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Americans Positive about Personal Financial Future, Unsure about National Economic Outlook

added: 03-12-2008

Americans are significantly more optimistic about their personal financial future than they are about the economic direction of the country, according to a new study released by Allianz Life Insurance Company of North America (Allianz).

Fitch: Latvia Needs Substantial International Support to Stabilise Economy

added: 03-12-2008

Fitch Ratings says in a new report that Latvia could need a EUR5bn financing package from the IMF, EU and other international lenders to stabilise its economy and forestall growing risks of a severe economic and financial crisis.

Budget 2009: Budgets Committee Backs Deal with Council but Restates EP Priorities

added: 03-12-2008

Parliament's Budgets Committee voted on Tuesday at second reading on the draft EU budget for 2009. MEPs endorsed the agreement concluded with the Council on the level of payments (€116.1 billion) while increasing some expenditure on the EP's priorities (growth, cohesion, employment) above the level of the preliminary draft budget. The agreement on the "food facility" for developing countries was also approved.

Mortgage Markets: Commission Study Shows Varying National Approach to Regulation of 'Non-Credit' Institutions

added: 03-12-2008

The European Commission has published a study on the activities, regulation and supervision of mortgage lenders that are not registered as "credit institutions" under domestic law. It shows that in the majority of Member States, lenders operating outside the EU legal framework for credit institutions are regulated and supervised by national authorities, and that their national market share is small compared with that of fully-fledged credit institutions.

Fitch: European Utilities Face Weaker Interest Cover Ratios

added: 03-12-2008

Fitch Ratings says that increased spreads on bond issues recently placed by European utilities will negatively impact interest coverage ratios. However, the negative consequences of increased borrowing costs will be partially mitigated by a "portfolio effect", as a number of utilities have large portfolios of outstanding bonds spread across different maturities, many of which were issued at a time when pricing was substantially lower than in current market conditions.

Mortgage Rates Drop to Lowest Level This Year

added: 03-12-2008

Mortgage rates fell dramatically last week, due to the government's decision to purchase mortgage-backed securities. Rates for 30-year fixed mortgages declined to 5.53 percent, down from 5.92 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.

One-Third of Americans Believe Their Household’s Financial Condition will be Worse

added: 03-12-2008

While the outgoing and incoming presidential administrations try to hammer out various economic deals and stimulus packages, Americans are suffering through some very bad economic times.

EC Steps Up Pressure On Airlines To Ensure Websites Selling Tickets Fully Comply With EU Law

added: 03-12-2008

On the eve of a meeting of 27 national enforcement agencies and stakeholder groups in Brussels, Vice President Tajani, EU Transport Commissioner and EU Consumer Commissioner Meglena Kuneva have stepped up pressure on airline companies selling tickets on the web to meet their legal obligation to fully comply with all the requirements of EU law.

EU: Nearly 30% of Individuals Use Internet Banking

added: 02-12-2008

In the EU27, 60% of households had access to the internet during the first quarter of 2008, compared with 54% during the first quarter of 2007, and 48% had a broadband internet connection, compared with 42% in 2007.

Industrial Producer Prices Down by 0.8% in Euro Area in October 2008

added: 02-12-2008

In October 2008 compared with September 2008, the industrial producer price index fell by 0.8% in the euro area (EA15) and by 1.4% in the EU27. In September, prices decreased by 0.3% and 0.4% respectively.

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