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.... That means each machine brings in nearly £53,000 a year. Of course, that money does not simply disappear out of the economy. ... [Read full article on Guardian ]
Sunday 28th of May 2017 06:00:02 AM
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.... There has been no productivity growth and wages are lower than 10 years ago. The 1970s was thought of as the most dismal decade for the economy since the second world war but the 2010s now hold this unwanted accolade. ... [Read full article on Guardian ]
Sunday 28th of May 2017 12:14:58 PM
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Latest Finance News related to Economy

Election rules hit Bank's recruitment as monetary policy committee shrinks image
....Investec economist Philip Shaw said while the departure of Forbes will leave the MPC without a hawk, it is unlikely to change the outlook for rates. He said: “To our minds, the direction of the economy is pretty clear at the moment. ...
Labour’s hope doesn’t usually play well in an age of anxiety image
Source : Guardian [Read Article] Saturday 27th of May 2017 04:00:32 PM
. It seems crazy to argue that the election will be determined by the economy when events have focused the electorate’s attention on national security and the judgment of the main political leaders. ...
Brighter skies over eurozone as growth and employment pick up image
Source : Guardian [Read Article] Saturday 27th of May 2017 03:00:30 PM
.... It also expects unemployment to keep falling as the economic recovery finally spreads to all corners of the region. Experts say it is no coincidence that the approval ratings of populists are fading as the economy strengthens. ...
We will all pay the price for our financial illiteracy image
Source : Guardian [Read Article] Saturday 27th of May 2017 06:00:20 AM
....I was fascinated to learn that if you give a 15-year-old a bank debit card, in many countries (such as the Netherlands and Spain) they were likely to score worse on financial literacy than those teenagers who did not have them. The US may be the most financialised economy in the world, yet 15-year-olds in Russia had better financial literacy than Americans. ...
IFS makes damning assessment of Tory and Labour manifestos image
Source : Guardian [Read Article] Friday 26th of May 2017 08:37:33 AM
.... And he said the manifesto U-turn over a cap on care costs would result in “presumably increasing public spending overall”. The Tory commitment to get net migration down to the tens of thousands risked harming the economy, particularly when coupled with the ageing British population, Emmerson said. ...
Tories and Labour not being honest with voters: IFS image
Source : BBC [Read Article] Friday 26th of May 2017 08:21:41 AM
....". He added that the IFS's assessment of the Conservatives' plans indicated they would "damage the economy and public services with five more years of damaging austerity". ...
Don't want to work until you are 70? You will have to, says WEF image
Source : Guardian [Read Article] Friday 26th of May 2017 06:07:32 AM
....”. Adding in China and India, which have the world’s largest populations, the combined savings gap for the eight countries reached $400tn by 2050, a sum five times the size of the current global economy. ...
China risks another downgrade if debt bubble not fixed, says Moody's image
....Although any impact on sovereign borrowing costs will be slight, China dislikes criticism of its economic policy. The finance ministry denied that growth would suffer while a front-pade editorial in the People’s Daily called Moody’s “sloppy” and said the agency decision was based on inappropriate methodology, exaggerating difficulties facing the economy and underestimating the government’s reform efforts. ...
Deliveroo accused of 'painting a false picture' at work tribunal image
Source : Guardian [Read Article] Thursday 25th of May 2017 04:23:13 PM
....Deliveroo has been accused of running a campaign of misinformation and implementing last-minute changes to contracts in an effort to prevent riders from gaining better employment rights. In a key case relating to the gig economy, the Central Arbitration Committee is investigating whether Deliveroo’s drivers are independent contractors, as the company argues, or whether they should be classified as workers with rights to holiday pay, the national minimum wage and collective bargaining via a union. ...
How has the Brexit vote affected the UK economy? May verdict image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:15:32 AM
...
Brexit economy: workers face squeeze but firms remain upbeat image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:12:55 AM
....With a fortnight to go until the general election, the Guardian’s monthly tracker of economic news paints a mixed picture. Living standards are again falling, but while the economy has slowed markedly, as the latest GDP update showed, it continues to defy the gloomy forecasts of a Brexit recession made by some commentators this time last year. ...
UK economy slows more than expected as inflation hits spending image
Source : Guardian [Read Article] Thursday 25th of May 2017 09:24:06 AM
. The UK economy slowed even more sharply than first thought in the opening months of this year as rising prices in the wake of the Brexit vote took their toll on consumer spending. ...
UK gamblers lose record £13.8bn as industry braces for FOBT crackdown image
....Bookmakers, who derive more than half of their revenue from FOBTs, have defended the machines, warning that thousands of jobs and billions in taxes could be lost if they are restricted. But the Campaign for Fairer Gambling said the machines were a net drain on the economy. ...
UK economic growth estimate revised down image
Source : BBC [Read Article] Thursday 25th of May 2017 08:49:40 AM
. The UK's economy grew more slowly than first estimated in the first three months of the year, as the key services sector lost momentum. ...
TUC urges government to help boost pay as debt nears record levels image
Source : Guardian [Read Article] Thursday 25th of May 2017 05:01:19 AM
....Frances O’Grady, the TUC general secretary, expressed alarm at the steady increase in unsecured debt – which excludes mortgages – and called for a higher minimum wage and an end to the tough pay curbs in the public sector. “The surge in household debt is putting the economy in the danger zone,” O’Grady said, in response to a TUC analysis showing that the average unsecured debt per household stood at £13,200 last year – only £100 below the record reached in 2007. ...
Mongolia gets financial aid totalling $5.5bn from IMF image
Source : BBC [Read Article] Thursday 25th of May 2017 04:51:17 AM
....5bn (£4. 2bn) aid package to stabilise its economy and push through much-needed reforms. ...
TUC warns household debt will rise to £15,000 by 2020 image
Source : Daily Express [Read Article] Thursday 25th of May 2017 12:00:00 AM
. The TUC said wages have not recovered from the financial crisis, pushing the economy into the "danger zone". ...
Proud papa image
Source : BBC [Read Article] Wednesday 24th of May 2017 11:55:48 PM
.... . "The proposal will allow States to establish paid parental leave programs in a way that is most appropriate for their workforce and economy," the budget reads. ...
Dollar slips after cautious Fed minutes image
Source : BBC [Read Article] Wednesday 24th of May 2017 08:05:38 PM
.... . Amid the housing and financial crisis, the Federal Reserve lowered interest rates to boost the economy. ...
Former Anglo Irish chair Seán Fitzpatrick walks free as trial collapses image
....One of those who used Anglo Irish to play the global property casino was Ireland’s one-time richest man, Seán Quinn. Quinn is the former billionaire whose rise and fall while overborrowing from Anglo Irish personifies the collapse of Ireland’s Celtic Tiger economy. ...
China's credit rating downgraded amid fears over slowing economy image
Source : Guardian [Read Article] Wednesday 24th of May 2017 12:48:29 PM
. China’s credit rating has been downgraded by Moody’s for the first time in almost 30 years over fears that slowing growth and rising debts will weaken the world’s second largest economy. ...
M&S profits dive by nearly two-thirds as clothing sales slide image
Source : Guardian [Read Article] Wednesday 24th of May 2017 06:59:23 AM
....Rowe described the clothing market as “volatile and slightly depressed”, while profit margins at its food business are also coming under pressure as inflation bites. He said that while consumers were feeling OK about their personal finances, their view of the economy was more fragile. ...
Moody's cuts China's credit rating for first time since 1989 image
Source : BBC [Read Article] Wednesday 24th of May 2017 03:28:10 AM
. China's credit rating has been cut over fears that growth in the world's second-biggest economy will slow in the coming years. ...
'Nothing we could do' image
Source : BBC [Read Article] Tuesday 23rd of May 2017 11:00:17 PM
.... And that could mean that restricting Nafta or imposing border taxes on car parts made in the US's neighbours could cost American jobs. Mexican officials are betting the US won't shoot itself in the foot even as its new president tries to change his country's role in the global economy. ...
The economy is stagnant because people fear for the future | Robert Shiller image
....5% in May 2017. The fact that people are willing to tie up their money for 10 years at such low rates suggests that there has been a long trend towards pessimism, reflected in the recent popularity of the term “secular stagnation” to describe a perpetually weak economy. ...
How can Macron unite Europe? He could start with its armies | Hans-Werner Sinn image
....Emmanuel Macron’s victory in the French presidential election sent a wave of relief and euphoria across Europe. But now a reality check is in order, because we do not yet know how the president intends to restore the French economy. ...
Unions say Tories' zero-hours workers' review doesn't go far enough image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 09:42:36 AM
....A government-commissioned review into employment practices is expected to make the recommendation next month. Matthew Taylor, the chief executive of the Royal Society of Arts, who is leading the review into insecure work and the gig economy, will argue that new rules are needed to ensure businesses are not exploiting workers. ...
Government borrowing at three-year April high image
Source : BBC [Read Article] Tuesday 23rd of May 2017 09:24:08 AM
....Martin Beck, senior economic adviser to economic forecasting group EY ITEM Club, said: "The new fiscal year began on a disappointing note for the public finances. Supportive one-off factors last year and a weakening economy suggest the deficit is set to widen. ...
No bailout funds for Greece as eurozone finance chiefs fail to agree deal image
....He wants to see “more realism” in the EU’s growth forecasts for Greece and “a bit more specificity” on how the eurozone will ease the country’s debt burden in the long-run. The IMF does not want to write off Greece’s debts, but is arguing for longer grace and repayment periods so they do not weigh so heavily on its economy. ...
Oil bosses have given £390,000 to Tories under Theresa May image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 05:00:43 AM
....It says: “Other industries, like the oil and gas sector, are transforming. The North Sea has provided more than £300bn in tax revenue to the UK economy and supports thousands of highly skilled jobs across Britain. ...
Cuban revolution image
Source : BBC [Read Article] Monday 22nd of May 2017 11:35:07 PM
....The summary was a classic start-up pitch, but it also underscored the obstacles when it comes to starting an online business in the Caribbean country. Mr Gonzalez is counting on buyers from the Cuban diaspora, which already plays a role in the economy, sending money and other products to the island. ...
Doing it my way image
Source : BBC [Read Article] Monday 22nd of May 2017 11:29:21 PM
.... . "In the last 10 years, thousands of creative small businesses have emerged all over the UK, creating jobs, driving wealth creation and contributing significantly to the economy," says notonthehighstreet. ...
'Ordinary' people image
Source : BBC [Read Article] Monday 22nd of May 2017 11:27:59 PM
....The changing nature of work and the jobs people do to make ends meet has become an increasingly important issue. At present, there is a particular focus on the emerging gig economy. ...
Reality Check: How does government borrowing compare? image
Source : BBC [Read Article] Monday 22nd of May 2017 01:48:26 PM
....The claim: The governments since 2010 have borrowed more than all the Labour governments in history. Reality Check verdict: That's true in cash terms but not when you take into account the growing economy. ...
Portugal back to fiscal health, says EU image
Source : BBC [Read Article] Monday 22nd of May 2017 11:27:55 AM
....Since then, a Socialist-led coalition has reversed those austerity measures. EU economy commissioner Pierre Moscovici said the outcome was "extremely good news" for Portugal. ...
EU accused of anti-City 'protectionism' image
Source : BBC [Read Article] Monday 22nd of May 2017 08:19:45 AM
....Meanwhile, London Stock Exchange chief executive Xavier Rolet has warned Brussels that stripping London of its euro-clearing business could increase trading costs by 100bn euros. He wrote in The Times that stopping London from processing trades in euro-denominated assets would "increase, not reduce, levels of systematic risk, and increase costs for European companies, diverting capital away from the European economy". ...
Could citizens’ wealth funds halt the dominance of the financial elite? image
....Over time, they would raise the share of all national wealth that is held in common (currently this stands at less than a tenth), ensuring that a growing part of the returns from capital are shared equally among all citizens. Such funds operate like a giant community-owned unit trust, giving all citizens an equal stake in a part of the economy. ...
Reproductive rebels image
Source : BBC [Read Article] Sunday 21st of May 2017 11:17:43 PM
.... . It is a tiny little pill that continues to transform the world economy. ...
Dough kidding image
Source : BBC [Read Article] Sunday 21st of May 2017 11:10:46 PM
....Hang Do, vice president of Seedcom, a Vietnamese investment fund, says she wasn't surprised that Pizza 4Ps has done so well. "For the past five years, as the economy has grown, the middle class has grown very fast as well, and people have just been more open-minded to the diversity of food and beverages," she says. ...
TPP trade deal will continue without Trump image
Source : BBC [Read Article] Sunday 21st of May 2017 10:54:17 AM
....The representatives also agreed to help the US rejoin the deal at any time. The bid to revive the TPP, which would have covered 40% of the global economy, was led by trade ministers from Japan, Australia and New Zealand. ...
Forget Brexit, the real challenge is creating enough wealth for an ageing population image
....Much of the focus since the referendum has been on what sort of trade arrangements a Brexit Britain will have. The real focus should be on sorting out the long-term weaknesses of the economy. ...
Australia leads fight to save Trans-Pacific Partnership trade pact image
Source : Guardian [Read Article] Sunday 21st of May 2017 06:06:03 AM
....As fears rumble of a new global era of protectionism, Asia Pacific trade ministers gathered in Vietnam on Sunday with Australia, Japan and New Zealand at the forefront of efforts to save the deal. The 12-nation TPP covered 40% of the global economy before Trump abruptly abandoned it in January as part of a campaign pledge to save American jobs he said had been sucked up overseas. ...
From tax to Brexit, the Tories will do anything to stay in power image
Source : Guardian [Read Article] Sunday 21st of May 2017 06:00:47 AM
.... No wonder there has been intense speculation about the chancellor’s future. Philip Hammond had made the point that running the economy demanded flexibility in tax policy. ...
Car loans, low rates, second mortgages: all the ingredients for a new credit crunch image
.... Three developments lie at the heart of this disturbing analysis: spectacular growth in the sale of second mortgages, car loans and credit cards. Second mortgages are widely seen as a signal of consumers taking on risky levels of debt that leave them vulnerable to a downturn in the economy. ...
Paul Polman: ‘I could boost Unilever shares. But cutting costs is not our way’ image
.... Unilever is the second biggest filer of patents in the UK, he says, and runs projects with 10 universities. “So the importance of a company like this is not a national test of security, but a national test of what sort of economy we want. ...
Picture perfect: how to make an art of your investments image
Source : Guardian [Read Article] Saturday 20th of May 2017 06:00:17 AM
.... Charles Saatchi, the advertising magnate and art collector, sometimes arrives at shows before all the artwork is installed and rival dealers get there (he is famed for buying up entire graduation shows). Investment experts say modern art is an effective hedge against inflation – returns tend to be better at times when prices in the economy are rising, which is the case now. ...
Government may fund South African mine that would compete with Adani image
Source : Guardian [Read Article] Saturday 20th of May 2017 12:27:03 AM
....”. In Queensland on Thursday, the prime minister, Malcolm Turnbull, said the Adani Carmichael project was “vitally important” for Queensland’s economy. ...
Sterling's fall buoys UK manufacturers as export orders rise image
Source : Guardian [Read Article] Friday 19th of May 2017 01:17:38 PM
....UK factories have cashed in on the sharp fall in the pound since the Brexit vote, with export orders at the joint highest level in three and a half years. The stronger than expected findings from a survey by the CBI, the UK business trade body, suggest manufacturers had a decent start to the second quarter, boosting hopes that the sector will help prop up the wider economy as a consumer slowdown takes hold. ...
German business leaders urge Tories to rethink plan to leave single market image
....German industrialists have warned that British hopes of their support in Brexit negotiations are misplaced and could backfire with dangerous consequences for international trade. Business leaders in Europe’s biggest economy are instead calling on Conservatives to rethink their commitment to leaving the single market, even though the party has doubled down on this promise in its election manifesto. ...
Price rises caused by Brexit a big worry for UK consumers, survey finds image
....With food prices widely expected to increase in 2017, average spending on grocery shopping looks likely to increase unless shoppers find ways to maintain spending through trading down or reducing waste. Britons have also become less materialistic, the report notes, prioritising spending on leisure activities and experiences over material possessions in what is dubbed “the experience economy”. ...
May's manifesto is birth of third way Conservatism image
Source : Guardian [Read Article] Thursday 18th of May 2017 01:15:48 PM
.... Gordon Brown used to talk about “prudence for a purpose”; May adopts a similar approach. Sound public finances are not an end in themselves but are the foundation of a successful economy. ...
Japan's economy grows faster than expected image
Source : BBC [Read Article] Thursday 18th of May 2017 09:25:20 AM
. Japan's economy grew faster than expected in the first three months of the year, according to official data. ...
Facebook fined £94m for 'misleading' EU over WhatsApp takeover image
Source : Guardian [Read Article] Thursday 18th of May 2017 08:56:52 AM
....The European Consumer Organisation (BEUC) said it was disappointing that the commission had not revised its original decision in favour of the merger. “It is crucial in our data economy that competition bodies more closely scrutinise the potential consumer harm of a merger between data-heavy companies,” said the BEUC director general, Monique Goyens. ...
Conservative manifesto: Theresa May targets mainstream Britain' image
Source : BBC [Read Article] Wednesday 17th of May 2017 09:26:25 PM
....Prime Minister Theresa May has promised a "mainstream government that would deliver for mainstream Britain". Launching the Conservative manifesto, Mrs May said a strong economy and delivering Brexit were top priorities. ...
The Guardian view on the economy: it’s bad | Editorial image
Source : Guardian [Read Article] Wednesday 17th of May 2017 06:48:00 PM
.... The unemployment rate was last this low in 1975, at which time the annual inflation rate was 10 times as high as its current rate, and wages were growing at 30% a year. The really remarkable feature of the economy is the weakness of earnings, especially at a time when the percentage of people in work is close to 75%, the highest since modern records began. ...
Lloyds should give the backslapping a rest after sale of government stake | Nils Pratley image
.... Something along these lines: “We thank the government and UK citizens for their support over the last nine years. The bank learned the lessons of the crisis many years ago and we’re sticking to our plan to support the UK economy. ...
Government accused of ignoring workers' plight as UK faces pay squeeze image
Source : Guardian [Read Article] Wednesday 17th of May 2017 09:24:55 AM
....Liberal Democrat spokesman Vince Cable said:“This squeeze on living standards is almost certainly caused by the falling pound since the Brexit vote. “If Theresa May is allowed to pursue her extreme Brexit agenda, we can expect further weakening of the economy and erosion of people’s living standards. ...
The safety-first for savers and pensioners trying to secure shares image
Source : Daily Express [Read Article] Wednesday 17th of May 2017 12:01:00 AM
....” . Ben Brettell, senior economist at Hargreaves Lansdown, warned that the Bank of England was unlikely to hike interest rates as the economy slows. ...
University of Apple  image
Source : BBC [Read Article] Tuesday 16th of May 2017 11:03:56 PM
....Computer apps, in the space of less than decade, have become a major source of revenue and jobs. Apple says there are now two million apps available on its online store - and that in Europe alone, the app economy sustains 1. ...
UK inflation: How could latest figures impact an international property purchase? image
....Until recently it had been expected that the BoE would raise interest rates in order to counter the impact of surging inflation. However, the central bank is currently insisting that it’s prepared to look through higher inflation and leave monetary policy accommodative in order to support other areas of the domestic economy. ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
....The document sketches out a picture of Britain in which the size of the state is bigger – apart from during the special circumstances of the financial crisis – than at any time since the 1980s. You would have to go back even further – to the early 1950s – to find a time when tax as a share of the economy will be as high as it would be under Labour’s plan for 2021-22. ...
Labour manifesto: Extra £48.6bn in tax revenue to fund pledges image
....Speaking on a visit to Stoke-on-Trent, Prime Minister Theresa May said Labour's sums did not add up and people should be "worried" about what would happen if they won power. "What we see is actually these policies, they are not sensible economic policies and would actually damage our economy," she said. ...
Global stock markets: what's driving the record rises – and will they continue? image
.... And the FTSE 100 is particularly dominated by mining businesses, meaning it gains a particular benefit when the sector is in demand. Among political risks worrying investors was the prospect of renewed calls for a break-up of the eurozone, with unpredictable consequences for the rest of the global economy. ...
Greek economy sinks back into recession image
Source : BBC [Read Article] Tuesday 16th of May 2017 11:01:53 AM
....The fastest-growing economies were Latvia, Lithuania and Portugal, which expanded by 1% in the quarter. Germany, the EU's biggest economy, posted a 0. ...
Energy price rises help drive UK inflation up to 2.7% image
Source : Guardian [Read Article] Tuesday 16th of May 2017 09:04:59 AM
....9%, opposition parties and the TUC said the new inflation figure highlighted the growing pressure on living standards and consumer spending. The economy has grown over the last two years in response to a surge in consumer spending, fuelled largely by an increase in credit. ...
General election 2017: Lib Dems promise £100-a-week for entrepreneurs' living costs image
.... It would also review the system of business rates in England and Wales, whose revaluation earlier this year angered many businesses which were left facing bill rises of more than £1,000. "Many firms are struggling to borrow to invest and that is suffocating an economy being propped up on consumer spending," Mr Farron will argue. ...

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