Most interesting finance and busines news.
The U.K. housing market strengthened in September as the proportion of surveyors and real-estate agents reporting higher prices rose to the highest since May 2007, the Royal Institution of Chartered Surveyors said.
The number of respondents saying prices rose exceeded those reporting declines by 22 percentage points, compared with 10 percent in August, RICS […]
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South Korea’s central bank kept its benchmark interest rate unchanged at a record low and signaled it may keep borrowing costs on hold as home loans slow and it gauges the strength of the economic recovery.
Governor Lee Seong Tae left the seven-day repurchase rate at 2 percent in Seoul today and said the […]
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The rebound in U.S. consumer spending, driven by government stimulus, will wane as the unemployment rate surpasses 10 percent, a survey of economists showed.
Household purchases will grow at a 1 percent annual rate this quarter after rising at a 2.4 percent pace in the previous three months, according to the median forecast of […]
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Irish Finance Minister Brian Lenihan said the country’s biggest banks may need further money from the state even after selling real-estate loans to the government.
The proposed National Asset Management Agency will pay 54 billion euros ($79.4 billion) to buy loans with a book value of 77 billion euros from five lenders, including Bank […]
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U.K. consumer confidence rose to the highest in 1 1/2 years in September as the economy showed signs of escaping the recession, Nationwide Building Society said.
An index of sentiment rose six points to 71, the highest since April 2008, Britain’s biggest customer-owned lender said in an e-mailed statement today. TNS questioned 1,000 people […]
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Europe’s manufacturing and services industries expanded more than initially estimated in September, adding to signs the economy is gaining steam after the worst recession in six decades.
A composite index of both industries in the euro-area economy rose to 51.1, up from 50.4 in August and higher than an initial estimate of 50.8, London-based […]
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Brazil’s Central Bank President Henrique Meirelles said yields on interest rate futures reflect investor uncertainty about the course of economic policy after next year’s elections.
“Evidently there’s a discussion about what economic policy will look like in January 2011” when the next government takes office, Meirelles told reporters in Istanbul. “If you think that […]
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Venezuela is basing its 2010 budget on assumptions that oil prices will fall and the economy will grow, President Hugo Chavez said.
The government will propose a budget Oct. 15 based on an average oil price of $40 a barrel, economic growth of 0.5 percent and inflation of 20 percent to 22 percent, Chavez […]
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Mario Draghi’s drive to rein back bankers’ pay is pushing him to the forefront of candidates to succeed Jean-Claude Trichet as head of the European Central Bank.
Italian Foreign Minister Franco Frattini on Sept. 29 backed the country’s central bank chief to run the ECB when Trichet’s term expires in 2011, the first time […]
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The Federal Reserve Bank of Minneapolis named Narayana Kocherlakota, an economics professor at the University of Minnesota with expertise in finance and banking, to replace former chief Gary Stern.
Kocherlakota, 45, takes office on Oct. 8 and is a consultant to the Minneapolis Fed, bank spokeswoman Patti Lorenzen said today. He is a former […]
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