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Euro zone interest rates remain on hold
The European Central Bank (ECB) has today opted to leave interest rates unchanged at 1.5% – for the third consecutive month. The move was widely expected. Rates were lifted from the historic low of 1%...
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David Cameron urges action for euro zone
British Prime Minister, David Cameron, is urging European leaders to take “decisive steps” to deal with the debt crisis. Mr Cameron said the crisis is putting the global economy in a “precarious”...
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Euro zone industrial output up 1.2% in August
The EU statistics office Eurostat has today revealed euro zone industrial output rose by 1.2% in August. On an annual basis, meanwhile, industrial output grew by 5.3%. Both sets of figures beat...
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Euro zone’s ‘powerhouse’ expected to slow
Growth in the Germany economy, which is the euro zone’s largest, is expected to slow sharply next year as the ongoing debt crisis persists. In a closely monitored twice-yearly report, Germany’s...
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IMF downgrades growth forecast for Asia
The Washington-based International Monetary Fund (IMF) has downgraded its growth prospects for Asia amid the euro zone debt crisis and sluggish US growth. The IMF is now forecasting growth for Asia of...
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Item Club warns of euro zone crisis impact
Leading think tank, the Ernst & Young Item Club, has warned that growth within the UK economy is “grinding to a halt” because of the euro zone debt crisis. The Item Club also warned that the...
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Euro debt crisis impacts on Goldman Sachs Q3 results
US banking giant Goldman Sachs has today reported a fall in third quarter profits. Goldman Sachs, which is the US’ largest investment bank, made a net loss of $393 million (£250 million) for the third...
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Euro crisis: Leaders gather for emergency summit
EU leaders are travelling to Brussels for an emergency summit – the 14th in 21 months – designed to tackle the euro zone debt crisis. The summit will also see leaders discuss Greece’s second bailout,...
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Cost-cutting boosts Barclays profits
In an interim management statement today, banking giant Barclays said profits climbed 5% in the third quarter – boosted by cost-cutting measures. For the three months to the end of September, the bank...
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ILO: Global economy on brink of jobs recession
The International Labour Organization (ILO) has warned that the world economy is heading towards a new jobs recession, which could trigger social unrest in some countries. The recent slowdown in the...
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