All Entries Tagged With: "economy"
GDP fell 6.1% for first quarter: there is an upside
The U.S. economy is still looking a bit shaky as the GDP has fell 6.1% for the first quarter; this is much the same as the fourth quarter of 2008. However, there is still an upside to this, which is explained in the video below.
Budget 2009 UK News
Alistair Darling certainly has his work cut out for him today as he tries his best to get Britain back on track with today’s Budget 2009. The UK economy Ali download is in a state and it will take something special to get us out of this big hole, so everyone will be hanging [...]
Nancy Pelosi blamed for industry bailout bill faliure
The Republicans are laying the blame solely at U.S. House of Representatives Speaker Nancy Pelosi, for the failure financial industry bailout bill. Pelosi remarks against President George W. Bush and his Republican party was bad timing.
Bill Heard Chevrolet closing down: rising fuel takes its toll
Bill Heard Chevrolet is yet another victim along with about 2,700 staff who is being hit hard with the economy crisis and raising fuel
US house sales down 2.6% to a 10-year low
The National Association of Realtors have said in a report that US house sales fell by 2.6 percent in June, reaching the lowest level in ten years. The sales of homes in June had slowed much lower than was expected.
The National Association of Realtors said that
Bank of England: UK heading into recession
Professor David Blanchflower, who is one of the nine people who meet at the Bank of England to decide on the UK interest rates, has warned that the UK is heading into a recession, he has now called on his colleagues to act immediately.
Canada facing its own mortgage crisis
The news that the U.S. government has had to step in to help out IndMac, Freddie Mac and Fannie Mae, has sent a warning to Canada that they could be facing their own mortgage crisis.
Export Development Canada vice-president and chief economist, Peter Hall has said in a recent report that
CHL Mortgages surprised by Bank of England's decision
As we know The Bank of England has kept the base rate at 5%, CHL mortgages was surprised by this and has decided to comment on this. Many experts in the housing market expected there to be a drop of 0.25% in the base rate, but the Bank of England’s Monetary Policy Committee decided to [...]
Bank of England holds base rate at 5%: are they right
We all knew the decision before the Bank of England did, they have decided to keep the base rate at 5% amid pressures of slower economic growth and rising inflation.
This news will come as a shock to those in the housing sector, as they were calling for a
2 percent fall in house prices increase recession worries
House prices in the UK have seen their sharpest annual fall for at least two decades, in June the value of a house fell by at least 2 percent, this downturn in the property market is now spreading fears that the economy could plunge into a recession.
Today's Bank of England expectations
The Bank of England meets today to decide where they are going with interest rates this month; the expectations are that they will keep them at 5 percent; it seems that the worry about rising inflation will outweigh the worry of the UK’s slowing economy.
Freddie Mac & Fannie Mae committed to raising more capital
Henry Paulson, the U.S. Treasury Secretary has been saying how pleased he is that Freddie Mac and Fannie Mae are committed to raising more capital this spring, he also commented about the reform of the government-sponsored enterprises, saying that is the best way to combat foreclosures.
Recession Fears: Bank of England facing interest rates decision
Many UK businesses have been showing fresh concerns that the UK could be heading into a recession, the first since the 1990’s. The Bank of England now has a tough choice to make, as inflation still shows no sign of shrinking.
The problem is the Bank of England will need to justify their choice if they [...]
South African house-price growth slow due to rising interest rates
House-price growth in South Africa has now slowed to a 9-year low, the annual rate is just 3.8 percent, this has been blamed on rising interest rates, and growth is now the slowest it has been since September 1999.
Britain's housing market crisis: Mortgage approvals slump 20%
It seems that there are no signs of a reprieve in the current housing slump; Britain’s housing market crisis has now taken a turn for the worse as mortgage approvals are now down 20%, hitting an all time low. The British Bankers’ Association has said that