China’s 1st Quarter Growth Slows to 6.1%
China’s annual Gross Domestic Product (GDP) fell to 6.1% for the first quarter of 2009 compared to 6.8% for the final quarter of last year. This is the weakest quarterly growth since 1992 and is far below China’s target of 8%. More
US Home Foreclosures Increase 24%
The number of US homes in foreclosure proceedings grew by 24% in the first quarter of this year with more than 800,000 homes receiving foreclosure notice. More
ECB Bickering Seen as Impediment to Recovery
The euro has struggled recently in the face of apparent disagreement within the European Central Bank (ECB) on how best to proceed as the eurozone sinks deeper into recession.
“The euro is in a precarious position,†said Ian Stannard, currency strategist in London at BNP Paribas SA. “The policy response to the situation in Europe is behind the curve. The fact that they are dragging their feet on quantitative easing suggests that they’ve been struggling to find solutions, and that’s not going to be good for the currency.†More
JP Morgan Beats Profit Expectations
JPMorgan Chase announced today that it earned $2.14 billion (£1.44 billion) for the first quarter on record revenue of $26.9 billion (£18.03 billion). More
