Thursday May 15, 03:45 PM
THOMSON FINANCIAL NEWS TOP STORIES Macroeconomics 15:30 BST
2008-05-15 15:22:19
Africa's economic growth will be sustained by high commodity prices - S&P
MUMBAI (Thomson Financial) - Standard (SNDH.PK - news) and Poor's Ratings Services said in a
report that high commodity prices, coupled with the long-term benefits derived
from progress made towards economic stability and structural reforms, will
sustain sub-Saharan Africa's economic growth in the foreseeable future despite
the slowdown of the world economy.
2008-05-15 15:09:40
ECB's Papademos says euro has become important pole of stability
BRUSSELS (Thomson Financial) - European Central Bank vice-president Lucas
Papademos said the euro 'has become an important pole of stability' in the world
economy.
2008-05-15 15:06:27
US Philly Fed May manufacturing index rises to -15.6 vs -20.0 expected
WASHINGTON (Thomson Financial) - Manufacturing in the mid-Atlantic region
improved slightly but remained in negative territory in May, the Federal Reserve
Bank of Philadelphia reported today.
2008-05-15 14:56:22
Rail, Air France (Paris: FR0000031122 - news) unions call for May 22 strike to protest pensions reform
PARIS (Thomson Financial) - French rail unions have joined their
counterparts at Air France in calling for a strike on May 22 as part of a
protest against government plans for pensions reform, Agence France-Presse
reported, citing union sources.
2008-05-15 14:47:47
IMF's Strauss-Kahn says euro zone inflation expectations are low
BRUSSELS (Thomson Financial) - IMF managing director Dominique Strauss-Kahn
said inflation expectations are 'generally rather low' in the euro zone.
2008-05-15 14:39:32
Bernanke: Banks need to bolster risk-management
WASHINGTON (AP) - Commercial banks and other financial institutions need to
beef up their ability to detect and protect themselves against risks like the
credit and mortgage debacles, Federal Reserve Chairman Ben Bernanke said
Thursday.
2008-05-15 14:31:17
Industrial output plunges, second big drop in 2 months
WASHINGTON (AP) - The nation's industrial output plunged in April,
reflecting big cutbacks in autos and other manufacturing industries.
2008-05-15 14:31:16
Bernanke 'encouraged' by financial firms capital raising, urges more
WASHINGTON (Thomson Financial) - Among the many lessons from the credit
markets crisis is the importance of substantial capital cushions for financial
firms, Federal Reserve Board Chairman Ben Bernanke said today, and he told banks
and investment companies to pursue new capital to help markets and the economy
to revive.
2008-05-15 14:28:18
Portugal govt cuts 2008 GDP growth forecast to 1.5 pct vs 2.2 pct
LISBON (Thomson Financial) - The Portuguese government has revised downwards
its forecast of growth of gross domestic product (GDP) for 2008 to 1.5 percent
from 2.2 percent, Finance Minister Fernando Teixeira dos Santos said at a press
conference Thursday.
2008-05-15 14:22:10
US April industrial production falls 0.7 pct, capacity utilization 79.7 pct
WASHINGTON (Thomson Financial) - US industrial production fell faster than
expected in April, led by reduced manufacturing of autos, business equipment and
construction supplies.
2008-05-15 14:17:33
ECB says euro zone house price growth moderated further in H2 2007
FRANKFURT (Thomson Financial) - The European Central Bank said euro zone
house price growth continued to moderate slightly in the second half of last
year.
2008-05-15 14:05:49
U.S. March net foreign securities purchases -48.2 bln usd
WASHINGTON (Thomson Financial) - Foreign investors were net sellers of U.S.
securities in March, leaving total net foreign securities at its lowest level
since the summer, the Treasury Department reported.
2008-05-15 14:01:04
Polish budget surplus confirmed at 601 million zlotys at end-April
WARSAW (Thomson Financial) - Poland's budget had a 601 million zloty
cumulative surplus at the end of April, the finance ministry said, confirming
initial figures from last week and showing the strong performance of public
finances continuing this year.
2008-05-15 13:58:39
Jobless claims up in sign of further weakness
WASHINGTON (AP) - The number of newly laid off workers applying for
unemployment benefits rose slightly last week, indicating the weak economy was
still weighing on the job market.
2008-05-15 13:38:23
US May Empire State Manufacturing Index falls to -3.23 vs no change expected
WASHINGTON (Thomson Financial) - New York region manufacturers said their
overall business conditions deteriorated slightly in May, but their shipments
were off sharply and their costs hit a new record high.
2008-05-15 13:32:42
US weekly jobless claims up 6,000 to 371,000; continuing claims highest in 4 yrs
WASHINGTON (Thomson Financial) - The number of individuals filing new claims
for unemployment insurance rose slightly in the latest week, pushing the number
of still out-of-work people continuing to receive government benefits to the
highest level in more than four years, the Labor Department said today.
2008-05-15 12:27:12
Eurogroup's Juncker says inflation hitting competitiveness in some states
BRUSSELS (Thomson Financial) - Eurogroup president Jean-Claude Juncker said
high inflation in the euro zone is causing problems with competitiveness in some
member states.
2008-05-15 12:23:18
IMF chief says worst of financial crisis is over
BRUSSELS (Thomson Financial) - The worst of the financial sector crisis is
over although the impact on the broader economy will likely drag on in coming
months, IMF managing director Dominique Strauss-Kahn said on Thursday.
2008-05-15 12:02:23
UK interbank lending rates climb as markets scale back rate cut expectations
LONDON (Thomson Financial) - The key rate at which banks lend to each other
rose across all maturities, as markets scaled back their expectations for when
the Bank of England will cut interest rates following yesterday's gloomy
Inflation Report.
2008-05-15 11:52:31
England Q1 housing starts down 24 percent year-on-year - govt
LONDON (Thomson Financial) - The number of homes built in England fell by 24
percent in the first quarter of the year, reflecting a drop-off in demand for
property as fears grow of a major fall in house prices.
2008-05-15 11:37:05
Malaysia foreign currency debt rating outlook cut to stable - S&P
MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services cut its
outlook on the foreign currency sovereign credit rating on Malaysia to stable
from positive, citing uncertainty brought about by the 'drastic change in the
overall political landscape after the recent general elections'.
2008-05-15 11:35:12
Pakistan's long-term foreign currency debt rating cut to 'B' - S&P
MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services cut its
long-term foreign currency debt rating on the Islamic Republic of Pakistan to
'B' from 'B+' and its long-term local currency rating to 'BB' from 'BB', citing
rising pressures on the sovereign's credit fundamentals from the combination of
expanding fiscal and external imbalances, against a volatile and uncertain
political setting.
2008-05-15 11:24:42
Eurogroup's Juncker says euro zone growth 'not sufficiently robust'
BRUSSELS (Thomson Financial) - Eurogroup president Jean-Claude Juncker said
economic and monetary union, for all its successes, has not yet resulted in
sufficiently robust growth.
2008-05-15 11:21:04
Ahead of the Bell (BELN.SW - news) : No growth expected in surveys
WASHINGTON (AP) - The New York and Philadelphia Federal Reserve banks are
expected to report Thursday that business activity in their manufacturing
sectors was flat or declined this month.
2008-05-15 11:21:01
Ahead of the Bell: Unemployment Benefits
WASHINGTON (AP) - Government data due out Thursday is expected to show that
initial claims filed for unemployment benefits rose slightly last week after
falling in the prior period.
2008-05-15 11:18:04
England first-quarter housing starts down 24 percent year-on-year - government
LONDON (Thomson Financial) - The number of homes built in England fell by 24
percent in the first quarter of the year, reflecting a drop-off in demand for
property as fears grow of a major fall in house prices.
2008-05-15 11:00:03
Ifo/ICC euro zone climate indicator drops to lowest level for 5 years
PARIS (Thomson Financial) - The German Ifo institute and the International
Chamber of Commerce said their euro zone economic climate indicator fell to its
lowest level for five years in the second quarter.
2008-05-15 10:37:44
European bonds slump after strong euro zone GDP, inflation data
LONDON (Thomson Financial) - European government bonds came under pressure
following strong euro zone GDP growth and inflation data, which kept in place
market expectations that the European Central Bank will not be cutting interest
rates any time soon.
2008-05-15 10:35:57
Germany's Glos says GDP data suggests economy defies tough global conditions
FRANKFURT (Thomson Financial) - German economy minister Michael Glos said
that Thursday's preliminary data on Germany's GDP growth suggests that the
country's economy defies the difficult conditions in the world economy.
2008-05-15 10:33:46
Germany's Glos sayd GDP data suggests economy defies difficult global conditions
FRANKFURT (Thomson Financial) - German economy minister Michael Glos said
that Thursday's preliminary data on Germany's GDP growth suggests that the
country's economy defies the difficult conditions in the world economy.
2008-05-15 10:19:57
BoE 13.8 bln pound weekly money market auction receives 78.3 bln pounds of bids
LONDON (Thomson Financial) - The Bank (TBHS - news) of England's weekly money market
auction of 13.8 bln pounds was heavily subscribed with bids totalling 78.3 bln
pounds.
2008-05-15 10:16:32
Portugal Q1 preliminary GDP down 0.2 percent vs Q4, up 0.9 percent year-on-year
LISBON (Thomson Financial) - Portugal's GDP was down 0.2 percent in the
first quarter of this year from the fourth quarter of 2007, but up 0.9 percent
from a year earlier, according to preliminary statistics from the INE statistics
institute.
2008-05-15 10:15:44
Greek Q1 GDP growth up 3.6 pct yr-on-yr on robust demand, exports
ATHENS (Thomson Financial) - Greek 2008 first quarter GDP grew 3.6 percent
year-on-year on a 1.6 percent increase in total demand as well as rising
exports, said the National Statistical Service of Greece (NSS).
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
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