Japan’s Economy Contracts
For the first time in more than a year, Japan’s economy returned to a state of deflation as the Bank of Japan warned that the country’s Gross Domestic Product (GDP) could shrink by 3.1 percent by this time next year. More
Sterling Rallies on Manufacturing Increase
The British pound continued to claws its way back against the other majors today on news that UK manufacturing activity rose to its highest level in eight months. More
Release of Bank Stress Test Results to be Delayed
Originally scheduled for release this Monday, the US Federal Reserve said today that the results of the government-mandated “stress tests” will not be made public for at least another week. Rumors have been circulating for several days now that the tests show that several of the largest banks will require additional government assistance to remain solvent. More
UK Bankruptcy Rates Increase 56%
The UK Insolvency Service released figures this morning indicating that 4,941 firms declared themselves bankrupt during the first quarter of the year – an increase of 56 percent from last year and up 7.1 percent over the previous quarter. More
