U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday. Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month
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Britain's top share index was up 0.5 percent approaching midday on Thursday with gains in banks and pharma issues, driven by broker upgrades, countering weakness in heavyweight oils and miners. At 1034 GMT, the FTSE 100 index was up 20.24 points at 4,456.99, having closed up 31.96 points, or 0.7 percent, at 4,436.75 in the
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Britain's Treasury Minister Liam Byrne warned on Thursday of tough times ahead for public spending, with economic recession, rising unemployment and high levels of government debt biting hard. A row over public spending blew up this week after Andrew Lansley, health spokesman for the opposition Conservatives, said 10 percent spending cuts would be needed in
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Home Retail Group Plc, Britain's biggest household goods retailer, said it remained cautious on Thursday despite posting better than expected first-quarter sales and market share gains at both its Argos and Homebase businesses. The group said the first-quarter outcome reflected strong sales of outdoor products such as barbecues, cycles, camping and garden equipment, that were
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The Financial and Capital Market Commission (“FCMC”) of Latvia and the Central Bank of Cyprus, expressing their mutual interest and willingness in promoting further the bilateral ties in the domain of supervision of credit institutions, have recently proceeded with the updating of the Memorandum of Understanding which was signed between them in 2003, before their
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President of the Republic of Cyprus Demetris Christofias said on Thursday that he expected good news soon regarding the opening of a crossing point in Limnitis. Speaking after his 32nd meeting with Turkish Cypriot leader Mehmet Ali Talat, in the context of direct talks to solve the Cyprus problem, President Christofias said ''we had a
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Oil firmed to $72 a barrel on Thursday after the International Energy Agency raised its estimate for 2009 oil demand, adding to signs the fall in consumption may have bottomed out. World oil demand will contract by less than previously expected this year, the International Energy Agency said as it raised its 2009 forecast for
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European stocks were up at midday on Thursday, with banks bolstered by investor optimism over prospects for economic recovery but markets awaited U.S. economic data due later in the session. At 1008 GMT the FTSEurofirst 300 index of top European shares was up 0.6 percent at 885.11 points, having closed 1.2 percent higher on Wednesday.
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British inflation expectations for the coming year rose to 2.4 percent in May from 2.1 percent in February, a Bank of England survey showed on Thursday, the first rise since August. The BoE/GfK NOP Inflation Attitudes Survey also showed Britons think the current rate of inflation fell to 4.0 percent last month from a perceived
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Britain's leading share index was flat in early trade on Thursday with weakness in heavyweight oils and miners balanced by gains in pharma issues supported by a Morgan Stanley sector upgrade. At 0804 GMT, the FTSE 100 index was 1.53 points, or 0.1 percent, lower at 4,435.22, having closed up 31.96 points, or 0.7 percent,
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