Topic filter : Recession

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.... More and more people are noticing that the emperor has no clothes. Even if the polls are right this time and Marine Le Pen fails to win the French presidency, a full-scale political revolt is only another deep recession away. ... [Read full article on Guardian ]
Sunday 26th of March 2017 01:23:10 PM
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....The background against which it wants banks to test themselves includes "a sudden increase in the rate of return investors demand for holding sterling assets [which would mean higher interest rates on government bonds] and an associated fall in sterling". Under its annual cyclical scenario, banks must show they can cope with a recession in the global economy and in the UK, interest rates peaking at 4%, and with house prices falling by a third. ... [Read full article on BBC ]
Monday 27th of March 2017 11:43:00 AM
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....4% lower than in the quarter ending in November. The ONS said the quarterly fall matched that seen in January, which represented the weakest retail performance since March 2010, when the economy was just emerging from recession. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 10:37:42 AM
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....”. Shrinkflation started during the last recession and in recent years chocolate-lovers have been regularly targeted. ... [Read full article on Guardian ]
Sunday 26th of March 2017 12:05:16 AM
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....Markets have become increasingly impatient with the new Trump administration for failing to follow through on pledges to use a package of tax cuts and infrastructure spending to raise the US growth rate. Share prices have risen steadily since Trump defeated Hillary Clinton in last November’s race for the White House amid optimism that the US could be on the point of breaking out of the low-growth path evident since the world’s biggest economy emerged from recession almost eight years ago. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 06:21:57 PM
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Latest Finance News related to Recession

UK banks given new stress test scenarios image
Source : BBC [Read Article] Monday 27th of March 2017 11:43:00 AM
....The background against which it wants banks to test themselves includes "a sudden increase in the rate of return investors demand for holding sterling assets [which would mean higher interest rates on government bonds] and an associated fall in sterling". Under its annual cyclical scenario, banks must show they can cope with a recession in the global economy and in the UK, interest rates peaking at 4%, and with house prices falling by a third. ...
Populism is the result of global economic failure image
Source : Guardian [Read Article] Sunday 26th of March 2017 01:23:10 PM
.... More and more people are noticing that the emperor has no clothes. Even if the polls are right this time and Marine Le Pen fails to win the French presidency, a full-scale political revolt is only another deep recession away. ...
Austerity bites? Less chocolate for your money as packets shrink image
Source : Guardian [Read Article] Sunday 26th of March 2017 12:05:16 AM
....”. Shrinkflation started during the last recession and in recent years chocolate-lovers have been regularly targeted. ...
UK retail sales shrug off Brexit fears with February rise image
Source : Guardian [Read Article] Thursday 23rd of March 2017 10:37:42 AM
....4% lower than in the quarter ending in November. The ONS said the quarterly fall matched that seen in January, which represented the weakest retail performance since March 2010, when the economy was just emerging from recession. ...
Nervous markets take fright at prospect of Trump failing to deliver | Larry Elliott image
....Markets have become increasingly impatient with the new Trump administration for failing to follow through on pledges to use a package of tax cuts and infrastructure spending to raise the US growth rate. Share prices have risen steadily since Trump defeated Hillary Clinton in last November’s race for the White House amid optimism that the US could be on the point of breaking out of the low-growth path evident since the world’s biggest economy emerged from recession almost eight years ago. ...
Aberdeen wrestles with hard choices as independence looms again image
Source : Guardian [Read Article] Saturday 18th of March 2017 03:59:43 PM
....Callum McCaig – the SNP MP who drew laughter from colleagues and a stony face from Theresa May at PMQs last week when he asked if the UK could afford to be an independent country given its debt – rejected the idea that the fiscal and economic case no longer adds up. “If we were a petrol state and our only economic activity dropped in value by 75%, we would have had an enormous recession, and we have not. ...
Has the tech bubble peaked? Signs that the startup boom may be fizzling image
....This is partly because of a slowdown in companies going public. Last year was the slowest for US IPOs since the recession, with the amount raised by technology companies falling 60% from 2015, according to Bloomberg News. ...
Household incomes crept up last year, DWP figures show image
Source : BBC [Read Article] Thursday 16th of March 2017 11:20:14 AM
.... . "The period since the recession has been defined not by sharp rises in inequality or poverty, but historically slow growth in average incomes - in 2015-16 average income for working-age adults was no higher than eight years previously. ...
US Federal Reserve raises interest rates to 1% in bid to hold off inflation image
....“There isn’t much bleed over into mortgage rates; it’s mostly the short-term borrowers,” he said. Fed policymakers are known to be concerned that the tax cuts and extra government spending Trump has demanded could overheat the economy and lead to a deep recession. ...
Secrets to business survival: 'always look at new ways to innovate' image
Source : Guardian [Read Article] Wednesday 15th of March 2017 07:00:23 AM
.... Investing in what Sharrock says is the UK’s only integrated heat welding and hot-melt fabric-gluing machine is one example. Another is staff training: in the 2008 recession, the company made sure production staff were trained in all processes, rather than specialising in one as they had previously. ...
Brazil prosecutor targets politicians in Petrobras scandal image
Source : BBC [Read Article] Tuesday 14th of March 2017 11:19:32 PM
.... . He took power promising to tackle corruption and restore fiscal discipline as Brazil faces its worst recession on record. ...
US interest rate rise almost certain after bumper jobs growth image
Source : Guardian [Read Article] Friday 10th of March 2017 06:15:58 PM
....Still, there are several pockets of stagnation in the Trump economy, and those, too, stem from the Obama era. “Public sector employment is still lower now than it was when the recession began,” Gould observed. ...
The UK economy breaks more records – for all the wrong reasons image
Source : Guardian [Read Article] Thursday 9th of March 2017 06:40:24 PM
....Paul Johnson, director of the IFS, said Hammond appeared to be breaking a Conservative manifesto commitment but lambasted the government for making such a “silly” pledge in the first place. Instead, both organisations focused on the bigger picture: the performance of the UK in the years since the onset of the recession since 2008 and what is likely to happen over the next 10 years. ...
Philip Hammond's budget is a long way from tackling future challenges | Larry Elliot image
....The low-key nature of the budget was deliberate. Chancellors only embark on major giveaways during the mid-term of a parliament for one of three reasons: they are awash with cash and need to run down a budget surplus; the economy is in recession and needs stimulating; or the government is planning a snap election. ...
Bank of England deputy's slip-up was astonishing – but its reaction was predictable | Nils Pratley image
....To see why, look at Halifax’s ratio of house prices to earnings, as reliable a guide as any to affordability, froth and danger. The current level is about six times (pdf), which was last seen in 2007, just before the banking crash and recession. ...
Brazil's recession worst on record image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:00:14 PM
. Brazil has been in recession for two years, the latest figures show, marking the deepest economic decline since records began. ...
Rethink rates now or face retail disaster, shops tell chancellor image
Source : Guardian [Read Article] Tuesday 7th of March 2017 07:01:35 AM
....Britain’s hard-pressed retailers have urged Philip Hammond to rethink government plans for revamping business rates amid signs that rising inflation has led to the weakest high street spending in more than five years. A report from the British Retail Consortium and KPMG found that the spurt in consumer spending seen in the run-up to Christmas had come to an abrupt halt, with the result that non-food sales are falling for the first time since the economy was flirting with a double-dip recession in November 2011. ...
Patagonia and The North Face: saving the world – one puffer jacket at a time image
....The high cost of North Face gear creates high expectations: “You get a fairly affluent customer who expects meticulous service. You have to behave as though you’re working at a Vuitton or a Gucci,” said Caitlin Kelly, a journalist who took a job at a North Face outlet in suburban New York after losing her reporting job during the 2008 recession, and wrote a book, titled Malled, about the experience. ...
Goodbye Spring Budget image
Source : BBC [Read Article] Tuesday 7th of March 2017 12:11:17 AM
....Giving four months notice of its withdrawal, scheduled for 1 August that year, prompted tens of thousands of people to rush and buy properties before the deadline. That stoked up the rip-roaring 1980s house price boom to an even greater frenzy than before, and helped pave the way for the subsequent house price crash and the recession of the early 1990s. ...
John Lewis and Waitrose owner set to reduce staff bonus image
Source : Guardian [Read Article] Sunday 5th of March 2017 04:49:46 PM
.... The first bonus was paid at the end of the first world war. The payout was suspended during the second world war and the early 1950s recession, and peaked at 24% of salary in the 1980s. ...
Budget 2017: Hammond to tell us the Brexit vote could have been worse image
....When Philip Hammond stands up to give his budget on Wednesday, this is what you are likely to hear: economic growth has been, and will be, stronger than expected after the Brexit vote. Defying all the doomsayers who said a vote to leave could prompt a recession, consumers carried on spending and businesses continued to expand. ...
Fixing America's failing infrastructure won't be easy, despite Trump's pledge image
....”. Rocky Moretti, the policy director of Trip, a transportation research organization headquartered in Washington DC, said that post-recession economic recovery has brought increased vehicle travel, placing additional strain on roads – urban ones in particular. ...
Fed boss says US rates may rise in March image
Source : BBC [Read Article] Friday 3rd of March 2017 08:14:34 PM
....". In her speech Ms Yellen also said that waiting too long to raise rates "could potentially require us to raise rates rapidly sometime down the road, which in turn could risk disrupting financial markets and pushing the economy into recession". ...
Cheers! Pub saved by its customers rated best in the UK image
Source : Guardian [Read Article] Friday 3rd of March 2017 12:01:31 AM
....A small north Yorkshire village pub which was saved by its local community after going bankrupt has been named the best in the UK. The George & Dragon, in Hudswell, closed in 2008 after the owners went bust at the height of the recession, but regular customers formed a co-operative to buy and refurbish the premises. ...
IFS: Growth in UK living standards worst in 60 years image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:01:10 AM
....If benefit cuts are implemented as planned, the poorest 15% of the population are likely to have lower incomes in five years’ time as a freeze in benefits and universal credit – which on average will be less than the benefits it replaces – take their toll. “Looking forward, we expect the fall in inequality since the recession to be reversed,” the IFS said. ...
'Long shadow' of financial crisis hits incomes image
Source : BBC [Read Article] Thursday 2nd of March 2017 12:18:25 AM
....In five years' time, median income will be 4% higher than it is now, the Institute for Fiscal Studies predicts. The recession and tepid recovery mean that from the start of the crisis to 2021, households will suffer the worst income squeeze for 60 years, it says. ...
Australian economy has been recession-free for 25 years image
Source : BBC [Read Article] Wednesday 1st of March 2017 03:28:43 PM
. Australia's economy grew in the last quarter of 2016, extending its 25-year streak without recession. ...
Related to :
Australia goes 25 years without recession image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:18:44 AM
. Australia's economy gained momentum in the last quarter of 2016, allowing the resource-rich economy to extend its 25-year streak without recession. ...
Australia avoids recession as GDP grows 1.1% in December quarter image
Source : Guardian [Read Article] Wednesday 1st of March 2017 12:43:59 AM
....1% growth in the December 2016 quarter. The result reverses the shock negative result in the September quarter and means Australia has avoided a recession, as was widely projected by market economists. ...
Vast losses at RBS are a legacy of a failed system | Will Hutton image
Source : Guardian [Read Article] Sunday 26th of February 2017 12:05:15 AM
....It is now even clearer than it was at the time that had the government not stepped in, taking a vast £45bn stake, RBS would have gone bust, threatening a more widespread banking panic with cascading consequences hard to contain. At the very least, Britain would have had an even deeper recession – and much slower recovery. ...
'The economy looks set to be slowing again' – experts debate Brexit watch data image
.... As a consequence, this month real earnings, measured in constant 2000 prices, fell from £343 to £341 a week. The buying power of a pay packet is down more than 4% from its pre-recession peak of £356 a week in April 2008. ...
We are unlikely to spot next financial crisis, Bank of England official says image
....The Bank of England is unlikely to predict the next financial crisis, according to one of the central bank’s leading policymakers, who said economic models were unable to provide flawless forecasts for the UK economy. Monetary policy committee member Gertjan Vlieghe said it was impossible for the Bank to forecast a recession, let alone the next crash, and no amount of fine-tuning models of the way the modern economy operates would change that harsh reality. ...
I'm looking for a marketing job but my heart's not in it image
Source : Guardian [Read Article] Friday 17th of February 2017 07:00:03 AM
.... We then print the best of your comments alongside Jeremy’s own insights. I graduated with a first in English when the recession was at its worst. ...
Senators grill Janet Yellen on Republican plans to neuter Dodd-Frank Act image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:35:18 PM
....Yellen said that if, as the Fed expects, the jobs market continues to improve and inflation continues to rise, an increase in the benchmark federal-funds rate would probably be appropriate “at our upcoming meetings”. Yellen told the Senate banking committee that “waiting too long would be unwise” and could trigger a recession if the Fed was forced to raise rates rapidly, disrupting financial markets. ...
Sadiq Khan: government must pay drivers £3,500 to scrap diesel cars image
Source : Guardian [Read Article] Sunday 12th of February 2017 07:05:00 AM
....City Hall believes a scrappage scheme could eventually be rolled out nationally, to help other cities tackle pollution problems. The Treasury introduced a nationwide car scrappage scheme during the 2009 recession, to prevent demand for cars drying up as consumer confidence plunged. ...
Trump envoy says Greece is now more likely to leave the euro image
Source : Guardian [Read Article] Wednesday 8th of February 2017 03:10:19 PM
....Seven years of arduous austerity – the price of the international bailout – had been so bad for the country that it was questionable whether what came next could possibly be worse, Malloch said. In the third bailout in as many years, Greece has lost more than 25% of its GDP due to austerity-fuelled recession, the biggest slump of any advanced western economy in modern times. ...
UK faces return to inequality of Thatcher years, says report image
Source : Guardian [Read Article] Tuesday 31st of January 2017 11:26:31 PM
....But the Resolution Foundation forecast that between 2015 and the next general election in 2020 incomes for the poorest half of households will fall by 2%. That compares with a rise of 4% during the last parliament and 1% between 2005 and 2010 – the five-year period that included the deepest recession since the 1930s. ...
Young people optimistic about economy despite Brexit, says study image
Source : Guardian [Read Article] Monday 30th of January 2017 07:00:46 AM
....4% in November. The economy’s resilience has confounded forecasters, some of whom expected the UK would slip into recession following the shock outcome of the EU referendum last June. ...
Brexit has allowed the banks to get off Britain's naughty step image
Source : Guardian [Read Article] Sunday 29th of January 2017 04:00:28 PM
.... There was distaste for the way a poorly controlled financial sector had wrecked the economy with their speculative excesses and left others to pick up the bill. The recession that the banks caused and the austerity that resulted created the sense of “them and us” – the notion of an unbalanced and unequal Britain – that led to Brexit. ...
Final US growth figures under Obama are a triumph – for Trump  | Larry Elliott image
....This was achieved through highly aggressive monetary policy from the Federal Reserve and a short-lived burst of fiscal activism. It was enough to get the economy moving again, but not deliver the sort of turbocharged perfomance that had followed previous post-second world war recessions. ...
UK GDP growth shows consumers spending despite Brexit worries | Larry Elliott image
....It was supposed to be the moment of truth. Had the economy performed as George Osborne predicted it would in the fevered days before the referendum, late January 2017 would have been the moment when official data showed that output in the UK had contracted in both the third and fourth quarters of 2016 – the technical definition of a recession. ...
Mark Carney: internet-only lenders pose risk to UK financial system image
Source : Guardian [Read Article] Wednesday 25th of January 2017 06:24:20 PM
....The Bank of England governor has warned that a new breed of internet-only lenders are beginning to pose risks to the financial system and without tighter regulation they could trigger the next financial crash. Mark Carney said high street banks were being displaced by online lenders that were untested in a recession, when bankruptcies might make their loans worthless. ...
Dow Jones industrial average surpasses 20,000 to record high image
Source : Guardian [Read Article] Wednesday 25th of January 2017 02:30:48 PM
.... Banks and other financial companies have been among the biggest beneficiaries of the recent share-price rise. But the rise comes against a strong upward trend in the Dow that stretches back to the end of the recession in 2009 and the decision of the Federal Reserve to slash interest rates, making shares a more attractive investment. ...
Globalisation once made the world go around. Is it about to grind to a halt? image
.... In recent years the losers have increased in number – and become more vociferous. Moreover, it is not entirely true that countries have maintained a commitment to free trade since the collapse of Lehman Brothers in 2008 triggered the worst recession since the 1930s. ...
The Trump effect has rallied US markets – but it's based on illusion | Robert Shiller image
.... A Google Ngrams search of books shows that use of the term “inflation-targeting” began growing exponentially in the early 1990s, when the target was typically far below actual inflation. The idea that we actually want moderate positive inflation – “price stability,” not zero inflation – appears to have started to take shape in policy circles around the time of the 1990-91 recession. ...
UK economy is overheating and veering towards stagflation image
Source : Guardian [Read Article] Monday 16th of January 2017 07:00:17 AM
Moody's $864m penalty for ratings in run-up to 2008 financial crisis image
Source : Guardian [Read Article] Saturday 14th of January 2017 06:53:00 AM
....Moody’s reached the deal with the justice department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the department said in a statement. “Moody’s failed to adhere to its own credit-rating standards and fell short on its pledge of transparency in the run-up to the ‘great recession’,” principal deputy associate attorney general Bill Baer said in the statement. ...
Natarajan Chandrasekaran: Who is new Tata Group chairman? image
Source : BBC [Read Article] Friday 13th of January 2017 10:28:22 AM
.... . This period was marked by global turbulence because of the economic recession which severely hampered the growth of Indian IT firms. ...
Bleak trend of low, part-time wages in UK is revealed image
Source : Guardian [Read Article] Friday 13th of January 2017 06:01:09 AM
....The report found that men’s weekly earnings have diverged across the income scales with the hourly wages of high earners outpacing those of middle earners. “The rise of part-time work among men on low hourly wages far predates the recession and is widespread. ...
Toblerone maker to hike price of Cadbury's Freddo bars image
Source : Guardian [Read Article] Thursday 12th of January 2017 05:00:24 PM
.... Food manufacturers are either increasing prices or shrinking pack sizes – dubbed “shrinkflation” – as they look to maintain profit margins as input costs increase. Shrinkflation started during the last recession and in recent years chocolate lovers have been regularly targeted: Mars and Snickers bars have got smaller; 1kg tins of Quality Street and Roses have slimmed down to 820g; and six-packs of Cadbury’s Creme Eggs – also a Mondelēz brand – have been whittled down to five. ...
John Lewis to cut staff bonus after pound’s Brexit slide image
Source : Guardian [Read Article] Thursday 12th of January 2017 09:25:01 AM
....The bonus payout started in 1920. It was suspended during the second world war and the early 1950s recession, and peaked at 24% of salary in the 1980s. ...
Pound falls to almost $1.20 but UK industrial output recovers image
Source : Guardian [Read Article] Wednesday 11th of January 2017 10:36:06 AM
....“We think production likely fell in December, despite the improvement in manufacturing surveys at the tail end of 2016, because unusually warm temperatures in December likely depressed output in the energy supply sector. “As a result, industrial production likely fell for the second consecutive quarter in the fourth quarter – technically marking a recession for the sector – leaving the services sector as the sole locomotive of growth at the end of last year. ...
Rising inequality threatens world economy, says WEF image
Source : Guardian [Read Article] Wednesday 11th of January 2017 09:26:38 AM
.... The WEF said recent events in Europe and the US suggested an “appetite for rebalancing towards democracy and national sovereignty”. The WEF said it had been pointing out the dangers of rising inequality and political polarisation for more than a decade, but that the slow pace of recovery from the deep recession of 2008 had intensified income gaps within countries. ...
Trump and Brexit put global economic growth at risk, World Bank says image
Source : Guardian [Read Article] Tuesday 10th of January 2017 09:00:00 PM
....A tentative pickup in the global economy this year is at risk from the political uncertainty unleashed by Brexit and the arrival of Donald Trump in the White House, the World Bank has said. The Washington-based organisation said 2016 had been the weakest year for the global economy since the deep recession of 2008-09 and expressed concern that protectionist pressures would continue to increase unless the pace of activity picked up. ...
Maximum wage cap: how might it work? image
Source : Guardian [Read Article] Tuesday 10th of January 2017 12:11:32 PM
....Corbyn’s response to questioning on the radio was less a worked-out policy than a howl of outrage. He believes many voters share his fury that highly paid corporate executives emerged all but unscathed from the financial crisis that plunged Britain into recession. ...
My new year forecast: Trumpian uncertainty, and lots of it image
Source : Guardian [Read Article] Monday 9th of January 2017 11:59:13 AM
.... Economic forecasting is notoriously difficult but, notwithstanding the truth expressed in Harry Truman’s request for a one-armed economist (who wouldn’t be able to say “on the other hand”), my record has been credible. In recent years, I correctly foresaw that, in the absence of stronger fiscal stimulus (which was not forthcoming in Europe or the US), recovery from the great recession of 2008 would be slow. ...
Economic forecasts are hardwired to get things wrong image
Source : Guardian [Read Article] Sunday 8th of January 2017 12:08:43 PM
.... Even so, it is a valid question. How can it be that the Bank of England, the Treasury, the IMF, the OECD, not to mention the vast majority of academic economists, all predicted so confidently and yet so wrongly that the UK economy would plunge straight into a stonking great recession after a Brexit vote?. ...
No one can afford to stop the new consumer credit crisis image
Source : Guardian [Read Article] Sunday 8th of January 2017 07:05:11 AM
.... Why would it allow criticism by a regulator it controls of its own interest-rate policy?. The Treasury is unlikely to step in when it needs spending on credit to continue or risk a recession. ...
Brexit wasn’t a ‘Michael Fish moment’: but economics does need to change image
.... And now, post-Brexit, all is calm in the British economy where Threadneedle Street said there would be turmoil. As for a recession sometime soon, which the Treasury said was a possibility, there is not a sliver of evidence. ...
Five things economists can do to regain trust image
Source : Guardian [Read Article] Friday 6th of January 2017 11:49:04 AM
.... In short, we can look to economics to give us best guesses of how changes might affect people but should not take them as cast iron predictions. Officials inside the Treasury have faced criticism for predicting a technical recession in the second half of the year without factoring in policy changes by the government in reaction to the Brexit vote (which should be easy when it is the Treasury itself that makes the changes) and the Bank of England, which could, and did, have a huge impact. ...
Chief economist of Bank of England admits errors in Brexit forecasting image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:52:01 PM
....6%. Forecasts by the Treasury, the International Monetary Fund and the Paris-based OECD, all pointed to a recession after the vote, based on assumptions of steeply declining consumer spending and business investment. ...

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