Breaking Economic News
Market overview: Shares down as Greek bond yields move higher
1630:Close Stocks ended the day sharply lower after Greek bond yields turned higher, ending the day up by 63 basis points at 11. 69%. Anglo American was the biggest faller on the last day of the first quarter, alongside shares of British American Tobacco and Imperial Tobacco. The latter came off on fears the US FTC would block a merger between US companies Reynolds American and Lorillard – although some analysts believe those worries may be somewhat exaggerated.
Iraqi forces reclaim Tikrit government HQ from Islamic State
Iraqi security forces have recaptured the city of Tikrit, according to Iraqi state media, representing the largest military move against Islamic State (IS) since territories in the country were seized last summer.
'Strong' case for June rate hike, says Fed's Lacker
The president of the Richmond Federal Reserve, Jeffrey Lacker, said there was a “strong” case for the Fed to raise interest rates as early as June.
Fitch Ratings reaffirms China’s long-term sovereign debt rating
Ratings agency Fitch has reaffirmed the People’s Republic of China’s long-term sovereign debt rating at A+, with a stable outlook.
UK current account deficit in 2014 highest since 1948
The UK’s deficit in current transaction with the rest of the world shrank in the final stretch of 2014, albeit by less than forecast.
Eurozone core consumer prices miss forecasts in March
Core consumer prices in the single currency area rose by less than expected in February.
A suprise upward revision for UK growth in the fourth quarter of 2014
Economic growth in the UK for the fourth quarter of 2014 was revised higher on Tuesday, indicating the country’s prospects at the tail-end of last year were better than previously thought.
Russia and China break ranks, disagree on Iran sanctions, report claims
The Russian Federation and the People's Republic of China disagree on the sanctions being imposed on the Islamic Republic of Iran, according to Interfax, citing media sources.
UK consumer confidence jumped in March, GfK says
UK consumers’ spirits soared in February on the back of improved perceptions of the economy’s recent performance, the results of a widely followed survey revealed.
Speculation surfaces Saudi Arabia might deploy ground forces in Yemen
Following Saudi Arabia’s use overnight of airstrikes against Houthi rebels in neighbouring Yemen a source from the Middle Eastern Kingdom has reportedly told Reuters that a ground offensive may be now be necessary.
UK CPI rises by 0.3% in February, remains unchanged year-on-year
Inflation in the UK fell to zero in February, as lower food prices and computer goods left consumer prices unchanged from the previous year for the first time since record began.
Oil drops on weak Chinese manufacturing PMI data
Oil benchmarks slid in early Asian trading on Tuesday following weak manufacturing data from China.
Osborne close to meeting targets after February borrowing data
Public sector net borrowing decreased in February as tax receipts from high-earners bonuses finally materialised, bringing the Chancellor closer to meeting his fiscal targets.
UK unemployment rate unchanged at 5.7% in January, earnings fall
The unemployment rate in Britain remained stuck at 5. 7% over the three months to January, while earnings growth slowed, according to the Office for National Statistics (ONS), sending the pound immediately lower.
BoE voted unanimously to keep policy unchanged, minutes reveal
The Bank of England (BoE) voted unanimously to maintain interest rates at 0. 5% and its asset purchase programme at £375bn, minutes of the central bank's 4-5 March meeting revealed.
ECB to raise funding for Greek banks, QE to kick off 9 March
The European Central Bank (ECB) has raised emergency liquidity assistance for Greece by €500m and announced that it has removed the waiver on purchases of the nation's debt.
Eurozone deflation eases more than expected
Eurozone consumer prices fell 0. 3% in February, beating analysts' estimates for a 0. 5% decline, and recovering from the previous month's 0. 6% drop.