Economic News

White House expects jobless rate to climb - Reuters - Thu 02 Jul, 06:09 PM
WASHINGTON (Reuters) - The U.S. economy will continue to shed jobs for months to come but there are signs the economic stimulus plan is working, the White House said on Thursday.

U.S. job losses spike in June - Reuters - Thu 02 Jul, 05:34 PM
WASHINGTON (Reuters) - U.S. employers cut far more jobs than expected last month and the unemployment rate hit 9.5 percent, the highest in nearly 26 years, underscoring the likelihood of a long, slow recovery from recession.

White paper targets credit card firms - ShareCast - Thu 02 Jul, 02:17 PM
The government has unveiled plans to ban credit card companies from raising borrowing limits or sending out cheques without their customers' consent in a bid to prevent people running up debt.

Euro zone May jobless hits 10-year high of 9.5 pct - Reuters - Thu 02 Jul, 01:34 PM
BRUSSELS (Reuters) - Euro zone unemployment hit its highest level in 10 years in May, data showed on Thursday, bolstering market expectations the European Central Bank will leave interest rates at record lows for now.

Credit conditions getting better - ShareCast - Thu 02 Jul, 01:10 PM
It appears that credit conditions in the UK are starting to improve, with lenders increasing "slightly" the availability of secured credit to households in the second quarter.

U.S. jobless claims fell 16,000 in latest week - Reuters - Thu 02 Jul, 12:45 PM
WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits fell by 16,000 last week, and the number staying on the rolls after collecting an initial week of aid also fell, the government said in a report on Thursday.

U.S. June payrolls fell 467,000 in June - Reuters - Thu 02 Jul, 12:43 PM
WASHINGTON (Reuters) - U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labour market continuing to struggle with a deep recession.

Hiccup in construction recovery - ShareCast - Thu 02 Jul, 12:04 PM
Conditions in the downtrodden construction sector worsened in June, suggesting any recovery will be a volatile affair.

Pound falls broadly; Bank's Besley comments weigh - Reuters - Thu 02 Jul, 11:10 AM
LONDON (Reuters) - Sterling fell across the board on Thursday, hitting a three-week low against the euro, dented by dovish comments from a Bank of England policymaker and ongoing concerns about the UK economy.

Home Retail sees off investor rebellion 10:05 AM [ Reuters]
Too soon to tell when to unwind QE - BoE 08:35 AM [ Reuters]
China to encourage foreign IPOs 05:56 AM [ Reuters]
U.S. jobs data signals hurdles amid factory glimmer 08:57 PM [ Reuters]
U.S. jobs gloom overshadows manufacturing glimmers 03:48 PM [ Reuters]

Crabtree & Evelyn unit in U.S. files for bankruptcy 12:28 PM [ Reuters]
Factory PMI hits 13-month high 12:26 PM [ Reuters]
Further slowdown in manufacturing slump 10:37 AM [ ShareCast]
Services output posts smallest fall in 6 mths in April 08:32 AM [ Reuters]
LandSecs sells block to Libya firm 07:57 AM [ Reuters]

LandSecs sells London block to Libya firm 07:48 AM [ Reuters]
Retail property market shows recovery 11:07 PM [ Reuters]
Low pound aided recovery with exports 09:16 PM [ Reuters]
Gloomy U.S. consumers clip housing recovery hopes 05:05 PM [ Reuters]
FTSE index to regain some ground in year ahead -poll 03:27 PM [ Reuters]

Soros predicts "stop-go" economy 01:05 PM [ Reuters]
SFO freezes $100m of Stanford's assets 01:05 PM [ ShareCast]
Irish GDP slide eases in Q1 12:34 PM [ Reuters]
GDP falls more than expected 11:41 AM [ ShareCast]
INSTANT VIEW - Irish GDP contraction eases in Q1 vs Q4 11:05 AM [ Reuters]

Irish Q1 GDP plunges 8.5 percent vs year ago 10:55 AM [ Reuters]
Byrne says GDP fall won't affect recovery 10:55 AM [ Reuters]
INSTANT VIEW - GDP posts biggest fall in 50 years 10:55 AM [ Reuters]
House prices rise for third month in four 08:37 AM [ ShareCast]
GDP posts biggest fall in 50 years 08:36 AM [ Reuters]

HMV profit up, confident on prospects 06:36 AM [ Reuters]
Madoff expected to get "life" sentence 05:06 PM [ ShareCast]
Royal Mail stake sale delayed 04:44 PM [ ShareCast]
Euro zone sentiment, stocks up on recovery hopes 04:40 PM [ Reuters]
Putin tells banks to lend more as bad loans rise 04:38 PM [ Reuters]

IEA lowers oil demand forecast 03:42 PM [ ShareCast]
Mandelson to back FSA over Bank 03:04 PM [ ShareCast]
OECD calls on UK to do more 02:39 PM [ ShareCast]
Mortgage approvals hit 13-month best 11:51 AM [ ShareCast]
U.S. data shows promise 10:27 PM [ Reuters]

U.S. consumer spending and income rise 06:34 PM [ Reuters]
U.S. spending and income rise 03:41 PM [ Reuters]
German inflation makes surprise return 03:41 PM [ Reuters]
House price slide slows 01:21 PM [ ShareCast]
Darling to unveil new Banking Act 08:53 AM [ ShareCast]

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