The ECB November monthly bulletin in combination with negative economic news (e.g. larger than expected fall in 3Q German GDP and downward revision of the growth and inflation forecasts by the IMF and the OECD) suggests a rate cut by more than 50bp according to Citibank economists in a report published on November 13. For
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Commission allows sale of ‘wonky’ fruit and veg Rules governing the size and shape of fruit and vegetables will be consigned to history after European Union member states voted on Commission proposals to repeal specific marketing standards for 26 types of fruit and vegetables. The Commission's initiative to get rid of these standards is a
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The United States may need to insure wholesale deposits to ease the credit crisis and restore confidence because the collapse of Lehman Brothers has damaged trust among institutional investors, Barclays said. "What happened in September was the wholesale equivalent of an old fashioned bank run," Laurence Kantor, head of global research at Barclays Capital, told
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Germany has fallen into recession and China industry output growth dropped to its lowest in seven years, data showed on Thursday, reinforcing fears the financial crisis is plunging the world into a painful downturn. The impact of the worst financial conditions in 80 years was felt sharply in Germany, Europe's largest economy, where the economy
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The second call for proposals under the EU Grant Scheme “Making the Labour Market more inclusive” will give grants of between EUR10.000 and EUR 50.000 to enterprises, career counselling and training institutions dealing with (re)training of workers, employees and the unemployed, employers’ networks and/or Chambers. Overall, up to EUR 750.000 will be available. The grants
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The U.S. government's $700 bln bailout fund is unlikely to be enough, with the financial system needing more than $1 trillion to get through the crisis, two of Wall Street's top dealmakers said. The global crisis appears to have passed its most intense phase, seen around the time of the collapse of Lehman Brothers Holdings
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Chip giant Intel Corp cut its fourth-quarter revenue forecast by about 14 percent citing weak demand across the world and in all its products, indicating the economic crisis is set to hurt computer sales in the holiday season and beyond. The impact of Intel's warning was exacerbated by weak outlooks from two other chip industry
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Japan is ready to offer up to $100 billion to the International Monetary Fund to assist emerging economies, a Japanese government source said on Thursday, ahead of a global summit on the financial crisis this week. Prime Minister Taro Aso will make the proposal when leaders of the Group of 20 industrialised and emerging nations
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Asian shares fell on Thursday to their lowest this month on uncertainty about the U.S. Treasury's banking rescue plan and signs the global financial crisis biting deeper in Asia. Japan's Mizuho Financial Group said it plans to raise fresh capital, while Commonwealth Bank of Australia warned it expected a big jump in bad loans. The
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The Cyprus problem remains a very difficult issue and is an obstacle in Turkey’s accession to the EU, said Bernard Kouchner, the French Minister of Foreign and European Affairs. Kouchner made the statement while answering questions at the Brookings Institution in Washington following an address on the new U.S. administration and the future of transatlantic
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