Economic News

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  • ECB, EU warn that "remarkable" Irish fiscal progress slowing Reuters - UK Focus - Fri, Dec 2, 2016 17:55 GMT

    DUBLIN, Dec (Shanghai: 600875.SS - news) 2 (Reuters) - Ireland (Other OTC: IRLD - news) 's "remarkable" progress in fixing its public finances slowed this year and budget plans for 2017 that exhausted all available tax revenue leave it vulnerable to shocks, the European Commission and European Central Bank said on Friday. …

  • US jobs growth makes rate rise in December more likely Sky News - Fri, Dec 2, 2016 16:53 GMT
    US jobs growth makes rate rise in December more likely

    The prospect of an interest rate hike in the world’s biggest economy has taken a step closer after official figures showed the number of US jobs grew by 178,000 last month. Rate-setters at the US Federal Reserve are likely to see the data as confirmation of a strengthening economy as they prepare for their next meeting …

  • Irish tax take rises to put deficit target in sight Reuters - UK Focus - Fri, Dec 2, 2016 16:30 GMT

    DUBLIN, Dec (Shanghai: 600875.SS - news) 2 (Reuters) - Ireland (Other OTC: IRLD - news) collected 1.8 percent more tax than expected in the year to November, the Finance Ministry said on Friday, putting it closer to the target of cutting its budget deficit below one percent of GDP while funding extra spending. Ireland …

  • US unemployment rate hits nine-year low in November International Business Times - Fri, Dec 2, 2016 14:12 GMT
    US unemployment rate hits nine-year low in November

    The US economy added slightly less jobs than expected last month, but the unemployment rate hit a nine-year low, official figures released on Friday (2 December) showed. According to the US government, the world's largest economy created 178,000 jobs in November, slightly below 180,000 analysts expected, while October's …

  • The unemployment rate matched the lowest level since August 2007.

  • MORNING BID EUROPE-Hollande bows out of crowded race Reuters - UK Focus - Fri, Dec 2, 2016 08:53 GMT

    LONDON, Dec (Shanghai: 600875.SS - news) 2 (Reuters) - By nature an incorrigible optimist, Francois Hollande finally got real last night and gave up on a second term. All eyes will now turn to his Prime Minister Manuel Valls, who could announce his decision to run for Socialist ticket as early as Saturday (Shenzhen: …

  • Top 1.5% of earners to pay an additional £20bn in income tax by 2021, OBR says International Business Times - Fri, Dec 2, 2016 05:31 GMT
    Top 1.5% of earners to pay an additional £20bn in income tax by 2021, OBR says

    The top 1.5 % of earners in the UK will pay about half of the additional income tax collected by the government, a record high of £20bn ($25.21), over the next five years. According to the latest analysis by the Office for Budget Responsibility, about 470,000 people who earn over £150,000 a year will contribute to the …

  • Tax office cuts could lead to another customer service collapse, MPs warn

    Plans to save money at HM Revenue & Customs by moving more of its activities online risk a repeat of the "catastrophic collapse" in customer service caused by job cuts last year, a parliamentary report has warned.

  • Britain's FTSE slips as higher costs hit consumer goods firms Reuters - UK Focus - Thu, Dec 1, 2016 17:47 GMT

    Britain's top equity index slid on Thursday, pulled down by more evidence of the weak pound damaging consumer goods companies and by some stocks trading without rights to their latest dividend payouts. ...

  • UK factory growth cools as weak pound fuels cost pressures - PMI Reuters - UK Focus - Thu, Dec 1, 2016 12:40 GMT

    LONDON, Dec (Shanghai: 600875.SS - news) 1 (Reuters) - British manufacturing growth cooled unexpectedly in November as factories grappled with soaring costs caused by sterling's slump after June's Brexit vote, even before this week's jump in oil prices. Thursday's Markit (NasdaqGS: MRKT - news) /CIPS UK Manufacturing …

  • Net migration from EU to Britain hit record high ahead of EU vote Reuters - UK Focus - Thu, Dec 1, 2016 11:14 GMT

    LONDON, Dec (Shanghai: 600875.SS - news) 1 (Reuters) - Net (LSE: 0LN0.L - news) migration from the European Union to Britain hit a record high in the 12 months running up to June's referendum vote to leave the bloc, in which concerns about immigration motivated many Brexit voters. The ruling Conservatives had promised …

  • Once again, data upholds India's ranking as the world's fastest-growing economy. But the South Asian giant can't retain that title for long.

  • Pension funding deficits 'nearly a third of UK GDP' PA Money News - Thu, Dec 1, 2016 00:01 GMT
    Pension funding deficits 'nearly a third of UK GDP'

    Britain's mammoth funding gap for gold-plated company pensions stands at nearly a third of the country's economic output despite a £50 billion boost in November.

  • Stocks lift off into December with a tailwind and a bit more optimism about the economy.

  • CNBC took a look at the economic records of the presidents since Jimmy Carter to assess President Obama's performance.

  • Transcript of the exclusive CNBC interview of Steven Mnuchin and Wilbur Ross, selected by Donald Trump for Treasury and Commerce secretaries.

  • Cramer says "These two guys are basically saying, listen, we have a traditional Republican agenda — bring money back."

  • Banks struggle as BoE warns on 'elevated' risk to financial system

    Three of Britain's biggest lenders have struggled in a key test of how they would cope in a future financial crisis, as the Bank of England warned of "elevated" risks after the Brexit vote. State-backed Royal Bank of Scotland (LSE: RBS.L - news) must bolster its balance sheet by £2bn after failing the test. Regular …

  • India's economy grows 7.3% in second quarter AFP - Wed, Nov 30, 2016 14:40 GMT
    India's economy grows 7.3% in second quarter

    India's gross domestic product expanded 7.3 percent year-on-year in the three months to the end of September

  • Dallas Fed President Robert Kaplan says future rate hikes will depend on Trump's policies, the dollar and the GDP.

  • China, euro zone sovereign debt and Brexit top the escalating list of concerns for the Bank of England, according to a report published on Wednesday.

  • Trump Treasury pick Steve Mnuchin tells CNBC the majority of the tax cuts will serve middle-income individuals.

  • State-backed RBS fails Bank of England stress test Sky News - Wed, Nov 30, 2016 08:54 GMT
    Banks struggle as BoE warns on 'elevated' risk to financial system

    Three of Britain's biggest lenders have struggled in a key test of how they would cope in a future financial crisis as the Bank of England warned of "elevated" risks after the Brexit vote. State-backed Royal Bank of Scotland (LSE: RBS.L - news) must bolster its balance sheet by £2bn after failing the test. Regular stress …

  • HIGHLIGHTS-Bank of England's Carney speaks on UK banking risks Reuters - UK Focus - Wed, Nov 30, 2016 08:47 GMT

    Bank of England Governor Mark Carney was speaking on Wednesday after the BoE said Royal Bank of Scotland will have to bolster its capital holdings. The BoE also said the financial system faces a "challenging" outlook due to risks posed by leaving the European Union and other factors including the recent U.S. election. …

  • This is the apocalyptic scenario Britain's biggest banks faced in the Bank of England's latest stress test

    Most lenders performed solidly, but Royal Bank of Scotland, Barclays and Standard Chartered came up lacking. The test was the third run by the Bank of England, and was used as a measure of how well Britain's banks would be able to cope should the world suffer a major economic shock in the coming year.

  • MORNING BID EUROPE-Europe seizes moment on defence Reuters - UK Focus - Wed, Nov 30, 2016 08:17 GMT

    Defence cooperation has always been the Achilles heel of the European Union, either because voters don't like the idea of sending their troops off to war under the command of another nation, or because national sectors have long duplicated each other's weapons programmes because they are major employers back home. Today …

  • 10 things you need to know before European markets open Business Insider UK Finance - Wed, Nov 30, 2016 06:52 GMT
    10 things you need to know before European markets open

    It defended its business model in Europe's highest court on Tuesday, saying its service had made it easier for people to get around and cut pollution as it fights a case which could leave app-based startups facing tougher regulation. Germany is pinning its hopes on Fillon. Finance Minister Wolfgang Schaeuble praised the …

  • Consumers, exports give U.S. economy muscle in the third-quarter Reuters - UK Focus - Tue, Nov 29, 2016 22:43 GMT

    The U.S. economy grew faster than initially estimated in the third quarter, notching its best performance in two years, buoyed by strong consumer spending and a surge in soybean exports. In a separate report, U.S. home prices rose 5.5 percent in the year to September, meaning house prices overall have now fully recovered …

  • "The biggest risk is we overheat and overtighten," David Kelly, chief global strategist at JPMorgan Asset Management, said.

  • U.S. government debt prices were lower on Tuesday as investors awaited the latest release of U.S. economic data.

  • Trump's spending pledge boosts GDP forecasts CNBC - Tue, Nov 29, 2016 18:11 GMT

    A big boost in U.S. government spending could help the sluggish global economy pick up speed, the OECD said Tuesday.

  • U.S. Treasury yields inched higher on Tuesday after stronger-than-expected U.S. gross domestic product data supported expectations for a faster pace of Federal Reserve rate increases next year, while month-end ...

  • DEUTSCHE BANK: The property bubble 'is the most important macro issue in China' Business Insider UK Finance - Tue, Nov 29, 2016 14:32 GMT
    DEUTSCHE BANK: The property bubble 'is the most important macro issue in China'

    China's debt-fuelled property boom, and potential bust, will be one of the biggest issues facing the country's policymakers in 2017, according to Deutsche Bank. Deutsche Bank economists, led by Zhiwei Zhang and Li Zeng, said the real estate bubble is "the most important macro issue in China," in a note to clients. Land …

  • Italy's banks might need a €52 billion bailout Business Insider UK Finance - Tue, Nov 29, 2016 13:54 GMT
    Italy's banks might need a €52 billion bailout

    Italy has a rescue plan for its banks. The back-story: Banca Monte dei Paschi di Siena (MPS) was Italy's third-largest (and oldest) bank until this year, when it was forced to admit it had loaned out billions of euros that were never likely to be repaid.

  • The prresident-elect's talks with Carrier Corp. to reverse a decision to ship jobs from Indiana to Mexico represent a complex economic policy challenge.

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