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Bank of England Reduces Bank Rate by 0.5 Percentage Points to 0.5%

added: 05-03-2009

The Bank of England’s Monetary Policy Committee voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 0.5%, and to undertake a programme of asset purchases of £75 billion financed by the issuance of central bank reserves.

EC Calls on EU Leaders to Stay United Against the Crisis, Move Fast on Financial Market Reform and Show Global Leadership at G20

added: 05-03-2009

The European Commission is calling on EU leaders to further step up coordinated European action to fight the economic crisis. In its communication to the European Council summit on 19-20 March, the Commission sets out proposals for building on the extensive support already being given to the real economy and to employment. The Commission's communication unveils a comprehensive reform of the financial system based on the de Larosière report. It shows how a clear and united commitment to this ambitious programme can pave the way for the EU to give a global lead at the G20 summit in London on 2 April.

International Automobile Dealers Announce Monthly Sales: February 2009

added: 05-03-2009

The American International Automobile Dealers Association released February 2009 sales figures for the international automobile industry. AIADA represents over 11,000 international franchises, which so far this year account for 56.5 percent of all vehicles sold in the United States. Overall sales, unadjusted for business days, were down 41 percent from February 2008.

More Small Businesses Report Decrease in Lines of Credit With Lenders

added: 05-03-2009

Small business owners and managers report that increasingly difficult access to credit and a decrease in current lines of credit are impacting their businesses, according to a nationwide Small Business Research Board (SBRB) study.

Lower Middle-Income Countries Most Vulnerable to Oil Price Increases, says World Bank Study

added: 05-03-2009

Lower middle-income countries were found over a 10-year period to be more dependent on oil imports than low-income countries, making them more vulnerable to global oil price increases, according to a new study released by the World Bank’s Oil, Gas, and Mining Policy Division.

Independent Advisors Split Over Road to Recovery

added: 05-03-2009

Independent investment advisors are divided on the long-term prospects for the U.S. economy and its impact on client portfolios, according to the latest Charles Schwab study of independent Registered Investment Advisors (RIAs). Forty-four percent expect the current recession to end in 2009, while 41 percent believe the recession will extend into 2010.

$5 Billion in Political Contributions Bought Wall Street Freedom From Regulation

added: 05-03-2009

The financial sector invested more than $5 billion in political influence purchasing in Washington over the past decade, with as many as 3,000 lobbyists winning deregulatory decisions that led to the current financial collapse, according to a 231-page report issued by Essential Information and the Consumer Education Foundation.

China's Mobile Phone Market in 2008 and Outlook for 2009

added: 05-03-2009

CCID Consulting released its report on China's mobile phone market. Mobile phone products were heavily influenced by the global economic downturn in 2008H2. The lack of innovative products and as consumer delaying purchase on the look out for 3G products, sales volume was weak. CCID Consulting reports that the sales volume in 2008 reached 161 million sets, lower than 185 million sets as estimated at the beginning of 2008. The market development slowed down.

In December, Foreclosure Sales Drove Transactions Up, Prices Down

added: 05-03-2009

In December 2008, improvements in home affordability and low mortgage rates contributed to a 7% year-over-year increase in home sales in the 25 metropolitan statistical areas (MSAs) tracked by Radar Logic Incorporated. According to the December 2008 RPXTM Monthly Housing Market Report, transactions increased in 14 of the 25 MSAs, with the largest increase in metropolitan areas where sales of foreclosed homes constitute a significant share of total transactions, particularly Las Vegas, Phoenix and the five California MSAs covered by the report.

China Property Market Remains Prudent, says RICS Global Commercial Property Survey Q4 2008

added: 05-03-2009

Collapsing oil prices have pulled oil rich countries into the global property malaise with capital values falling in emerging nations for the first time in the survey's history, says RICS Global Property Survey.

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