Economic News

Benedict Brogan, Daily Mail18 March 2007 Gordon Brown has 'dumped' a landmark council tax review for fear of antagonising millions of middle-class voters. The review, due out next week, will recommend an overhaul that would result in owners of expensive homes facing swingeing increases. OTHER STORIES Ofcom to act over TV quizzes Mothercare considers ELC bid A to Z of the Sunday new ...

FRANKFURT (AFX) - Share prices gave up afternoon gains after US markets moved lower as investors weighed up data that showed rising inflation and a cooling overall economy, dealers said. The DAX closed off 4.69 points or 0.08 pct at 6,580.78 after trading between 6,528.30 and 6,614.06. The MDAX had gained 73.45 points or 0.77 pct to 9,651.37 and the TecDAX was 0.37 points or 0.05 pct lower to 80 ...

LONDON (AFX) - The euro stayed well bid above the 1.33 usd level after an afternoon of mixed US data including slightly stronger than expected inflation numbers. The figures failed to lift the weak sentiment surrounding the dollar and analysts noted that the dollar's weakness has become more broad-based amid a week of stock market volatility. There was little impact from the afternoon's US infla ...

NEW YORK (AP) - The employment outlook isn't generating nearly as many headlines as the subprime mortgage mess, but maybe it should. That's because the job market is in pretty good shape, offering support to the economy when other factors are surely weighing on growth. It's easy to see why the implosion in mortgages to people with weak credit has panicked stock investors. Their biggest fear is th ...

LONDON (AFX) - The euro continued its steady climb above the 1.33 usd level with slightly higher than expected US inflation data failing to make an impact. The single European currency today broke past the 1.33 usd mark for the first time in 2007 on mounting concerns the stalling US housing market will drag the rest of the economy down. Analysts said the dollar's weakness appears to be no longer ...

WASHINGTON (AP) - Consumer inflation spurted higher in February, reflecting rising costs for gasoline and big jumps for food, while industrial output rebounded sharply, in large part because of the biggest jump in utility production in 17 years. The Labor Department reported Friday that its Consumer Price Index rose by 0.4 percent last month, double the January increase and the largest advance si ...

LONDON (AFX) - Gold edged up, benefiting from the dollar's losses but further gains are seen unlikely ahead of key US data later today. At 11.44 am gold rose to 651.15 against 647 usd in late New York trades yesterday. "The stronger euro (against the dollar) this morning leaves the gold market somewhat cheap relative to currency markets and ought to see gold challenge the 655 usd per ounce  ...

LONDON (AFX) - Chancellor of the Exchequer Gordon Brown will deliver his swansong budget on Wednesday with an upbeat appraisal of the UK economy over the last ten years and the bare bones of what a Brown-led government will do on the environment over the coming years. Brown, who is thought to be a shoe-in to become Prime Minister when Tony Blair quits some time before the Labour Party Conference  ...

LONDON (AFX) - European government bonds were higher, boosted by falls on equity markets, with market players awaiting key US inflation data this afternoon. Focus will centre on the core CPI rate and investors will be particularly wary after yesterday's much stronger-than-expected US producer prices numbers. Ahead of the release, however, trade will be cautious and driven by movements in equity m ...

LONDON (AFX) - UK Chancellor of the Exchequer Gordon Brown gave a strong hint that next week's Budget will include another upbeat set of forecasts for the economy, and suggested there may be some good news for businesses in the form of corporation tax cuts. In an interview with the Financial Times, Brown suggested he will at least maintain his optimistic forecast for 2007 GDP of 2.75-3.25 pct whi ...