Economic News

By Jonathan Leff SINGAPORE (Reuters) - Oil eased away from $70 on Monday after shedding 2.4 percent last week, with dealers weighing more positive signals from Iran on its atomic programme. U.S. light, sweet crude (CLc1: Quote, Profile, Research) fell 28 cents to $69.60 a barrel on Monday, snapping a three-day rising streak. Brent crude dropped 10 cents to $68.70 a barrel. Oil slumped to a mor ...

The UK economy should grow more quickly than previously expected this year, the CBI business group has predicted. It sees growth picking up despite current high energy costs, with improved exports boosting manufacturing and the service sector staying strong. While the CBI sees inflation exceeding the government's 2% target, it says raising interest rates is not necessary due to energy bills cooling in 2007. The CBI expects the UK economy to grow by 2.4% across 2006 as a whole. Official figur ...

LONDON (Reuters) - Robust export growth is set to boost the economy this year and next but surging energy prices will buoy inflation above its 2 percent target in that time, a top business group said on Monday. But policymakers should resist the temptation to act pre-emptively and keep rates on hold at 4.5 percent for now. The Confederation of British Industry said it expects the economy to expa ...

Dan Atkinson, Financial Mail18 June 2006 INFLATION fears could be stoked this week by official figures expected to show continuing rapid growth in the amount of money in the economy. OTHER STORIES Predator weighs up ITV BAE fury over Airbus sale Market Report: Friday close Macquarie set to spark bids battle for ABP Chairman quits troubled Benjys THE EDITOR'S PICKS TOP STORY: ...

Treasury prices lost a bit of strength early Monday, sending yields higher, in a market that continues to fix on concerns that the Federal Reserve will not depart from its rate-tightening course soon. The benchmark 10-year Treasury note last was down 2/32 at 99-29/32 with a yield (TNX) of 5.133%, up from 5.126% at Friday's close. Prices and yields move in opposite directions. The yield curve ...

China's central bank has said it will strive to stop the "excessive" availability of credit and money. The bank made the announcement following a quarterly monetary policy meeting, but gave no further details. There are fears that unfettered economic growth could lead to growing inflation in the economy. The news comes after the central bank unexpectedly said last week that it would require banks to increase their financial reserves by 0.5%. Increasing credit and, therefore, investment in Ch ...

NEW YORK (Dow Jones) -- Did we see the bottom, or just a short-term bounce? The historic two-session rally in stocks over Wednesday and Thursday was certainly promising for bulls, but it also created a nice opportunity for bears. Just as it was premature to declare the sharp intraday reversal a week earlier as the bottom, without seeing how the market reacted to it the following day, it's to ...

Evening Standard19 June 2006 THE CBI has called for calm amid fears of higher inflation, insisting the Bank of England can meet its targets without raising interest rates. OTHER STORIES Nokia and Siemens hook up Market report: Monday 09.00 Sugar on £1bn property spree World Cup bookies on target Brambles in record Cleanaway sale THE EDITOR'S PICKS TOP STORY: End of card  ...

By Catherine Hornby LONDON (Reuters) - Average asking prices for homes in England and Wales rose at their fastest annual pace in more than a year in the period from mid-May to early June, driven by London and the south, a survey showed on Monday. Property website Rightmove said asking prices rose 6.4 percent in the period compared with a year earlier, up from a corresponding 5.9 percent gain in the preceding 30-day period and the strongest rise since the March/April survey in 2005. Asking pri ...