The latest house prices report published by Nationwide, British house prices in October 2009 outperformed those in October 2008, thus marking the first year-on-year rise in 19 months.
Nationwide estimated that an average UK house was priced at £162,038 in October 2009, which figure represents a 2% rise on the house prices level for October 2008. However, it has been noted that the pace at which house prices have been rising in the previous months slowed down to 0.4%, which means that soon UK property values might start declining again. This is a positive sign for house buyers and borrowers as mortgage interest rates are expected to stay at historic lows for another year.(Times)

Europe's economies are returning to growth. America is admittedly further behind, but the mood is lightening there, too.Eurozone industrial production, for instance, rose by 0.9% month on month in August, according to figures released recently, while July's performance was revised significantly upwards to show a gain of 0.2%.

Experts expect that the inevitable result will be a renewed focus on global sourcing, as razor-thin post-recession margins conspire with weak demand to keep prices low. Profits, in short, will come through cost reduction rather than pricing power.(Global Sourcing)

Only "a clear, politically binding treaty" that puts limits on every nation's carbon output and pledges specific sums of money – to be spent on renewable technology across the globe – will be acceptable as a summit outcome, Britain's chief climate negotiator, Ed Miliband, told the Observer last week. "We have put our cards on the table," said Miliband, the secretary of state for energy and climate change. "We need other nations to do the same." (guardain.co.uk)