cent off its all time high at $77.02 a barrel, reflecting a significant increase in the cost of energy.
This could ultimately drive […]
US Growth Above Expectations
July 27, 2007
The USA has experienced sharper growth over the last quarter than analysts predictions, figures today have shown.
The figures released today show growth of around 0.2 percentage points beyond analyst projections, highlighting a rare good day for the immediate future of the US economy.
The statistics reflected a surprising increase in growth over the last three months […]
US Price Spikes Not As Bad As Analysts Forecast
July 27, 2007
Wall Street’s worry has begun to subside on the back of Federal Reserve Chairman Ben Bernanke’s speech to the National Bureau of Economic Research.
Bernanke’s comments came on the back of a day of sliding trades on the Dow Jones, and other world stock markets, relating primarily to the future of US inflation.
“Swings in volatile energy […]
Exploitation Rife As Water Shortages Plague Flood Victims
July 27, 2007
Allegations of traders cashing in on the widespread flooding throughout England have emerged today.
A number of vans were said to have opened selling vital good such as bottled water and bread for several times their market value, in a bid to exploit those desperate for the most basic of supplies.
After power shortages and dwindling fresh […]
Worldwide Stock Markets Plummet
July 26, 2007
Stock markets around the world have closed significantly down over the course of business today.
Market confidence plummeted with increasing interest rates worldwide, and the effect of interest rate rises on global company performance.
High consumer spending over the last few months have led to impressive trading on the world’s stock markets.
However, concerns as to the health […]
IMF Announces Increased Global Economic Growth
July 26, 2007
The International Monetary Fund’s (IMF) forecast for the growth of the global economy for the year has been raised.
The IMF predicted a 4.9% global growth rate in April but has now revised this figure to 5.2% for both this year and the year to follow, based on the impact of several rapidly expanding economies worldwide.
Central […]
US Mortgage Applications Fall
July 26, 2007
The number of mortgage applications in the US fell last month, according to figures released by the Mortgage Bankers Association.
The Mortgage Bankers Association applications index fell to 609.0, hitting a five-month low figure on the number of new applications for home buying mortgages.
The calculation, which takes into account seasonal variation, reflects the number of mortgage […]
OPEC Officially Announce $60 Oil Target
July 25, 2007
In what has been a remarkably good week for oil prices and the future of the world economy, OPEC have officially announced a $60 target price for crude oil.
The announcement came within a Kuwaiti national oil report, which quoted OPEC’s research division as supporting a $60 price.
The $60 mark was said to be a ‘fair […]
Zimbabwe Economy Crisis Price Control Measures
July 25, 2007
Zimbabwean President Robert Mugabe has vowed to continue his policy of price control in an attempt to turn around the faltering economy.
The Zimbabwe economy is plunging further into crisis, dramatically affecting the everyday lives of the Zimbabwean people.
The former African model economy is currently suffering from inflation of just under 5,000%, and is experiencing some […]
Insurers Count The Rising Costs Of UK Flooding
July 24, 2007
The widespread flooding throughout England over the last months looks set to amount to over £2 billion in insurance claims.
The figures released today by the Association of British Insurers show that the devastating flooding over the course of the British summer could lead to a record figure of insurance claims, with tens of thousands of […]
Iran Fuels Talk Of Oil Supply Increase
July 24, 2007
Oil prices have again fallen by over $1 thanks to suggestions by Iran that they may be on the verge of increasing supply.
The drop in price marks the second consecutive day in which oil prices have fallen, after positive comments towards supply increases from both OPEC and Iran.
The news comes off the back of yesterday’s […]
Italy Increase Age Of Retirement
July 23, 2007
The Italian government have announced their latest measure in reversing the pension controversy, and attempting to overturn the national debt crisis.
Italy’s budget deficit has attracted attention from EU authorities, falling way short of Europe-wide targets. And with Europe’s oldest population, the welfare burden looks set to plunge their dire finances further into the red in […]
Fair Minimum Wage Act 2007 Rolls Out Tomorrow
July 23, 2007
The first federal minimum wage increase in a decade comes into force tomorrow.
The Fair Minimum Wage Act will create a legally minimum hourly rate across 18 states in which the wage rate has remained at the previous federal minimum.
The news has been celebrated by the liberal camp, with the promise of what has been called […]