The European Central Bank on Sunday released the long-awaited results of its stress test.
The test, conducted on 130 euro area lenders, requires banks to have common equity tier one ratios of more than 5.5 per cent even under a “adverse scenario” of falling economic output, rising unemployment and declining house prices.
The stress test found 25 banks had capital shortfalls under the adverse scenario applied to banks’ balance sheets as of the end of 2013. However, that number fell to 13 once capital raised by the banks in 2014 was taken into account.
This sortable table shows a summary of the results of the stress test, including any shortfall after net capital raised since December 2013 is taken into account.
Subscription revenues for video on demand services like Netflix are set to grow by nearly 30 per cent during 2014 but will still account for only 2 per cent of the total market for pay television. North America and Europe currently lead by market share with growth of 29 and 19 per cent respectively this year, but in emerging regions where on demand is more novel growth will exceed 50 per cent in 2014.
The amount of meat produced worldwide quadrupled in the 50 years before 2011. In per capita terms this means it almost doubled in the same period, in 2011 enough meat was produced for each person to have 42.2kg a year. The rise in global meat production coincides with the growth in productivity and income and highlights the pressure that the demands of that growth places on natural resources.
Even before the dispute with Russia began battering their economy, hundreds of thousands of Ukrainians fled their country looking for a better life elsewhere. Ukrainians are now the largest group of migrants from non-European Union countries applying for residence in the bloc.
Eurostat said on Wednesday that the number of Ukrainians issued with EU residence permits rose by 48 per cent in 2013. Most Ukrainians moved to Poland looking for work. In total 236,691 permits were granted to Ukrainians, which means that the country has overtaken the US as the most common source country for migrants to the EU — India has also overtaken the US to take second place.
What to do about British manufacturing? There is hardly a politician in the country who hasn’t called for the sector to get a boost. But the Office for National Statistics is set to stress today that popular perceptions manufacturing is disappearing from the UK are wide of the mark.
New analysis, to be presented by ONS chief economist Joe Grice at a conference on the changing shape of manufacturing, will focus on the sector’s move up the value chain despite an unquestioned reduction in employee numbers.
Between them Barcelona’s Lionel Messi and Real Madrid’s Cristiano Ronaldo have scored more than 300 league goals in the last four seasons of Spain’s La Liga, but which player provides more goals for their team?