ADP Jobs Survey Shows 317,000 Jobs Cut in July
A survey by payroll services company ADP, estimates that 371,000 private jobs were lost in July compared to 463,000 the month before. The Labor Department is scheduled to release its own employment figures on Friday which is expected to show a total of 328,000 jobs were cut in July bringing total unemployment to 9.6 percent. More
UK Home Prices on the Rise
A recent survey by Halifax – a division of Lloyds Banking Group specializing in home mortgages – indicates that home prices in the UK rose 1.1 percent for the month of July to 159,623 pounds or 270,462 US dollars.
“Demand for homes has risen, albeit from a very low base, since the start of the year, driven by improvements in affordability and low interest rates,” noted Halifax housing economist Martin Ellis. More
German Retail Sales Fall 1.8%
The Federal Statistics Office poured cold water on the notion that Germany’s economy was on the rebound as latest figures indicate that retail sales fell by 1.8 percent for the month of June. Analysts predict that Germany’s economy could contract by 6 percent this year. More
US House Votes to Limit Executive Bonuses
The US House of Representatives has voted to uphold legislation that curtails bank executive bonuses in an attempt to reign-in excessive risk-taking. The bill must be now approved in the Senate before becoming law. More
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