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Economic News Page 61

world map

Economic data show world economy clearly growing solidly

The first economic data for May show the world economy is maintaining solid levels of growth in the US, Asia and Africa, reports World Economics.

Brian Bollen
Connected Europe

European private equity fundraising hits eight-year high

European private equity fundraising hits eight-year high, a 37% year-on-year increase

Brian Bollen
head of venture capital products at Preqin

Venture capital industry passes half a trillion dollars

The global venture capital industry is expanding at an accelerating pace. Total assets under management reached US$524bn as of June 2016, the latest data available.

Brian Bollen
Bank of England governor Mark Carney

Bank of England lifts inflation forecasts but cautious on growth

The Bank of England lifts its forecasts for consumer prices, but higher inflation is expected to come at the expense of lower growth as UK households feel the pinch

Neil Dennis
Bank of England governor Mark Carney

Bank of England keeps interest rate at 0.25%

The Bank of England kept the UK's base rate of interest at 0.25% today, focusing less on rising inflation and rather reflecting its commitment to help sustain growth

Neil Dennis
Shareholder value

Standard Life and Aberdeen unveil plans to cut 800 jobs

Standard Life and Aberdeen are limbering up to cut approximately 800 roles from the total global headcount of the combined group as at 31 December 2016.

Brian Bollen
inflationary pressures

UK to feel the pinch of higher inflation

Workers in the UK will see their earnings squeezed this year as inflation rises to 3.4% while wage growth stalls, according to the latest forecasts from the National Institute of Economic and Social Research (NIESR)

Neil Dennis
Europe's largest economy

German growth continues as factory orders rise

Growth in Europe's largest economy appears to be picking up speed after German factory orders expanded for a second month

Neil Dennis
Macron victory

Macron victory signals stability – for now

Success for Emmanuel Macron over Marine Le Pen in the second round of France's presidential election signals stability, for now, according to Kenneth Orchard, global fixed income portfolio manager at T Rowe Price, a US global asset management firm.

Brian Bollen
International bond market

International bond market association selects new chairman

The International Capital Market Association (ICMA) has a new chairman and new board members. They were voted in by members of the global trade association for cross-border bond markets at its annual general meeting in Luxembourg this week.

Brian Bollen
US jobs growth

US jobs growth beats forecasts in April

An unexpectedly large rebound in US jobs growth in April did little to lift markets as uncertainty over interest rates dominated investor behaviour. Data from the US Bureau of Labor Statistics showed that 211,000 jobs were created in April, up from March's disappointing 79,000 and beating analysts' expectations of around 190,000.

Neil Dennis
Biggest French banks

Biggest French banks report positive first quarter figures

France's two biggest banks have this week unveiled figures that suggest their underlying business is fundamentally sound, even as concerns grow about the potential impact the result of the French election could have on the sector in the country.

Brian Bollen
UK service sector growth

UK service sector growth completes trio of strong PMIs

Sterling climbed and the FTSE 100 rallied after the UK's dominant services sector outperformed expectations in April. The purchasing managers' index for the service sector – which represents nearly 80% of the UK's business output – rose to 55.8 in April, up from 55 in March and beating expectations of a dip back to 54.5. An index reading above 50 indicates expanding business activity.

Neil Dennis
Eurozone economy

Eurozone economy expands 0.5% in the first quarter

Economic growth in the countries that share the euro rose by 0.5% in the first quarter of 2017, according to gross domestic product data from eurostat. This robust start to the year matched the rate of growth seen in the final quarter of 2016, and beat the 0.4% growth seen across the wider European Union.

Neil Dennis
Euro and sterling

Euro and sterling gain as havens weaken

Japan's yen fell to a month low against the US dollar while the euro gained against both the dollar and the yen as haven currencies were hit by a fresh wave of risk appetite. The yen fell to the Y112 against the dollar and hit its weakest level of Y122.63 against the euro since mid March.

Neil Dennis