Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


While you were sleeping: Germany's signs of recovery

While you were sleeping: Germany's signs of recovery

Jan 22 (BusinessDesk) – Equities in Europe advanced as Germany's central bank said the nation's economy is showing signs of recovery in the first quarter of the year.

"The largely stable labour market and a better outlook for output suggest that the economic weakness won’t last all that long,” according to the Bundesbank in its monthly report released today.

The bank forecasts the economy to grow 0.4 percent in 2013 year and 1.9 percent in 2014. Europe's largest economy contracted 0.5 percent in the fourth quarter of 2012, data last week showed.

Meanwhile, euro zone finance ministers gathered for their first meeting of the year. At the top of their agenda is the financial situation in several peripheral economies including Spain. In addition, the ministers will be discussing how to provide financial help directly to the region's banks.

Europe's Stoxx 600 Index ended the day with a 0.3 percent increase from the previous close. Germany’s DAX and France's CAC 40 both climbed 0.6 percent, while the UK's FTSE 100 rose 0.4 percent.

Transportation remains snarled in the UK and France as a winter storm buffets the area, renewing concerns about the economic outlook. In Germany, a weekend electoral loss for Chancellor Angela Merkel's coalition could block efforts for her government to pass legislation.

US markets were closed for the Martin Luther King Jr holiday on Monday as President Barack Obama celebrated the official start of his second four-year term.

Republicans are gearing up for a Wednesday vote that is expected to provide temporary relief for the US Treasury's debt ceiling, expected to be reached as early as next month.

The yen rose against the greenback, climbing from the lowest level since June 2010, amid expectations the Bank of Japan will announce further monetary policy easing measures.

The central bank's two-day policy meeting is expected to result in a doubling of the inflation target and an expansion of its asset-purchase program. The BOJ will increase asset purchases this week, according to all 23 economists in a Bloomberg News survey, with the median estimate for a 10 trillion-yen increase.

"It’s hard to see what the BOJ could say … that would exceed market expectations,” Daragh Maher, a currency strategist at HSBC Holdings in London, told Bloomberg News. “It’s a natural positioning ahead of the Bank of Japan’s meeting given the yen’s decline.”

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news