In a bit of good news, it has been reported that the employment rate in United Kingdom has risen considerably following the months of the Olympics season in London. In fact, industry experts have estimated a dip of about 8.2 per cent in unemployment rates, the best since the last four years, i.e. the year 2008. London and United Kingdom are places which have been worse affected by the recession.
Jens Weidmann, the chief of the German Central Bank is presently engaged in a progressively intense and high stakes fight involving the response of the ECB policy towards the ongoing crisis in the euro zone with Mario Draghi, the President of the European Central Bank. The struggle began on Thursday after Draghi implied that the European Central Bank could once more intercede in debt markets so that the crippling debt costs troubling Italy and Spain could be diminished.
Unemployment in eurozone is the highest since the euro was born. It is another sign of the tragic economic situation in Europe. The highest rate of unemployment in 17 countries of eurozone added some pressure on European Central Bank to take an action. But even Draghi’s promises cannot have an immediate result on economic situation of eurozone members.
In response to the pleas made by the Italian and the Spanish leaders for quite some time now, the leaders of the Euro Zone have agreed on taking an emergency action at a midnight summit on Friday. The summit included the currency areas of seventeen different nations and they have decided upon bringing down the spiraling borrowing costs of both Spain and Italy. They have decided that by the end of the year 2012 the first step to the union of European Banking will be taken up developing a single supervisory body for all the banks belonging to the euro zone.
The annual growth rate for the first quarter is 8.1 percent, the slowest in three years for China. Considering the slack and downturn in Chinese Manufacturing market raising all the fears of a worse than expected setback, the Chinese government has revised the economic growth target to just 7.5 percent, downgrading itself from its 9.2 percent growth last year and 10.4 percent growth in 2010.
Once upon a time, Spanish Banks, on account of its meticulous banking practices, were credited as one of the most reliable pillars of the Western Economies to withhold the pressure of global liquidity crisis. There was a time when high capital provisions, tough scrutiny and higher securities for lending were a mandate. But then, that was in history. Today, Spanish banking crisis is one of the most tumultuous issue to the Eurozone.
The economic problems of Spain were put in strong relief after figures showed that unemployment is near 25 percent Friday.The figures showed that unemployment has spiked to 24.4 percent in the first quarter of 2012. Now people are afraid that France, the second-biggest eurozone economy, also could face a downgrade from S&P after the presidential elections.
Even as the economic depiction in the United States has brightened up recently with more positive employment figures, Europe remains held up in a slump. Most economists are estimating a recession for 2012, which will heighten the pressure faced by governments and financial institutions across the Continent.
It is the final week for stock market in 2011 and analysts are expecting a quiet time in the market. Most market players, traders and investor took time off and extended their Christmas weekend to a lazy Monday. The stock markets were closed on Monday and will resume trading from today on a normal schedule. […]
Even though two-thirds of chief executive officers said that their companies will either be cutting staff, or won’t be hiring in 2012, one-third are job hiring companies that expected to add employees and create New jobs in the next six months. Let’s take a look at hiring trends among industry leaders as the new year arrives in a few short weeks.
The European Union summit failed, in its last chance, to convince global markets on the euro crisis. Exultation of the market to hold the euro currency up undermined to a gloomy mood over last week. Fitch Ratings Agency along with Moody’s Investor Services warned the European credit to face low ratings pushing the Asian stock […]
The European Union came to deal Thursday night; hopefully one that will prevent a European and a global financial meltdown. This deal offers temporary respite for the currency and the European economy, but how long will this respite last? Once again, we take the time to answer a few of the big questions surrounding the Eurozone Crisis and what this new deal means for industry leaders and the global economy.
As the Eurozone crisis rages on, an industry that’s been affected by it, although it hasn’t been in the news, is the shipbuilding industry. Primarily centered in Asia, the shipbuilding industry is seeing changes in competition and in revenue sources as it continues to deal with the turmoil a continent away.
With financial turmoil creeping in the country and the borrowing rate of Italy towering above 7 percent, many small European countries are forced to hunt for help. The eurozone finance ministers are considering a financial aid package for the country. 17 ministers of the eurozone have quickly managed to raise adequate money in order to build confidence among the world markets that their currency won’t give up.
Due to weak economic growth projections in the United States, slumping manufacturing activity in China, and continuing instability in Europe, oil prices dropped yesterday to under $97 a barrel. Crude oil prices are falling despite stronger demand from the U.S and China and a decrease in oil supplies in the U.S. Prices at the Pump […]
Gold bullion prices are in major limbo right now as global economies sit on unstable grounds and more entities are trying to jump into the gold bullion market. As a whole, the demand for gold and gold bullion prices are projected to hold up and to do better than at the start of 2011.
Hotels in Europe are doing well in spite of the ongoing Eurozone Crisis, according to the latest numbers from the European hospitality industry. Although the Eurozone Crisis has made it hard for the expansion of hotels in Europe, the hotels in Europe that currently exist are meeting the numbers they had at this time in 2010.
France is beginning to feel the pressure as its borrowing costs rose this week. On top of that, France and Germany, the two largest economies in the Euro Zone are clashing on a solution, particularly on how the European Central Bank is going to help. France insists that the ECB needs to play a stronger role in ensuring the stability of the euro and in helping to fix the debts that have started this crisis in the first place. Germany doesn’t want the ECB’s involvement in the Eurozone debt crisis
MF Global, a now-bankrupt brokerage firm has roots that go back more than two centuries to a London trading firm. Unlike other brokerage firms, MF Global is not in the business which revolves around buying and selling of stocks or into selling of European bonds. MF Global has been in the market for a long time and it primarily focused on assisting investors on placing bets on where stocks or bonds or commodity prices are headed by selling so-called futures contracts.