June, 2010 | Refinancing

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Archive for June, 2010

Markets News Afternoon: Demand for ECB 3-month bank funding lower than expected; US private sector jobs increased 13,000 in June

June 30th, 2010

Markets news on stocks, currencies and oil; The euro rose Wednesday against the dollar as lower-than-expected demand for a European Central Bank (ECB) liquidity funding program eased fears over the Eurozone banking sector; Nonfarm US private employment increased 13,000 from May to June 2010 on a seasonally adjusted basis.

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Finance News

Irish Economy: No exit from recession in Q1 2010 as GNP fell in quarter while GDP rose 2.7%; Current account deficit was €1.62bn

June 30th, 2010

Irish Economy:

 No exit from recession in Q1 2010 as GNP fell in quarter while GDP rose
2.7%.
Initial estimates for the first quarter of 2010 show an increase, on a seasonally adjusted basis, of 2.7 per cent in GDP and a decline of 0.5 per cent in GNP compared with the previous quarter. In comparison with the corresponding quarter of 2009, GDP at constant prices was 0.7 per cent lower while GNP was 4.2 per cent lower.
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The current account deficit for the first
quarter 2010 was €1.62bn.

Finance News

The Irish Live Register rose by  5,800 to a new all-time record in June: 444,900

June 30th, 2010

The Irish Live Register rose by  5,800 to a new all-time record in June: 444,900.

Finance News

Central Bank says Irish Non-Financial Credit fell again in May; Residential mortgages dipped €352m to €145.8bn

June 30th, 2010


The Central Bank said today that Irish
Non-Financial Credit (NFC), excluding valuation effects and the impact of NAMA
transfers, fell again in May. Residential mortgages (including securitised
mortgages) dipped by €352m during the month, and stood at €145.8bn at end-May
2010, compared with  €144.4bn in May 2008.

Finance News

Eurozone annual inflation fell to 1.4% in June 2010; ECB ends covered bonds purchase programme

June 30th, 2010

Eurozone annual inflation fell to 1.4% in June 2010 compared with the  European Central Bank’s  (ECB) target rate of “below but close to” 2%. The June rate is a flash estimate issued by Eurostat, the statistics office of the European Union. It was 1.6% in May. Separately, the ECB announced today that its covered bonds purchase programme has ended. It was a limited form of so-called ‘quantitative easing’ – – a term for what is a mechanism for increasing money in circulation, that is commonly called ‘printing money.’

Finance News

Markets News Wednesday: Standard Chartered to invest $500m in Agricultural Bank of China IPO

June 30th, 2010

Standard Chartered, a UK bank which in common with HSBC has deep roots in Asia, today announced it would invest 0m in of shares in Agricultural Bank of China (AgBank) in next month’s flotation IPO (initial public offering) to become one of the biggest shareholders.

Finance News

Euro hit by concerns ECB scaling back emergency liquidity support for Eurozone banks too soon

June 30th, 2010

The euro has been hit by concerns that the European Central Bank (ECB) is scaling back its emergency liquidity support for Eurozone banks too soon and the currency on Tuesday plunged to an eight-and-a-half year low against the Japanese yen.

Finance News

Wednesday Newspaper Review – Irish Business News and International Stories – – June 30, 2010

June 30th, 2010

Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.

Finance News

Japan’s manufacturing continued to expand but at slower rate in June; Industrial production/ household spending dipped in May – – unemployment rose

June 30th, 2010

Japan’s manufacturing sector continued to expand at a solid rate during June supported by marked gains in both output and new orders but growth slowed. Payroll numbers increased for a third successive month, while there was a marginal rise in stocks of finished goods for the first time in nine months. Meanwhile government data also issued Wednesday, showed that Japan’s industrial production and household spending dipped in May and the unemployment rate unexpectedly increased, in a signal that the recovery of the world’s second-largest economy may slow.

Finance News

US Economy: Facing a wobble, a double-dip recession or fragile long, painful process of recovery?

June 30th, 2010

US Economy: Tuesday’s sharp 9.8-point dip in the Conference Board’s index of US consumer confidence in June, together with other data, particularly from the housing sector, have raised questions as to whether the economy is facing just a wobble, a double-dip recession or a fragile recovery that will be a long, painful process?

Finance News