UK House Prices Fall Another 2.2% in December
The average price of a home in the UK fell another 2.2 percent for the month of December bringing the total yearly loss to 16.2 percent. More
Week UK Manufacturing Results Increases Speculation of a Rate Cut
UK manufacturing suffered its second worst month since 1992 and this has many analysts suggesting that the Bank of England will be forced to make further cuts to lending rates. More
Russia Cuts Gas Shipments to Ukraine
Russia yesterday followed through on its threat to halt shipments of gas to the Ukraine as the two countries continue to come to terms on pricing. This latest action could affect gas inventories and prices in other parts of Europe as the Ukraine pipeline supplies nearly one quarter of Europe’s gas.
UK Pound Begins New Year as it Ended Old Year
The British pound started the new year in the same manner as it closed out 2008 by declining in value against the dollar and the euro. By late-morning today, the pound had fallen to $1.4483 against the dollar down from $1.4678 yesterday, while against the euro, the pound fell to 96.23 pence from 95.62 pence. More
Oil Prices Retreat Following Year-End Rally
Oil prices fell in New York today reversing some of the gains of a year-end rally that saw prices strengthen by 14 percent. The on-going conflict between Israel and Hamas caused some supply concerns resulting in the price rally, but these worries now appear to be displaced by greater fears of weakening demand. More
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