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FSA tells societies to check on risk

The FSA says building societies must re-examine their risk management and business models in the areas of liquidity, wholesale funding and lending to ensure they are aligned. It has launched a consultation on additional guidance to ensure societies which diversify their business model have the necessary risk management systems and skills.

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OECD unemployment rises

Unemployment in the Organisation for Economic Co-Operation and Development (OECD) area rose 2.2 percentage points over the past year to April 2009, according to the OECD.In April 2009 the unemployment rate for the OECD area was 7.8%. This is 0.1 percentage points higher than the previous month and 2.2 percentage points higher than in April […]

Analysis: Germany criticises quantitative easing

Is short-term economic recovery worth sacrificing long-term economic stability? And is making a political point worth sacrificing foreign relations?With her criticism on quantitative easing, Angela Merkel, the Germany chancellor, sparked a heated debate about monetary policy last week. And about whether it is appropriate for a head of state to criticise central banks.Merkel attacked the […]

Oil price hits seven month high

Crude oil prices rose above $70 per barrel today, the highest they have reached for seven months, on signs that global demand may be rising.Prices jumped after the American Petroleum Institute (API) said American oil reserves fell by 5.96m barrels last week. This is far higher than the 400,000 barrels analysts had anticipated.The steep drop […]

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