Fri, 08/10/2010 - 22:30 by Prince damin
London -- Home values in Britain plummeted in September, the nation's largest lending group, Halifax, said Friday.
The value of homes fell on average by $9,561, Halifax said. The Daily Telegraph reported that the average home price fell from $267,926 in August to $258,320, the largest month-to-month drop since Halifax began tracking the data in 1983.
The price drop is expected to ripple though the economy, as home owners have considerably less collateral to bank on when applying for a home equity loan. Government fees and taxes based on property values will also decline. Refinancing also becomes more difficult when homeowners find equity in the current contract fails to match their expectations.
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Sat, 11/09/2010 - 22:30 by Prince damin
London -- Inflation could drive the cost of most food staples up as much as seven percent, Britain's Food and Agriculture Organization said.
The price of meat, dairy and sugar rose 1.7 percent in June, and is likely to continue escalating if global food commodity prices continue to rise, The Daily Telegraph reported.
"Such an increase (in food prices) would hit consumer spending and recovery prospects and could destabilize inflationary expectations," said economist Simon Ward.
Rising food prices could delay or cancel Britain's plan to impose a value-added tax this year, the report said.
The organization said its monthly food index said prices in August climbed at the fastest rate since September 2008.
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Tue, 31/08/2010 - 02:14 by Prince damin
New York -- Online automobile marketplace Edmunds.com said prices for used cars in the United States are on the rise and supplies have diminished.
In July, the average price of a 2007 model car rose to $19,248, up 10.3 percent compared to the average price of a 3-year-old car in July 2009.
The Detroit News reported Monday that car companies turned off the tap on leasing programs during the prolonged recession, which brought the supply of used cars down.
At the same time, with a 9.5 percent unemployment rate, U.S. consumers have become less willing to spend.
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Mon, 23/08/2010 - 22:18 by Prince damin
New York -- Crude oil prices held steady in New York through the weekend after a week of declines that cut prices about 2.5 percent.
Economic data have not been supportive of late. Last week brought a resurgence in first-time jobless claims and weak reports on U.S. manufacturing.
Light, sweet crude oil prices, closing at $73.95 Friday, added 9 cents through the weekend to $74.04 per barrel on the New York Mercantile Exchange. Heating oil prices climbed 0.007 cents from a previous settlement to $1.978 per gallon. Reformulated blendstock gasoline prices shed 0.0005 cents to $1.867 per gallon. Henry Hub natural gas prices dropped 0.071 cents to $4.066 per million British thermal units.
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Thu, 15/07/2010 - 10:58 by Pankaj Damin
New York -- U.S. crude oil futures fell Wednesday to settle below $77 a barrel after the U.S. Federal Reserve reduced its U.S. economic growth outlook.
Light, sweet crude for August delivery settled down 28 cents, or 0.36 percent, at $76.87 a barrel on the New York Mercantile Exchange after rising as high as $78.15. Brent crude on the ICE futures exchange settled down 27 cents, or 0.36 percent, at $75.66 a barrel.
The Fed projected the U.S. gross domestic product would rise 3 percent to 3.5 percent this year, down from the central bank's 3.2 percent to 3.7 percent spring projection.
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Thu, 08/07/2010 - 02:59 by Pankaj Damin
Chicago -- Grain futures roared into higher ground Wednesday, following equity markets and crude oil prices, all of which staged rebounds.
Corn was up 9 1/2 to up 10 3/4, soybeans were up 27 1/4 to up 32 1/2, wheat was up 23 to up 25 3/4 and oats were up 5 3/4 to up 6 3/4.
Corn prices found support in a U.S. Department of Agriculture report that said 71 percent of the crop was in good to excellent shape, down from 75 percent two weeks ago. Wheat futures turned higher with traders attentive to crop conditions in Europe. Soybean prices jumped with concerns over recent rains and South Korea's announced purchase of 25,000 metric tons.
The prices:
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Mon, 21/06/2010 - 10:53 by Sophie Anderson
On a micro level, the oil spill in the Gulf of Mexico has devastated the Gulf fisheries. However, on the larger U.S. seafood industry, there has been limited impact of the catastrophe.
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Sat, 05/06/2010 - 09:52 by Pankaj Damin
New York -- Crude oil prices fell sharply lower Friday, dropping to close to $71 per barrel as the dollar index rose 1.26 percent and stocks tumbled hard on Wall Street.
The euro dropped Thursday, a sign of continued concern over government debt in Europe -- an issue that has plagued equities and commodities since February.
The euro dropped under $1.20 Friday, falling to $1.1974. Six months ago the euro was trading at $1.50.
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Sun, 30/05/2010 - 12:21 by Jamie Anderson
The Gulf of Mexico oil spill, being pegged as one of the worst disasters in the history of the U.S, has begun to drive up prices of seafood in Maryland. The reason: shutdowns in Louisiana waters that are a major source of oysters and domestic shrimp.
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Sat, 22/05/2010 - 21:27 by Jaspreet Virk
After the two most tumultuous years, since the Great Depression in the 1930s, the economy is recovering again. Though the markets are still fragile, it is a breather, considering the fact that the economy will not sink further.
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Tue, 05/01/2010 - 14:51 by Jamie Anderson
New York, January 5 -- The real estate market continues to thaw in Manhattan! Home prices have fallen in double digits in the fourth quarter and are down nearly 15 percent from the year ago median prices. The average price per square foot has also fallen by 17 percent.
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Tue, 22/12/2009 - 11:33 by Ishita Sood
Every start-up business makes mistakes frequently. Quite a few of these are common mistakes from which every business must learn.
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