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Last Updated:
Sep 2, 2010 - 5:07:16 PM |
News
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Irish Economy
Irish Exchequer deficit at end-August 2010 was €12.1bn
The Irish Exchequer deficit at end-August 2010 was €12.1bn, according to the Department of Finance this afternoon. The Department said this compares to an Exchequer deficit of €18.7bn in the period to end-August 2009 and in overall terms, is generally in line with expectations and the Budget Day targets for 2010 remain valid. Tax revenues are just under €1.9bn or 9% below the corresponding period in 2009. Net voted expenditure is just under €1.8bn or 6% lower.
Sep 2, 2010 - 5:02:51 PM
News
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EU Economy
Trichet announces extension of emergency lending measures for banks into 2011; Upward revision in economic forecasts for 2010 and 2011
European Central Bank President Jean-Claude Trichet today announced the extension of emergency lending measures for banks into 2011. He also announced an upward revision in economic forecasts for 2010 and 2011.
Sep 2, 2010 - 3:42:00 PM
News
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US Economy
Contracts for US second-hand houses unexpectedly rose in July; US retailers in August report rise in sales and discounts; New weekly jobless benefit claims dip by 6,000
The number of contracts to purchase US second-hand house unexpectedly rose in July, signalling the market may be starting to stabilize after a plunge in the aftermath of the expiration of a homebuyer tax credit last April. US retailers in August reported a back-to-school bounce but at the expense of big discounts and new weekly jobless benefit claims fell 6,000 last week.
Sep 2, 2010 - 2:26:00 PM
News
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EU Economy
Eurozone GDP in Q2 2010 confirmed at 1% - - outpacing US and Japan; Q1 growth revised up
GDP (gross domestic product) increased by 1.0% in both the Eurozone (EA16) and the EU27 during the second quarter of 2010, compared with the previous quarter, according to the latest estimates released by Eurostat, the statistics office of the European Union. In the first quarter of 2010, growth rates were +0.3% in both zones. First quarter growth was revised up. Growth outpaced US and Japan.
Sep 2, 2010 - 11:06:48 AM
News
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International
Markets News Thursday: ECB expected to keep emergency bank support measures in place into 2011; Total Produce reports 5.5% rise in H1 2010 pre-tax profits
Markets news on stocks, currencies and commodities; ECB expected to keep emergency bank support measures in place into 2011; Total Produce reports 5.5% rise in H1 2010 pre-tax profits.
Sep 2, 2010 - 9:26:36 AM
News
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Irish Economy
Irish pension funds face a return to funding difficulties; Greece and Ireland posted double-digit market declines in August
Irish pension funds face a return to funding difficulties according to Hewitt Associates, the global pensions consultants, on Wednesday. Meanwhile, in New York, Standard & Poor's reported that in August, twenty-three of the 25 developed markets declined in August, with both Greece and Ireland posting double-digit declines.
Sep 2, 2010 - 5:57:53 AM
News
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Global Economy
Debt Default in Advanced Economies: IMF paper says default is unnecessary, undesirable, and unlikely
The IMF (International Monetary Fund) on Wednesday published three staff papers on the issue of public debt and the conclusion of a paper on default in advanced countries is that it is unnecessary, undesirable, and unlikely.
Sep 2, 2010 - 3:31:25 AM
News
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EU Economy
European Central Bank keeps its benchmark interest rate on hold at 1.0%
The European Central Bank (ECB) as expected kept its benchmark interest rate on hold at 1.0%, at a meeting of the governing council in Frankfurt, today. The ECB president, Jean-Claude Trichet, will address a press conference and he is expected confirm the continuation of emergency funding for Eurozone banks into 2011.
Sep 2, 2010 - 1:26:53 PM
News
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International
Thursday Newspaper Review - Irish Business News and International Stories - - September 02, 2010
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Sep 2, 2010 - 7:42:48 AM
News
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Irish Economy
Irish electricity price rise of 4.9% confirmed; Disconnections in 2010 surge to 10,678
The Commission for Energy Regulation (CER) on Wednesday confirmed a 4.9% hike in electricity prices as disconnections in 2010 surged to 10,678 customers.
Sep 2, 2010 - 5:30:09 AM
News
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Global Economy
Global Manufacturing activity eased to 9-month low in August as sector recovery slowed further
Global manufacturing PMI (Purchasing Managers' Index) data signalled that the recovery in production extended into its fifteenth consecutive month in August. However, there were further signs that the upturn in the sector was losing momentum, reflecting slower growth of new orders and a waning boost from inventory rebuilding.
Sep 2, 2010 - 1:39:05 AM
News
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US Economy
US manufacturing gathered strength and expanded for the 13th straight month in August; Private sector employment fell 10,000; Construction spending dipped to 10-year low
The US manufacturing sector gathered strength and expanded for the 13th straight month in August, according to an industry report released Wednesday.
Meanwhile, private sector employment decreased
by 10,000 from July to August on a seasonally adjusted basis and construction
spending fell in July to the lowest level in 10 years.
Sep 1, 2010 - 3:22:11 PM
News
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Irish Economy
Irish retail sales volume index fell by 0.2% in month of July; Motor trade only main category with year-on-year value increases
The volume of Irish retail sales (i.e. excluding price effects) decreased by 0.1% in July 2010 when compared with July 2009 and there was a monthly decrease of 0.2%. The motor trade was the only main category which showed year-on-year value increases.
Sep 1, 2010 - 11:33:39 AM
News
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Irish Economy
Irish Live Register total increased to 455,000 in August - - new all-time record for third straight month
The Irish Live Register total increased from 452,500 in July to 455,000 in August, an increase of 2,500 and a new all-time record for the third straight month.
Sep 1, 2010 - 11:17:03 AM
News
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Irish Economy
Data on Irish mortgage arrears show 36,438 households were in arrears for more than 90 days in June 2010
Data on Irish mortgage arrears show 36,438 households were in arrears for more than 90 days in June 2010.
Sep 1, 2010 - 11:02:11 AM
News
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Global Economy
Markets News Wednesday: Global foreign exchange daily turnover jumps 20% to $4trn - - London remains top fx centre; German retail sales dipped in July
Markets news on stocks, currencies and commodities; Global foreign exchange daily turnover jumps 20% to $4trn - - London remains top fx centre; German retail sales dipped in July.
Sep 1, 2010 - 10:48:31 AM
News
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EU Economy
Eurozone manufacturing slowed in August; Strong growth continued in Germany and France; Downturn in Greece deepened
The Markit Final Eurozone Manufacturing PMI (Purchasing Managers' Index) fell to a six-month low of 55.1 in August, down from 56.7 in July, but above the earlier flash estimate of 55.0. Although the PMI signalled a slight loss of growth momentum, the rate of expansion remained robust and faster than the survey average. Business conditions in the manufacturing sector have now improved in each of the past eleven months. Germany and France led the growth while rate of contraction in Greece grew sharper.
Sep 1, 2010 - 9:05:50 AM
News
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Irish Economy
Irish manufacturing growth eased further in August
Irish manufacturing growth eased further in August while operating conditions continued to strengthen during the month, the rate of improvement eased further. This was despite faster new business growth in August. Output increased, but at a weaker pace, while the rate of job cuts accelerated.
Sep 1, 2010 - 8:08:45 AM
News
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International
Wednesday Newspaper Review - Irish Business News and International Stories - - September 01, 2010
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Sep 1, 2010 - 6:52:01 AM
Asia Economy
China's manufacturing PMI hit three-month high in August; Indian manufacturing sector expanded for 17th successive month
China's manufacturing PMI (Purchasing Managers’ Index) hit three-month high in August, as both output and new business returned to growth. Meanwhile, Indian manufacturing sector expanded for 17th successive month.
Sep 1, 2010 - 6:05:54 AM
News
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US Economy
US economic forecast for second-half of 2010 revised down; Bank lending fell in Q2; This year US agriculture exports will be second-highest ever
The US economic forecast for the second-half of 2010 was revised down on Tuesday by economists at US investment bank Morgan Stanley. Also on Tuesday, bank lending was reported to have fallen in the second quarter (Q2) and this year, US agriculture exports will be the second-highest ever.
Sep 1, 2010 - 4:52:25 AM
News
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EU Economy
SEPA: Single Euro Payments Area; Smart Easy and Perfectly Adequate!
SEPA, the Single Euro Payments Area, may become operational in 2012 and will enable customers to make cashless euro payments to anyone located anywhere in Europe, using a single payment account and a single set of payment instruments.
Sep 1, 2010 - 3:06:11 AM
Analysis/Comment
Dr. Peter Morici: Jobs deficit lays bare failure of Obamanomics
Dr. Peter Morici: Jobs deficit lays bare failure of Obamanomics; With thousands of young college graduates moving in with parents and returning Iraq-war veterans facing long-term unemployment, President Obama is scrambling for cover. Irresponsible spending, largesse for big banks and subsidies for a broken health care system have busted the budget and failed to create jobs.
Sep 1, 2010 - 1:12:54 AM
News
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US Economy
US Consumer Confidence Index improved moderately in August
The US Conference Board Consumer Confidence Index which had declined in July, improved moderately in August. The Index now stands at 53.5 (1985=100), up from 51.0 in July. The Present Situation Index decreased to 24.9 from 26.4. The Expectations Index increased to 72.5 from 67.5 last month.
Aug 31, 2010 - 3:17:49 PM
News
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US Economy
US home prices rose strongly for the third-straight month in June; Year-to-year increases decelerated in June from May after 16 straight months of improving results
US home prices rose strongly for the third-straight month in June, pushing prices up 3.6% during the second quarter from a year earlier, according to the Standard & Poor’s Case-Shiller home-price indexes, due to the end of the government tax credit for homebuyers. However, the year-to-year increases decelerated in June from May after 16 straight months of improving results, "pointing to a possible deceleration in home price returns."
Aug 31, 2010 - 2:58:04 PM
News
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Irish Economy
Fall in Irish bank credit accelerated in July; Deposits by Irish resident private sector also fell.
The Central Bank reported today that the rate of fall in Irish lending / credit to households and business accelerated in July. Deposits by Irish resident private sector also fell.
Aug 31, 2010 - 1:49:33 PM
News
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Irish Economy
Anglo Irish Bank announces stunning loss of €8.2bn in H1 2010 - - sets ignominious record for half-year Irish corporate loss
State-owned Anglo Irish Bank today announced a stunning loss of €8.2bn loss in H1 2010. This compares with red ink of €4.1bn in the same period last year and the bank has set the ignominious record for an Irish corporate loss in a six-month period.
Aug 31, 2010 - 11:35:25 AM
News
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EU Economy
Eurozone annual inflation at 1.6% in August; Unemployment rate stable at 10% in July; Jobless rate down in 12 months in Austria, Germany and Malta
Eurozone annual inflation is expected to be 1.6% in August 2010 according to a flash estimate issued by Eurostat, the statistics office of the European Union. It was 1.7% in July. Meanwhile, Eurostat also reported that the Eurozone (EA16) seasonally-adjusted unemployment rate was 10.0% in July 2010, unchanged compared with June. It was 9.6% in July 2009. The EU27 unemployment rate was 9.6% in July 2010, unchanged compared with June. It was 9.1% in July 2009. Compared with July 2009, the jobless rate was down in Austria, Germany and Malta.
Aug 31, 2010 - 11:05:46 AM
News
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International
Markets News Tuesday: Eircom to address debt problem of €3.5bn; German jobless numbers falls for 14th straight month
Markets news on stocks, currencies and commodities; Eircom to address debt problem of €3.5bn; German jobless numbers falls for 14th straight month.
Aug 31, 2010 - 10:29:43 AM
News
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International
Tuesday Newspaper Review - Irish Business News and International Stories - - August 31, 2010
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Aug 31, 2010 - 7:49:29 AM
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