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. Read more
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. Read more
More people lived in urban than rural areas for the first time ever in 2007. This year it is estimated that 54 per cent of the world’s population live in cities and by 2050 it is predicted to hit 66 per cent, a mirror image of the two-thirds living in rural areas at the mid-point of the twentieth century. This is expected to come about as development fuels mass internal migration in Africa and Asia. The UN makes no effort to standardise individual countries definitions of urban: population numbers, density and the proportion not working in agriculture and other are all used by different statistical offices.
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. Read more
Estimates of Chinese gross domestic product, released this morning, showed that the rate of growth has sunk to its lowest since the financal crisis. Double-digit expansion may be a thing of the past, but China’s economy is now four times larger than it was at the turn of the century. Measuring China’s GDP using purchasing power parity, the International Monetary Fund estimates that China’s economy will be bigger than the US’s by the end of the year.
More than half of children born in Britain in 2013 had a mother above the age of 30. For the first time since the government began keeping track. The mean age has been rising since a record low in the mid-1970s, after it fell from 29 just before the second world war. The average used by the Office for National Statistics is standardised to take account of the changes in the age distribution of the whole and allows the trends over time to be understood.
A hundred years ago just four countries allowed women to vote: New Zealand, Australia, Finland and Norway. Two world wars accelerated the process, leading to big jumps in the number of countries that granted women the right to vote. Although the breakup of empires following world war one and two also led to big increases in the number of countries. By the year 2000, 147 countries allowed women to vote alongside men.
More migrants die crossing the Mediterranean than any other border in the world. In total the Mediterranean accounts for 75 per cent of the world’s migrant deaths. So far this year the Italian navy’s Mare Nostrum rescue operation has saved 100,000 migrant who tried to make the crossing but it is set to be replaced by a smaller and EU-managed force known as Triton.
The current Ebola virus outbreak has claimed more than 4,000 lives in West Africa, as well as one in the US where the victim had been visiting Liberia, the country with the highest death toll so far.
Our interactive graphic tracks the outbreak’s spread since the World Health Organisation first issued a global alert in March 2014
by Gavin Jackson and Keith Fray
On Tuesday the International Monetary Fund released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialised nations, when measured at purchasing power parity (PPP). Read more
No one knows how many Chinese people live in Europe.
The United Nations estimated Europe’s China-born population at 886,882 in 2010, its most recent count, while Chinese-based social scientists put it somewhere between 2m and 3m.
Why, in the age of big data, is there so much uncertainty where our neighbours are from? Read more
This weekend the FT Weekend Magazine publishes its first guide to all things gastronomic in the French capital. All the articles – on fine dining, natural wine bars, street markets, specialist coffee hangouts, food politics and more – can be found on the magazine’s website.
The interactive map below shows the locations of more than 100 restaurants, bars, shops and cafes listed in the magazine.
The price of salad is about to jump after prices for olive oil, lettuce and tomatoes have soared following a lengthy drought in Spain. Read more
Based on the voter registration data and the Press Association’s estimated declaration times, here is an approximate timetable of what to expect during the night of the count Read more
It’s impossible to know just how seriously to take the polling for the Scottish independence referendum. Pollsters haven’t had the same opportunity to calibrate their forecasts through trial and error while observers don’t have a past record to go on, and as we reported yesterday, there’s a lot of disagreement between them. Read more
By Tom Burgis, Caroline Nevitt, and Martin Stabe
Chinese investment in postwar Angola set the template for major infrastructure deals in Africa over the past decade. FT’s Tom Burgis explains Beijing’s quest for a continent’s resources. Read more
In news that will delight statisticians everywhere the distinction between the mean and the median finally has the political profile it deserves.
Yesterday Sir Andrew Dilnot, chair of the UK statistical authority, wrote a letter clarifying an ongoing debate between Labour and Conservative politicians on waiting times in accident and emergency rooms. Read more