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
The most popular water park in the world is in Guangzhou, China. In 2013 its visitors numbers surpass those of Disney’s Typhoon Lagoon in Orlando, Florida. However four of the worlds top-ten water parks are located in the US city.
Finland’s economy has been contracting uninterruptedly since the start of 2012, excluding a brief mild expansion in the last quarter of 2013. No other Northern European country has had such a poor performance in the last three years.
Finland’s GDP in the first quarter this year was 3.4 per cent smaller than at the start of 2012. Over the same period Sweden expanded by 5.6 per cent and Norway by 4.1 per cent. Read more
The UK unemployment-to-job vacancy ratio has fallen to 2.5, the lowest since 2008 before the financial crisis. With fewer available workers to fill jobs, wage growth has begun to pick up
Spain’s GDP per capita is set to overtake that of Italy later this year, according to Oxford Economics. Spanish output per head was around 70 per cent of the Italian level during the 1980s, but the gap has been narrowing due to sluggish Italian economic growth. The speed of convergence has increased since the global financial crisis.
Global banks have paid $162.2bn in fines and legal settlements with US regulators since the financial crisis, data compiled by FT reporters shows.
Update, July 22, 2015: The Consumer Financial Protection Bureau and Office of the Comptroller of the Currency have handed down a $770m penalty against Citigroup for deceptively marketing and billing consumers for identify theft protection products. Read more
More than half of the US population is very concerned with cyber-attacks on governments, banks or corporations, more than the population of any of the 40 countries surveyed by Pew Research, in China the number is only one in ten.
The IMF this week updated its outlook for growth in 2015; world output has been revised down by 0.7 % points, with Russia, Brazil and the Middle East seeing the largest downward revisions from last years forecast. Spain is now expected to grow by 3.1 per cent, more than double the rate that was predicted previously.
The Greek debt ratio has exploded since the crisis to reach 177 per cent of GDP in 2014, up from 126 per cent of GDP in 2009 or 102 per cent of GDP in 2007. But a rise in the ratio of debt to GDP is caused by two components, namely the trend of nominal debt and the trend of nominal GDP. In the case of latest Greek debt ratio rise, it was not due to a rapid rise in debt levels but the sharp decline in GDP.
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.
People in the EU hold a more upbeat view of robots than they did three years ago, with 70 per cent of those polled seeing them as positive, up from 64 per cent. Men, managers and the better educated were also more likely to have a positive view.
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
British strawberry production is set to hit a record this year. Industry body British Summer Fruits expects output from its members to hit 76,000 tonnes, up 19 per cent from a record harvest of 64,000 tonnes in 2014.
Bank chief executives’ pay has rarely been out of the news in the six years that Equilar and the Financial Times have been publishing this annual analysis. While the pay of almost all the bank bosses in the study increased in 2014, it remains well below pre-crisis levels and is likely to remain so.
European banks’ share of investment banking fees is at an all time low. Advisers have earned 29 per cent o the total global fee pool so far this year, down from 32 per cent in 2014, marking the lowest fee share since records began in 2000.
Expected years in retirement have been rising in advanced countries. Men who retired in 2012 should have 18 years, slightly up from 2000. People have been retiring later, but life expectancy has risen as well
More than half of asylum applications in the EU were in Germany and Hungary in the first quarter this year. The number rose nearly 30 per cent compared with the previous quarter with Kosovans being the main nationality in both countries.
On the 21st of June, the UK Department of Health announced that from September 2015 babies aged over 2 months will be offered the MenB vaccine, which protects against meningococcal B disease. The MenB programme means that England is the first country in the world to begin national and publicly funded Men B immunisation.
A surprisingly high number of people in the large eurozone economies would like to revert to their own currency, although this proportion has been decreasing. In Italy over a third want to return to the lira