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Euro Area GDP Down by 0.2% and EU27 GDP Stable

added: 09-10-2008

Euro area (EA15) GDP declined by 0.2% and EU27 GDP was unchanged in the second quarter of 2008 compared with the previous quarter, according to second estimates from Eurostat, the Statistical Office of the European Communities. In the first quarter of 2008, growth rates were +0.7% in the euro area and +0.6% in the EU27.

First Priority is to Restore Confidence Say European Banks

added: 09-10-2008

On the occasion of the Ecofin meeting, the European Banking Federation reiterated its call for increased cooperation and further coordinated action among Member States in order to help settle financial markets and calm the current financial crisis.

The Leading Index for Japan Decreased in August 2008

added: 09-10-2008

The Conference Board reports that both the leading and coincident indexes for Japan decreased 0.6 percent in August.

Better Financial Supervision Of The European Insurance Industry

added: 08-10-2008

The Economic and Monetary Affairs Committee backed plans for a major overhaul of the supervisory framework that enhances the financial stability of the insurance industry on Tuesday when it adopted its first-reading position on the Solvency II directive. MEPs voted to make significant changes to the Commission’s proposal in areas such as group supervision and the calculation of capital requirements.

Who's Going To Bailout Small Business?

added: 08-10-2008

It's not just big business in the U.S. that is requiring a bailout. There are more than 30 million small businesses across America being negatively impacted by current economic conditions. Access to credit is drying up. Loans backed by the U.S. Small Business Administration (SBA) have decreased by 30%. Declining home values are contributing to declining collateral values, which mean that entrepreneurs have less to offer banks as backup for a loan.

Awareness and Use of Mobile Banking Low, But Poised to Grow

added: 08-10-2008

The use of cell phones to conduct banking activities such as balance inquiries, bill payment and funds transfers is still a relatively new capability for many banks. Not surprisingly, then, awareness and usage of mobile banking services are just beginning to build among banking customers.

New Experian Research Highlights Shifting Consumer Delinquency Trends

added: 08-10-2008

Experian announced the results of a study that analyzed delinquency trends across consumer risk segments to uncover the shifting patterns in consumer payment behavior and the geographies most affected. The changing delinquency trends highlight the severe affect of the mortgage crisis on subprime consumers and its continuing permeation into the prime consumer segment.

Fine Member States That Fail To Meet National Emission Reduction Targets, Says Environment Committee

added: 08-10-2008

Member States should face strict fines and sanctions if they fail to meet national reduction targets for greenhouse gas emissions from sources that are not covered by the EU Emissions Trading System - e.g. road and sea transport, buildings, services, and farming - says the EP Environment Committee.

US Job Openings and Labor Turnover in August 2008

added: 08-10-2008

On the last business day of August, there were 3.3 million job openings in the United States, and the job openings rate was 2.3 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported.

Growing US Trade Deficit is Worsening Financial Crisis

added: 08-10-2008

With global fears of recession growing stronger and stock prices plummeting worldwide, a new ad in today's New York Times calls for a fix to the global trade imbalance that is accelerating the collapse of the world economy. The ad, sponsored by the Institute for America's Future features the image of a noose and says, "even the rope we're hanging ourselves with is made in China."

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