UK Unemployment Falls
The latest unemployment figures released by the UK government, show a drop of 161,000 in the three months to April, with the total now at 2.16 million or 6.6%.
Don’t Dodge Spending Says Former Canadian Bank Chief
A former governor of the Bank of Canada, David Dodge, says that governments shouldn’t be preoccupied with cutting spending to balance the budget.
US Mortgage Applications Rise
The Mortgage Bankers Association have reported a rise of just over 10% in the number of mortgage applications.
Europe Investigates Tax Breaks for US Giants
Large multinationals, many of which are US companies, receive some favourable tax advantages in the European Union, but an inquiry is now looking into these arrangements to ensure that they are applied fairly and correctly.
Asian Markets React to World Bank Forecast
Asian markets were mostly down on Wednesday due to the World Bank’s downgrade of predicted growth; however the recent jobs news from the US and China’s export growth meant that loses were contained.
World Bank Cuts Global Forecast
The World Bank has revised its forecast for the global economy from 3.2% in January to 2.8% based on the slow start to the year.
Finance Executives Worried by Overheating Housing Market
A survey by the Bank of England shows that a large percentage of financial executives are concerned by the overheating housing market in the UK, with 40% saying that falling house prices is the greatest risk to stability.
Canada’s Finance Minister Says Provinces Must Stay Focus
Addressing an international conference, Canada’s finance minister Joe Oliver said yesterday that provinces must not take their focus off their budgets.
Morning Market Newswire: Global Private Wealth Now $152 Trillion | China’s Inflation Boosts Shares
Global private wealth increases with China leading the growth…. Obama extends debt relief for students…. Canada’s finance minister calls for focus on balanced budgets …. And the UK’s hot housing market causes concern for finance executives….
US Companies See UK As A Tax Haven
The UK’s corporation tax rate has seen a dramatic fall in recent years.