Many eurozone citizens have never seen a €500 note, yet they account for 30 per cent of the value of notes in issue. Fears are rising on the convenience of the notes for criminals and the ease of hoarding cash in a climate of negative rates.
The Bank of Japan’s move to negative interest rates last week- after Switzerland, Sweden, Denmark and the eurozone- means nations making up almost a quarter of world output now have a central bank with a negative policy rate.
There are estimated to be 39m more males than females in China, some 25m of whom are aged under 20. The sex ratio at birth has averaged 117 males per 100 females since 2000, compared with the biological norm of 105.
The renminbi was this week accepted by the IMF into the basket of elite currencies used to calculate the fund’s reserve asset, the Special Drawing Right. Although largely symbolic, the move reflects China’s progress towards full integration with the global financial system.
Global energy is expected to shift further toward China and, especially, India in the next quarter century, according to the latest forecasts. By 2040 India’s demand should approach that of the US.
Relations between China and Taiwan seem to be thawing, as their respective leaders met over the weekend. Both countries have seen periods of very rapid economic growth since the Chinese civil war ended in 1949 – Taiwan in the 1970s, China in the years after 2000 Read more
E-commerce has become an important source of revenue for EU companies, accounting for 15 per cent of turnover during 2013, according to Eurostat. The experience varies greatly between countries – Ireland leads with 52 per cent of turnover conducted over computer networks
Spain and Greece have the highest proportion of young people without jobs in the EU — more than 48 per cent in both countries. But the situation is improving in Spain, where more than 100,000 youngsters have found work in the past year.
Did you receive the press release? Were you offered an exclusive interview? Are you upping your journey down the engagement funnel?
Well, brace yourself – because the ranks of public relations professionals are growing. The latest figures from the Office for National Statistics suggest that there may soon be more PRs than journalists in the UK. Read more
Markets expect an interest rate rise in the US and UK in the coming months. The Federal Reserve and the Bank of England see faster wage growth as a precondition for a rate rise. While earnings growth has been accelerating in the UK it remains flat in the US
Prospects for economic growth in big eastern European economies that are EU members have not been affected by the political problems in Russia and the Ukraine, according to Consensus Economics. The Czech Republic, Hungary, Poland and Romania are all set to grow by more than 2.5 per cent this year.
Australia’s trade ties are dominated by Asian countries, which account for more than 80 per cent of merchandise exports. Fifty years ago a third of exports went to Europe, with a quarter to the UK alone. The product mix has shifted from agricultural produce to minerals and fuel.
London dominates the UK economy to an extent not seen on other large EU nations, accounting for over a fifth of UK GDP, compared with Berlin’s 5 per cent of German national income.
George Osborne, the chancellor, presents his second Budget of the year today. Post-election Budgets since 1992 have all included taxes rises. Only in 2009, after the financial crisis, have taxes risen substantially in the middle, rather than at the beginning, of a parliament.
Analysts now expect another recession in Greece. Earlier this year analysts were forecasting a recovery in 2015, after a 26 per cent contraction in gross domestic product in the six years from 2008-2013
The impact of the shale revolution saw the US overtake Saudi Arabia and Russia to become the world’s leading producer of oil- for the first time since 1975. US output also passed its previous peak, set in 1970
Global food prices have been trending downwards and are at their lowest since late 2009, according to the UN food and Agriculture Organization. Prices are down 20 per cent on a year ago, with cereals and dairy responsible for most of the fall
In 1985 all sovereign bond issues rated by Moody’s were investment grade. Since then riskier emerging markets have gained access to debt markets and some advanced economies have been downgraded following the global crisis
People in the UK are more likely to support a third party rather than vote Conservative or Labour in the general election next May, say pollsters YouGov. Supp0ort for Ukip and the Scottish National party has risen sharply.
Chancellor George Osborne presents his latest take on the UK’s finances on Wednesday. The share of government debt in national income is at its highest since the late 1960s, but Bank of England estimates back to the 19th century show that the debt share has usually been higher.