Economics RSS

Obama to tell Asia growth needs broad base

Fri, 13 Nov 2009 00:01:00 GMT

Barack Obama will tell Asian leaders that global prosperity needs a balanced approach to growth that relies less on debt-fuelled consumption.

US jobless claims lowest since January

Thu, 12 Nov 2009 18:38:45 GMT

President Barack Obama admitted that his $787 billion economic stimulus has not boosted the jobs market as much as hoped, as he convened a major summit on employment next month.$

High oil prices threaten economic recovery

Thu, 12 Nov 2009 14:32:56 GMT

The recent rise in oil prices, buoyed by growing global demand and economic revival, “risks derailing the recovery” if it continues, the International Energy Agency (IEA) said today.

Fraud office probes $500m hedge fund$

Thu, 12 Nov 2009 12:48:57 GMT

The Serious Fraud Office (SFO) has today launched a formal criminal investigation into a $500 million London hedge fund following complaints from investors and a referral by the City$’s chief regulator.

SFO drops case against Sir Christopher Evans

Thu, 12 Nov 2009 12:05:17 GMT

Sir Christopher Evans, the biotech entrepreneur, will not be prosecuted by the Serious Fraud Office over allegations relating to his business, Merlin Biosciences, Times Online has learnt.

Gender pay gap dips as women's pay rises

Thu, 12 Nov 2009 11:32:54 GMT

The pay gap between men and women has fallen by just 1 per cent in the past year as full-time women workers' pay rose by 3.4 per cent.

Growth without inflation for Britain is a tricky task

Thu, 12 Nov 2009 00:01:00 GMT

Do the Governor’s remarks, coupled with the slowdown in the rate at which unemployment is rising, mean the UK economy is out of the woods?

The worst is over, says Bank of England Governor

Thu, 12 Nov 2009 00:00:53 GMT

Better-than-expected unemployment figures and a rosier growth forecast from the Bank of England raised hopes yesterday that Britain was beginning to claw its way towards economic recovery.

Airport is latest lavish Japanese public project to fly in the face of facts

Wed, 11 Nov 2009 17:13:00 GMT

Deep in the Ibaraki backwaters, far from anything useful and tucked at the end of an orchard-lined B-road, workmen are putting the finishing touches to a beautiful Japanese disaster: an international airport with (almost) no planes.

China delivers hint on currency rise before Obama arrives in Beijing

Wed, 11 Nov 2009 17:12:00 GMT

China moved yesterday to head off a currency row with President Obama by hinting that it would allow the renminbi to rise after keeping the exchange rate on ice for 16 months.

Gordon Brown accused over one in five young out of work

Wed, 11 Nov 2009 12:38:10 GMT

David Cameron today accused Gordon Brown of failing Britain's youth after figures were released showing one in five young people is now out of work.

Bank of England talks up hopes of strong recovery

Wed, 11 Nov 2009 12:08:11 GMT

The Bank of England today surprised economists by raising its forecasts for economic growth over the next two years, stating that the weak pound and its £200 billion money printing scheme should help restore confidence.

Surprise jobless figures boost economic outlook

Wed, 11 Nov 2009 09:39:14 GMT

The rise in British unemployment slowed abruptly in the three months to September to 2.46 million as the number of people landing jobs rose for the first time in more than a year.

HSBC and Barclays suggest the ‘biggest jolt has passed’

Wed, 11 Nov 2009 00:01:00 GMT

HSBC and Barclays, Britain’s biggest banks, reported significant improvements in underlying profits yesterday and gave fresh evidence that the explosion in defaults by business and personal borrowers is beginning to ease.

Watchdog warns of $500bn annual cost of delaying action on climate change$

Wed, 11 Nov 2009 00:01:00 GMT

The world is facing a bill of $500 billion ($£300 billion) for every year that it delays in reaching a global deal on climate change, the International Energy Agency (IEA) said yesterday.

Pound backtracks after Fitch deficit warning

Wed, 11 Nov 2009 00:01:00 GMT

Sterling tumbled from its three-month high yesterday after Fitch, the ratings agency, took a shot across the Government’s bows, warning that its huge budget deficit put it most at risk of a ratings downgrade among its toprated peers.

UK most exposed to losing AAA credit rating

Tue, 10 Nov 2009 15:33:03 GMT

The UK Government is most at risk of losing its AAA sovereign debt rating among the top-rated nations because of its huge budget deficit, Fitch, the ratings agency, warned today.

Trade deficit balloons on car and oil imports

Tue, 10 Nov 2009 10:33:01 GMT

Britain’s goods trade deficit with the rest of the world widened more than expected in September to the biggest gap since January, hit by Britain's "cash for bangers" scrappage scheme which has driven a surge in car imports.

October shopping spree raises hopes that retailers will lead Britain out of recession

Tue, 10 Nov 2009 00:01:49 GMT

The value of goods sold on the high street surged at an annual rate of 3.8 per cent last month, fuelling hopes that spending in the run-up to Christmas could help to drag the economy out of recession.

Sterling at a three-month high against the dollar

Tue, 10 Nov 2009 00:01:37 GMT

Sterling hit a three-month high against the dollar yesterday as the greenback dipped amid expectations that US interest rates will remain at historic lows for the forseeable future.

House prices rise despite more stock on market

Mon, 09 Nov 2009 22:30:40 GMT

More properties coming on to the market did not stop house prices rising in October, according to the Royal Institution of Chartered Surveyors.

Brace yourselves for Credit Crunch II . . .

Mon, 09 Nov 2009 17:25:00 GMT

Over-leveraged, over-ambitious and over here. The American private equity firms who stormed into the UK to buy up a range of British companies from pubs to retailers have left behind a mountain of corporate debt that threatens to trigger a second credit crunch, which in turn will leave hundreds of thousands of people out of work.

Flawed theories that have brought disastrous results

Mon, 09 Nov 2009 00:01:22 GMT

Last month’s creation of the Institute for New Economic Thinking should provoke some serious soul-searching among professional economists, as well as the policymakers and financiers who have relied on their models.

Bank of England says it is hard to measure QE’s success

Mon, 09 Nov 2009 00:01:00 GMT

The Times is running a fortnightly series of briefings to coincide with Target Two Point Zero, the Bank of England’s competition for sixth-form students run in conjunction with this newspaper. The contest challenges students across Britain to play the role of the Bank’s Monetary Policy Committee (MPC) and recommend the best level for interest rates. This week: Quantitative Easing.

Outlook for jobs will remain grim ‘for several years’

Mon, 09 Nov 2009 00:01:00 GMT

Job losses will continue this quarter, but at the slowest pace since the beginning of the recession, according to figures from the Chartered Institute of Personnel and Development (CIPD) and KPMG, the financial services firm.