All Entries Tagged With: "Recession"

Denmark economy on the up as Britain is still in recession

Gordon Brown and Alistair Darling believed would be ‘well placed’ to ride out the recession, however Britain remains the only G20 economy to fail to expand between July and September.

How long will the UK be in a recession?

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It is no secret that we are now in a full-blown recession but there are many analysts and experts who have mixed views about how long we will be in one. Some say 12 months others say 1 to 2 years, while others say 2 years plus.

Bank of England poised to cut interest rate by at least 0.5 percent

The Bank of England (BoE) is likely to cut the interest rate to their lowest level on record this week. It’s widely expected the BoE with cut the rate by at least 0.5 percent to 1.5 percent.
The Central bank’s Monetary Policy Committee on Thursday ends it’s two day meeting and will announce the cut, some [...]

Britain to fall behind the US, Japan, Germany, France and Italy

According to Oxford Economics forecasting company Britain were better off than Italy, France, Japan, Germany and the United States when wealth per capita was measured in dollars in 2007.
With the Recession taking its first bite of the British Economy in 2008, Britain fell in fourth place behind America, Germany and France but it’s predicted that [...]

Senate to vote on Auto Bailout: Could lead to industry collapse

After the Automaker bailout for Ford Motor Co (NYSE:F), General Motor (NYSE:GM) and Chrysler LLC was passed by the House of Representatives it’s looking unlikely that the Senate will pass the bailout after supporters face an uphill struggle on Thursday.
The plan is to provide loans to the value of $15 billion to stop the possible [...]

Official: Poland Deficit Reaches 15 Billion Zlotys ($5.2 billion)

Poland’s deputy Finance Minister, Elzbieta Suchocka-Roguska, said that after November the deficit will reach 15 billion zlotys due to accelerating expenditure in a meeting with Reuters on Monday. In 2008 the Polish government expects a deficit of 22.9 billion zlotys according to their full-year plan targets.
Over the weekend the Polish

Japan sinks into recession: Stocks tumble 42 percent

Its official Japan is now in recession, according to government figures the Japanese economy contracted in the third quarter by 0.4 percent following the second quarter decline.
Japan the world’s second biggest economy declined months after large companies announced warnings regarding their profits falling and their stocks

10 Ways to Beat Recession: Including Mortgage Tips

After last week’s official announcement by both the governor of the Bank of England, Mervyn and Prime Minister, Gordon Brown, Britain is heading into a recession with the added statistics that were published on Friday showing that we have a shrinking economy. We now need to know how to survive the recession.
It will come as [...]

Hedge Funds: 30 percent could go in banking fiasco

According to Emmanuel Roman co-chief executive officer at GLG Partners Inc., 30 percent of hedge funds could go globally. Roman said that many hedge funds would either go bust or decide that the poor profits were not worth the effort according to several tabloid reports.
New York University Professor Nouriel Roubini also said that hundred

Britain’s growth snaps after 53 years: Pound tumbles on news

In the three months to September Britain’s economy shrunk by 0.5 percent this is the first decline in 16 years according to official GDP figures. Evidence now shows that Britain is now in the first stage of recession, this being the first time since the early 1990’s.
The housing crash and credit crunch has taken control [...]

Mortgage lending hammered down 42 percent

Mortgage lending dropped to £17.7 billion in September according to the Council of Mortgage lenders (CML) that’s a drop of 10 percent from the previous month and a whopping 42 percent decrease from September 2007.
September Is generally a good month for sales as people try to sell their homes before

Britain already in Recession?

Lord Mandelson the UK Business Secretary has warned a “contraction” was to be expected, but it is impossible to know how long it would last, and that the UK is on the brink of recession.
The news came just before the official figures that will show the first quarter of “negative growth” for over 16 years.
If [...]

Britain: already in recession? FTSE 100 plunges again

October 16. Britain’s FTSE-100 closed down at 3861.39 dropping 218.12 points or 5.4 percent. The benchmark of the UK’s largest companies is now down 41 percent this year and fund managers predict there are more tough times ahead.
There were big losses all over the stock market today, travel companies were badly hit with

UK on verge of recession, first official warning from Bank of England

Governor of the Bank of England Mervyn King has warned for the first time that the economy is on the verge of recession, and that the it will start to shrink by the end of

U.S. mortgage applications index slumps by 1.5 %

According to the Mortgage Bankers Association’s index, U.S Mortgage applications declined as soaring interest rate makes it so much harder to