Economic News

LONDON (AFX) - The euro was looking to end the year on a firmer note as analysts continue to believe that the European Central Bank will raise interest rates further in 2007. Data out this morning showed euro zone M3 money supply in November jumped at an annual rate of 9.3 pct, well above October's 8.5 pct growth and beating analysts' forecast for a much more modest increase to 8.7 pct. This is  ...

LONDON (AFX) - European government bonds approached the weekend a bit firmer as the market took a breather from three weeks of losses, but nevertheless remained fragile after an unexpected rise in euro zone money supply figures. Euro zone M3 money supply growth jumped up to 9.3 pct in November from 8.5 pct the month before, while the market was looking for an 8.7 pct gain. "The sharp jump i ...

NEW YORK (AFX) - Consumer confidence improved to its strongest level in eight months in December after lackluster performance through the fall, but a private research group said Thursday it was too soon to determine if its reading was signaling genuine improvement. The Conference Board said that its Consumer Confidence Index rose to 109.0 in December from a revised 105.3 in November and 105.1 in  ...

LONDON (AFX) - European government bonds fell, tracking Treasuries after the release of strong US economic data. The Chicago PMI jumped to 52.4 in December from 49.9 in November, far above the 50.0 expected by analysts, while the consumer confidence index rose to 109.0 from a revised 105.3 in November. At the same time, sales of existing homes eked out a small increase in November, although the  ...

BRUSSELS (AFX) - Luxembourg Central Bank governor Yves Mersch said euro zone interest rates are at historically low levels despite the European Central Bank's gradual tightening of monetary policy over the past 12 months. In a statement, Mersch noted that the euro zone economy has picked up, with growth estimated at 2.5-2.9 pct in real terms. "The vigour of this growth and the ample liquidi ...

BRUSSELS (AFX) - EU economic and monetary affairs commissioner Joaqin Almunia urged euro zone countries not to use the single currency as a scapegoat for their economic woes. Almunia trumpeted the benefits of the single currency in a statement to mark the fifth anniversary of the introduction of euro notes and coins. "Let's make people aware of these benefits - low inflation and interest ra ...

Becky Barrow & Steve Doughty, Daily Mail28 December 2006 Gold-plated public sector pensions cost every family an average of £900 a year, it emerged last night. WANT TO KNOW MORE? ADVICE: Pensions advice POLL: Do you agree that the state pension age has to rise? OTHER STORIES House prices up 10.5% in 2006 Fat cat bosses pile on the pounds Market report: Thursday latest ...

This is Money28 December 2006 A national debate over pay was called for today following the publication of new figures showing that executives' earnings were increasing 17 times faster than average wage rises. OTHER STORIES Brawling over the bargains Barclays hit by Xmas email scam Market report: Tuesday close Property boom set for 2007 Christmas PCs in virus threat BUDGET ...

BEIJING (XFN-ASIA) - The US Federal Reserve is expected to cut rates in 2007 and that will reinforce the dollar's downwards bias and the yuan's tendency to rise, a senior Chinese central banker was reported as saying. Wu Xiaoling, a vice-governor of the People's Bank of China, said in a review of 2006 published in the Financial News, a central bank-backed daily, that the Fed is likely to begin cu ...

LONDON (AFX) - The dollar came off day lows thanks to a larger than expected rise in new homes sales which suggested that the property market may be stabilising after recent falls. The US data was the feature of the day in an otherwise listless session as the year end drew closer. Official data showed that sales of new homes rose in November while the backlog of unsold homes fell for a fourth str ...