GenevaLunch » recession

S&P cuts Spain’s credit rating

Paula Dupraz — Fri, 27 Apr 2012 08:51:10 +0000

GenevaLunch.com GENEVA, SWITZERLAND – Standard & Poor’s dropped Spain’s credit rating by two notches to BBB-plus on expectations that the country’s finances will continue to retract due to a prolonged recession and an ailing banking sector. European stock markets opened lower on Friday morning 27 April following the US rating agency’s announcement that it expects the [...]

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Swiss franc weakens on CPI news, central bankers’ words

Ellen Wallace — Mon, 07 Nov 2011 19:18:02 +0000

GenevaLunch.com ZURICH, SWITZERLAND – The Swiss franc weakened in trading Monday, to $.90 after earlier trading at $.88. It was also weaker against the euro, at 1.24, but with the day’s low at 1.22. Philipp Hildebrand, Swiss National Bank chairman, told Swiss German papers over the weekend that the bank will continue to push the franc [...]

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Swiss central bank says franc cap keeping recession at bay

Ellen Wallace — Thu, 15 Sep 2011 13:00:25 +0000

GenevaLunch.com ZURICH, SWITZERLAND – The Swiss franc’s cap against the euro will be protected “with utmost determination”, the Swiss National Bank said Thursday 15 September, repeating its earlier stance that it is prepared to “buy foreign currency in unlimited quantities” to get the exchange rate of the “massively overvalued” franc back to more appropriate levels. The [...]

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Japan now officially in recession

Ellen Wallace — Thu, 19 May 2011 05:36:12 +0000

GenevaLunch.com GENEVA, SWITZERLAND – Figures issued Thursday 19 May by the Japanese government show that after struggling in the post-earthquake weeks, the country’s economy has now slipped officially into recession, often defined by economists as two quarters running of falling GDP. Real GDP (gross domestic product) was down 0.9 percent for the first quarter, or 3.7 [...]

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Irish economy eases out of Europe’s deepest national recession

Ellen Wallace — Wed, 30 Jun 2010 14:43:27 +0000

GenevaLunch.com Ireland’s economy is now expected to grow by at least 1 percent this year, following the good news Wednesday 30 June that the country is moving out of recession: after eight quarters of negative GDP growth, the country saw growth of 2.7 percent in the first quarter. Over the past two years Ireland’s GDP has [...]

Irish economy eases out of Europe’s deepest national recession © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UK’s Gordon Brown warns of double-dip recession

Ellen Wallace — Fri, 23 Apr 2010 12:31:53 +0000

GenevaLunch.com GDP figures posted for the UK Friday morning were 0.2 percent growth, half the 0.4 percent figure widely predicted, and British Prime Minister Gordon Brown warned of the possibility of a double-dip recession, with the country not long out of its 2009 recession. links to other sites: Guardian, Times

UK’s Gordon Brown warns of double-dip recession © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UK housing prices holding steady

Ellen Wallace — Fri, 26 Feb 2010 10:19:23 +0000

GenevaLunch.com Housing prices rose in Great Britain in January 2010 for the first time in 10 months, but early reports for February show some slippage, down 1.4 percent over January. Prices are nevertheless 9.2 percent higher than in February 2009. The housing price news is accompanied revised figures published 25 February by the government that show [...]

Switzerland’s recession is over

Ellen Wallace — Tue, 01 Dec 2009 10:04:01 +0000

GenevaLunch.com Update 11:40 Bern, Switzerland (GenevaLunch) – Switzerland officially moved out of recession in the third quarter of 2009, Bern announced Tuesday 1 December. Real GDP (gross domestic product) was up 0.3 percent compared to the previous quarter. Private consumption (+0.6 percent) and building investments both grew, and healthcare plus the financial and insurance industries also [...]

US jobless hits 10.2 percent, highest in 26 years

Sean Ecker — Fri, 06 Nov 2009 15:30:34 +0000

GenevaLunch.com The US Labor Department released figures for unemployment 6 November that showed that the economy shed 190,000 jobs in October, bringing the unemployment rate to 10.2 percent of the workforce, its highest level since 1983. Hopes had been higher yesterday 5 November that the jobs market may be recovering , when the Labor Deptartment showed [...]

US jobless hits 10.2 percent, highest in 26 years © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Asian stocks gain, S Korea imports up, UK recession news worse than expected

Ellen Wallace — Mon, 26 Oct 2009 04:32:09 +0000

GenevaLunch.com Asian stocks rose Monday 26 October on news that Toyota had made an “unexpected profit” and South Korea posted the best growth figures for its economy in seven years, reports Bloomberg. The global economic picture remains mixed, with the UK Monday posting figures for July-September 2009 that show the recession on a par with that [...]

Asian stocks gain, S Korea imports up, UK recession news worse than expected © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.