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Archive for April 16th, 2008Euro hits record high of 1.5969 dollarsPosted by UK Economy News
In UK financial news
16Apr 08 The euro struck an all-time peak of 1.5969 dollars Wednesday as eurozone inflation spiked to a record high, dampening hopes of an ECB rate cut to help tackle slowing economic growth, analysts said.
Read full story Surging oil and food prices fuel global inflationPosted by UK Economy News
In UK financial news
16Apr 08 Soaring oil and food prices lifted inflation to record levels in Europe on Wednesday and posed a serious threat to governments worldwide amid expert warnings of social upheaval.
Read full story Comments Off IEA says “gas OPEC” possiblePosted by UK Economy News
In UK financial news
16Apr 08 An OPEC-style gas charter is feasible but could not come to market for at least 10 years, the International Energy Agency (IEA) said on Wednesday.
Read full story Comments Off China’s economic growth slows as food prices soarPosted by UK Economy News
In UK financial news
16Apr 08 The US subprime crisis and a bout of severe winter weather helped cool China's economy in the first quarter, but soaring food prices kept inflation near a 12-year high, the government said Wednesday.
Read full story Comments Off UBS needs years to repair reputation: new chairmanPosted by UK Economy News
In UK financial news
16Apr 08 It will take around two to three years for embattled Swiss banking giant UBS to regain its reputation as one of the world's most stable and trusted banks, its new chairman said in an interview published Wednesday.
Read full story Comments Off Oil hits record highPosted by UK Economy News
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16Apr 08 Oil struck a new record high above $114 a barrel on Wednesday, buoyed by the weak U.S. dollar, inflows of speculative money and long-term constraints on supply.
Read full story Comments Off Oil hits record highPosted by UK Economy News
In UK financial news
16Apr 08 Oil set a record high above $114 a barrel on Wednesday before the release of a U.S. government report expected to show a drp in fuel inventories in the world's top consumer.
Read full story Comments Off Bank of England mulls credit-crunch plan for home loan marketPosted by UK Economy News
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16Apr 08 The Bank of England is finalising plans to help Britain's mortgage market, which has been hit hard by the credit crunch as banks tighten lending criteria, the Financial Times reported Wednesday.
Read full story Comments Off Chinese fund named as BP stake buyerPosted by UK Economy News
In UK financial news
16Apr 08 British energy giant BP has confirmed that the buyer of just under one percent of its shares is a Hong Kong branch of China's State Administration of Foreign Exchange, state media said Wednesday.
Read full story Comments Off Iran questions need for OPEC to cool oil pricesPosted by UK Economy News
In UK financial news
16Apr 08 Iran's oil minister on Wednesday questioned the need for OPEC to hike production to cool surging oil prices, snubbing calls for more crude from its Western foes, the United States and Britain.
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