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....”. Taxing tech companies is on the agenda of an EU leaders’ summit devoted to the digital economy in Tallinn on 29 September. ... [Read full article on Guardian ]
Thursday 21st of September 2017 09:34:03 AM
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.... This is the second downgrade from a major ratings agency for Beijing this year and comes at an awkward time before next month’s Communist party congress. The Chinese government has been expanding the economy as it pushes to double its size between 2010 and 2020, and has allowed non-financial sector debt to rise rapidly. ... [Read full article on Guardian ]
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....McGuinness, who chairs the policy and resources committee at the City of London Corporation – the local authority for the heart of the capital’s financial district – warned that this was a critical moment if major insurers, banks and fund managers were to avoid implementing their Brexit contingency plans. She said: “We have to have progress … We’re talking about jobs and the economy and ordinary people. ... [Read full article on Guardian ]
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Latest Finance News related to Economy

UK debt crisis and the onward march of neoliberalism | Letters image
Source : Guardian [Read Article] Thursday 21st of September 2017 06:39:04 PM
....Governments chose quantitative easing instead, which allowed the wealthy to get out of cash and into assets, retaining or regaining any loss caused by the crash. The rest of us had to bear the brunt of austerity: cuts in benefits, the erosion of full-time jobs, the rise of the gig economy and increases in rents. ...
China's credit rating cut to A+ by S&P over rising debt fears image
Source : Guardian [Read Article] Thursday 21st of September 2017 03:36:09 PM
.... This is the second downgrade from a major ratings agency for Beijing this year and comes at an awkward time before next month’s Communist party congress. The Chinese government has been expanding the economy as it pushes to double its size between 2010 and 2020, and has allowed non-financial sector debt to rise rapidly. ...
City's top official calls for quick Brexit deal to avoid exodus of jobs image
Source : Guardian [Read Article] Thursday 21st of September 2017 11:37:42 AM
....McGuinness, who chairs the policy and resources committee at the City of London Corporation – the local authority for the heart of the capital’s financial district – warned that this was a critical moment if major insurers, banks and fund managers were to avoid implementing their Brexit contingency plans. She said: “We have to have progress … We’re talking about jobs and the economy and ordinary people. ...
EU to find ways to make Google, Facebook and Amazon pay more tax image
Source : Guardian [Read Article] Thursday 21st of September 2017 09:34:03 AM
....”. Taxing tech companies is on the agenda of an EU leaders’ summit devoted to the digital economy in Tallinn on 29 September. ...
The great unwinding: Fed begins slow demise of its post-crash stimulus image
Source : Guardian [Read Article] Wednesday 20th of September 2017 06:10:52 PM
....The move, announced after a two-day meeting by Fed officials, will start the gradual reduction of the central bank’s $4. 5tn portfolio of bonds and other securities, bought to keep interest rates close to zero in an attempt to kickstart the economy. ...
Ryanair cancellations raise worries in Italy over Alitalia takeover image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:57:42 AM
....But the move has left Italians, already frustrated by the turmoil at Alitalia, doubting the level of service that might be provided if Ryanair’s takeover bid went through. Fabrizio Premuti, the president of the Italian consumers’ association, Konsumer, told the Guardian: “Ryanair is a very important contributor to the Italian economy, but they have made a big mistake. ...
How to look after your car and reduce depreciation cost image
Source : Daily Express [Read Article] Wednesday 20th of September 2017 08:31:00 AM
....com. Director Ben Wooltorton said cars with good fuel economy are desirable and hold value better, as do those with a reputation for reliability. ...
IMF and World Bank members must stop rise of economic non-order | Mohamed El-Erian image
....But the crisis did not appear out of nowhere to challenge a healthy economic order. On the contrary, the evolution of the global order had long been outpaced by structural economic changes on the ground, with multilateral governance institutions taking too long to recognise fully the significance of financial-sector developments and their impact on the real economy, or to make adequate room for emerging economies. ...
51% of young women have to borrow to make cash last until payday image
Source : Guardian [Read Article] Tuesday 19th of September 2017 05:32:12 PM
.... This means giving them the right skills and support to find jobs, ensuring decent and flexible jobs are available, and paying a proper living wage that doesn’t discriminate against age. This would benefit businesses and the economy too. ...
Tycoon says he needs subsidy to build Land Rover Defender successor in UK image
Source : Guardian [Read Article] Tuesday 19th of September 2017 02:46:05 PM
.... If it did opt for the UK, a new factory would be located somewhere along Britain’s east coast, possibly Grangemouth in Scotland or Hull, where Ineos already operates. Ratcliffe said a “catastrophic” blow had been dealt to the UK manufacturing industry over the past two decades, with its contribution to the UK economy falling from 23% in 1990s to less than 10% today. ...
Public inquiry needed into UK's £200bn debt crisis, say senior MPs image
Source : Guardian [Read Article] Tuesday 19th of September 2017 12:50:07 PM
....Reeves said the financial services industry needed to be more transparent about the level of indebtedness and subprime lending. Field said regulators need to be more explicit about the extent of the damage to households and the economy from a shock that could be caused by an increase in unemployment or increased interest rates. ...
Why central banks are not hitting their 2% inflation target | Nouriel Roubini image
Source : Guardian [Read Article] Tuesday 19th of September 2017 10:49:04 AM
. Since the summer of 2016, the global economy has been in a period of moderate expansion, with the growth rate accelerating gradually. ...
Britain's debt time​bomb: FCA urges action over £200bn crisis image
Source : Guardian [Read Article] Monday 18th of September 2017 05:34:39 PM
....Andrew Bailey, chief executive of the Financial Conduct Authority, told the Guardian – at the start of a series examining the £200bn in unsecured consumer credit amassed by households in Britain – that he was concerned about the sheer number of people who needs loans to make ends meet. He pinpointed gig economy workers, who do not have guaranteed hours, as in special need of credit to smoothe their incomes. ...
Ministers launch group to help boost green business investment image
Source : Guardian [Read Article] Monday 18th of September 2017 05:28:07 PM
....A new group led by investors and leading figures from the City of London has been brought together by the government to draw up measures to encourage “green finance” in the UK. The Green Finance Taskforce will have six months to come up with proposals on how to increase investment in the low-carbon economy and will work with banks and other financial institutions. ...
UK debt is explosive – and it only needs a spark to light the fuse | Larry Elliott image
....Britain’s debt timebomb is primed and ready to go off at any time. From never-never spending on credit cards to car loans, from overdrafts to payday loans, there is enough high explosive to devastate the economy for a second time in decade. ...
Ryanair is 'unnecessarily pissing people off' – again | Nils Pratley image
Source : Guardian [Read Article] Monday 18th of September 2017 02:26:16 PM
.... When easyJet suffered its own timekeeping pressures in 2010 – it was called “worse than Air Zimbabwe” at the time – it took management about a year to restore order. Mark Carney’s bleak assessment of the UK’s post-Brexit economy is no less alarming for being exactly what you’d expect him to say. ...
Five reasons why global stock markets are surging | Nick Fletcher image
Source : Guardian [Read Article] Monday 18th of September 2017 11:10:43 AM
.... Here are five reasons why investors are buying into shares. Donald Trump’s proposals for tax cuts and a spending spree to boost the US economy gave some impetus to stock markets after his election, but his inability to pass key reforms – notably on healthcare – raised doubts about his other plans. ...
Growing risk of 'debt trap' if interest rates stay low, say central bankers image
Source : Guardian [Read Article] Sunday 17th of September 2017 04:00:45 PM
....The Bank for International Settlements – known as the central bankers’ bank – highlighted the vulnerability of consumer, business and government finances to interest rate increases in its 174-page quarterly report. Claudio Borio, the head of the monetary and economic department, described this as “a defining question for the global economy”. ...
Why you should invest your money both in Britain and overseas image
Source : Daily Express [Read Article] Sunday 17th of September 2017 01:55:00 PM
....”. The UK domestic economy has also hit a soft patch, but Hollands says the negativity has been overdone: “UK funds have still performed well over the past year and valuations look less expensive than in the US, where the S&P 500 Index is trading at levels last seen in 1999, when the dot. ...
What will justify an interest rate rise in November? | Richard Partington image
Source : Guardian [Read Article] Sunday 17th of September 2017 01:38:31 PM
....25 points may be needed, which sent the pound soaring on Friday to the highest level since the day after the Brexit vote. But is the economy ready for Threadneedle Street to shift interest rates from the record low of 0. ...
It’s one rule for big data, another for its victims | John Naughton image
Source : Guardian [Read Article] Sunday 17th of September 2017 06:00:33 AM
.... So the personal information that these agencies hold is the most sensitive and potent kind of data there is. Equifax will continue its erratic custody of precious data because it’s too important to the US economy to be shut down. ...
Don’t dismiss bankers' predictions of a bitcoin bubble – they should know image
....But some of the perceived flaws behind bitcoin that alarm Dimon – no central authority, a public ledger of transactions – point to the foundations of a new financial establishment. In his jargon-busting lexicon of finance How to Speak Money, the author John Lanchester described how the high priests of ancient Egypt controlled agriculture – and by extension the economy – through a closely guarded flood measurement system known as a nilometer that was hidden behind a load of mumbo jumbo. ...
US retaliation feared as Brussels prepares to close Google’s tax loopholes image
Source : Guardian [Read Article] Saturday 16th of September 2017 11:03:24 PM
....It emerged from a meeting of finance ministers on Saturday that the French proposal has gathered the support of 10 of the 28 EU governments, including Germany, but the move is likely to need the backing of all member states to reduce risks of legal challenges. Estonia, which holds the European council’s rolling presidency, has proposed pursuing a global solution with the cooperation of other economic blocs over a longer time period to avoid hampering the digital economy in the EU. ...
Mortgage alert: Interest rates will rise FOUR times by end of 2018, economists forecast  image
....Analysts from the firm predict core interest rates will quadruple from the current low of 0. 25 per cent by the end of net year, as the economy picks up speed. ...
The eurozone may be back on its feet. But is Greece? image
Source : Guardian [Read Article] Saturday 16th of September 2017 03:00:15 PM
....Macron’s finance minister, Bruno Le Maire, went further, calling the Greek prime minister, Alexis Tsipras, “a real leader [who] works for the common good … a prime minister who works with great courage”. But if progress on Greece’s privatisation programme is anything to go by, the eurozone’s most troubled economy is still in the foothills of recovery. ...
Even German carmakers won’t save us from a hard Brexit image
Source : Guardian [Read Article] Saturday 16th of September 2017 03:00:15 PM
....Clamping down on free movement wouldn’t fit with attempts to deepen the structures of the EU and make it function more as one country, or at least create a eurozone that becomes more of a unitary entity. That is the Franco-German answer to the long-term repair of the EU’s battered economy. ...
The eurozone strikes back – why Europe is booming again image
Source : Guardian [Read Article] Saturday 16th of September 2017 03:00:15 PM
....It was a story few predicted: the eurozone is growing faster than the United States. When Jean-Claude Juncker gave his annual state of the union speech on Wednesday last week, Europe’s booming economy was near the top of his list. ...
'People want a family, a social life': the part-time working revolution image
Source : Guardian [Read Article] Saturday 16th of September 2017 07:00:05 AM
.... And yet, intriguingly, millions of middle-class working lives are moving in that direction, if more by accident than design. “I’m not sure what all the answers are yet, but it was about trying to take a step back and ask the question: ‘What is our economy for?’” says Caroline Lucas, the Green MP and party co-leader (appropriately enough, she job-shares the latter role with colleague Johnathan Bartley). ...
How photography became the hottest new investment choice image
Source : Guardian [Read Article] Saturday 16th of September 2017 06:00:04 AM
....Magnum has established a Collector’s Circle where members meet aspiring and established photographers to share their passion – although it costs £10,000 to join. Wright says: “There has been a lot written about the move to invest in art as a source of assured returns in a turbulent economy; however, you should buy what you love, as you will most likely be living with it for a long time afterwards. ...
Bitcoin value plummets after China orders trading in currency to cease image
Source : Guardian [Read Article] Friday 15th of September 2017 04:52:30 PM
.... Whether it's a bad investment is the $70bn question (literally, since that's the current value of all bitcoins in existence). Bitcoin can only be used as a medium of exchange and in practice has been far more important for the dark economy than it has for most legitimate uses. ...
Prospect of interest rate rise sends pound back to level of Brexit result day image
....This would signal an end to nearly a decade of historically low interest rates. The Bank began cutting rates as the economy went into recession following the financial crisis, falling to 0. ...
JD Wetherspoon boss: EU leaders should take a 'wise-up pill' on Brexit image
Source : Guardian [Read Article] Friday 15th of September 2017 07:00:46 AM
....The chairman of JD Wetherspoon has warned that the pub chain could be forced to switch to suppliers from outside the EU as a result of Brexit and that the strong start to its new financial year could not be sustained. Urging EU leaders to take a “wise-up pill”, Tim Martin said any move to switch suppliers would not have adverse effects on the UK but be “highly damaging to the economy of the EU”. ...
UN report attacks austerity budgets for growing inequality image
Source : Guardian [Read Article] Thursday 14th of September 2017 06:00:52 PM
.... It argues for digitally focused industrial policies to ensure that robotics support jobs rather than threaten them. Richard Kozul-Wright, the director of Unctad’s globalisation and development strategies division, said concerns about robots were mounting against a backdrop of uncertainty over the strength of the global economy. ...
End austerity – and kickstart Martin Luther King’s revolution of values | Richard Kozul-Wright image
.... But instead of channelling resources into the more creative and productive activities needed for long-term growth, it encouraged short-term, speculative behaviour by banks, businesses, and households. That behaviour produced a gathering financial storm that began a decade ago and eventually broke with devastating force on Lehman Brothers, sending investors into a panic, bringing hard times to the high street and spreading out across the global economy. ...
The financial system is still blinking red. We need reform more than ever | Rana Foroohar image
....Since 2008, the markets have soared, but Main Street has suffered. That disconnect was expertly exploited by the president, who, despite his many lies, had the advantage of being a political “outsider” who told some important truths about the economy that resonated with voters. ...
Sports Direct challenged by MPs over claims it underpays couriers image
Source : Guardian [Read Article] Thursday 14th of September 2017 01:32:43 PM
....”. Field, who has led campaigns in parliament against what he claims is the “sulphurous effect” of the fast-growing gig economy, said the whistleblower claimed that Sports Direct was the most persistent company in mislabelling delivery items. ...
UK interest rates stay at 0.25% but Bank of England hints rise is looming image
Source : Guardian [Read Article] Thursday 14th of September 2017 01:24:03 PM
....On Thursday, Threadneedle Street left interest rates at their record low of 0. 25% amid fears over Brexit, but dropped a heavy hint that the first increase in the cost of borrowing for a decade may come sooner than expected if the economy continues to strengthen. ...
James Murdoch warns No 10 not to shun Fox's Sky bid in Brexit run-up image
Source : Guardian [Read Article] Thursday 14th of September 2017 12:44:18 PM
....In comments that will be interpreted as a warning to the government, Murdoch said: “There is a huge opportunity for companies and countries willing to act decisively and capitalise on the economic and social benefit that this industry can create. Inward investment in the UK creative economy and the positive signal it sends to companies around the world is more important than ever as the UK prepares to chart its course outside the EU. ...
Next softens doom and gloom forecasts despite fall in profits image
Source : Guardian [Read Article] Thursday 14th of September 2017 08:32:17 AM
....94. Wolfson, a prominent Vote Leave campaigner whose views on the economy are closely watched, also predicted that Brexit-related price rises would come to an end next year. ...
John Lewis profits halve as chairman warns over Brexit uncertainty image
Source : Guardian [Read Article] Thursday 14th of September 2017 07:20:55 AM
....In an update for the first six months of its financial year, the group, which owns Waitrose supermarkets as well as the John Lewis department store chain, said it expected the tough retail climate to continue throughout this year as UK consumers were less willing to spend money against a backdrop of higher inflation and political uncertainty. As the government prepares for a fourth round of Brexit negotiations with the EU, the John Lewis chairman, Sir Charlie Mayfield, said uncertainty was being throughout the economy and a “serious” parliamentary debate about Brexit was now essential. ...
Philip Hammond tells the City he will protect its global position image
Source : Guardian [Read Article] Wednesday 13th of September 2017 07:00:18 PM
....He was speaking after chairing the first meeting of the business advisory group with the Brexit secretary, David Davis, the business secretary, Greg Clark, and representatives from industry lobby groups such as the employers’ body the CBI, and the Institute of Directors. He said that the meeting had confirmed “that getting clarity soon on issues such as transition, is of vital importance to business – and thus the economy”. ...
Chocolate industry drives rainforest disaster in Ivory Coast image
Source : Guardian [Read Article] Wednesday 13th of September 2017 12:30:10 PM
.... There is little evidence of the programme on the ground. Privately, activists have been warned not to touch cocoa, the backbone of the country’s economy whose vertebrae reach the highest levels of society. ...
Darling: Brexit would not have happened without banking crisis image
Source : Guardian [Read Article] Wednesday 13th of September 2017 12:16:45 PM
....“There is an issue with perpetually low interest rates,” she said. “[We] want to look at the whole issue of household debt, household savings, how the economy is working for people up and down the country . ...
House prices: How to get the BEST deal from your estate agents image
Source : Daily Express [Read Article] Wednesday 13th of September 2017 10:10:00 AM
.... . Paul Smith, chief executive of the haart estate agency chain , warns that saving money on estate agency fees is a false economy if you fail to get the best price for your house: “Most people would rather get a higher price for their property than pay the lowest fee. ...
UK wage rises lag behind inflation despite lowest jobless rate since 1975 image
Source : Guardian [Read Article] Wednesday 13th of September 2017 10:07:10 AM
....4%, the lowest figure for 42 years. Analysts said the burgeoning gig economy, which has seen self-employment climb to 15% of the workforce, was behind the rise in jobs, leading to only modest rises in pay. ...
Families squeezed to brink as inflation beats wages -but unemployment sinks to 42-year low image
.... “Lagging wages makes it more likely the Bank of England will look through rising inflation when it decides on interest rates this week. "Prices are rising above target, which creates the case for raising rates, but today’s wage data suggests all is still not right in the economy. ...
Bitcoin is a fraud that will blow up, says JP Morgan boss image
Source : Guardian [Read Article] Wednesday 13th of September 2017 08:10:44 AM
.... Whether it's a bad investment is the $70bn question (literally, since that's the current value of all bitcoins in existence). Bitcoin can only be used as a medium of exchange and in practice has been far more important for the dark economy than it has for most legitimate uses. ...
Brexit won't solve issues that led to leave vote, says ex-trade minister image
Source : Guardian [Read Article] Wednesday 13th of September 2017 07:24:27 AM
.... He said on the basis of speaking to 16 trade ministers, “there is no compromise”. “I am now pretty committed to the fact that you cannot go back and therefore we have to think about how we make sure we have the most sustainable economy and society,” he said. ...
UK cities expected to get millions of pounds for green energy projects image
Source : Guardian [Read Article] Wednesday 13th of September 2017 05:00:02 AM
....The anticipated support is a response to calls from a network of more than 70 UK cities, which said they wanted to build clean energy projects at a local level but warned that they were struggling to finance them. “We believe the UK has a great opportunity to lead the world in an early shift to a fossil-fuel-free economy, just as we have led the world in previous industrial transitions,” said Judith Blake, leader of Leeds city council, and John Holdich, leader of Peterborough city council. ...
UK's high street banks are accident waiting to happen, says report image
Source : Guardian [Read Article] Tuesday 12th of September 2017 11:01:48 PM
....His analysis – which the Bank of England has previously rejected – focuses on the health check of the major lenders published last November . Those tests were based on a number of hypothetical scenarios including house prices falling and the global economy contracting by 1. ...
Toyota's future investment in UK 'at risk from Brexit uncertainty' image
Source : Guardian [Read Article] Tuesday 12th of September 2017 10:54:12 PM
....“Ministers used to promise exporters that after Brexit they would enjoy the ‘exact same benefits’ as single market and customs union membership. “But as the Brexit talks flounder and reality starts to bite, they’re facing up to the fact that their plans for a destructive hard Brexit will make us less attractive to investors and damage our economy. ...
Hammond eases public sector pay cap, but the squeeze goes on image
Source : Guardian [Read Article] Tuesday 12th of September 2017 06:22:02 PM
....These are chunky figures and would throw a spanner in the works of Hammond’s preparations for his first major budget on 22 November, which according to those close to the chancellor, is focused almost entirely on his plans for skills training, overhauling university fees, infrastructure spending and public investment more generally. If Osborne was the ultimate tactician, whose budgets were designed to weather a week’s worth of headlines and analysis, and not always successfully, Hammond sees himself as a strategist, who must not only help the economy bridge the Brexit gap, but also spend carefully on projects that will come to fruition long after he is retired. ...
No 10 faces backlash from Labour and unions over public sector pay cap lift image
Source : Guardian [Read Article] Tuesday 12th of September 2017 12:30:45 PM
....He continued: “They, like everyone else, deserve to have fulfilling jobs that are fairly rewarded. The government takes a balanced approach to public spending, dealing with our debts to keep our economy strong, while also making sure we invest in our public services. ...
DUP convinces May to raise Northern Ireland plane jobs with Trump image
Source : Guardian [Read Article] Tuesday 12th of September 2017 01:20:43 AM
....Its C-Series wing factory – Northern Ireland’s biggest inward investment project – was helped with a £120m loan from both the UK government and the devolved Stormont power-sharing administration. In terms of wages, Bombardier’s presence generates about £183m for the local economy every year. ...
Public sector employers 'preparing to hire at fastest pace since 2015' image
Source : Guardian [Read Article] Monday 11th of September 2017 11:01:19 PM
....2bn by 2021-22, according to the Institute for Fiscal Studies. But the TUC general secretary, Frances O’Grady, has said removing the cap could help to alleviate some pressure on the government’s benefit bill, while also helping to raise pay in the private sector to boost the economy. ...
YOUR mortgage is about to rise sharply - but Bank of England says no-one listening image
Source : Daily Express [Read Article] Monday 11th of September 2017 01:17:00 PM
....Governor Mark Carney is now set to raise warnings that the decade of cheap money from low rates since the financial crisis has a limited course to run, according to reports. Bank of England policymakers think the stable economy coupled with rising inflation mean interest rates will soon need to rise, bumping up bills for homes across the country. ...
Donald Trump's 3% growth plan is only for the 1% | Kenneth Rogoff image
Source : Guardian [Read Article] Monday 11th of September 2017 01:09:01 PM
....Of course, growth this year is in many ways a continuation of that achieved during Barack Obama’s presidency. Altering the course of a giant ship – in this case, the US economy – takes a long time, and even if Trump ever does manage to get some of his economic agenda through the US Congress, the growth effects are not likely to be felt until well into 2018. ...
UK green energy expensive? Not any more. From now on it's cheap image
Source : Guardian [Read Article] Monday 11th of September 2017 11:38:12 AM
....New power stations in the UK today are usually only built with the certainty provided by subsidies paid through energy bills, so the record low guaranteed price awarded to the developers of three new mega offshore windfarms today is, first and foremost, welcome news for consumers. It is also good for the economy post-Brexit, for the foreign-owned developers behind the multibillion-pound projects, and the increasingly UK-based supply chain that supports them, such as Siemens’ £310m wind turbine factory in Hull. ...
China to ban production of petrol and diesel cars 'in the near future' image
Source : Guardian [Read Article] Monday 11th of September 2017 04:52:23 AM
....China produced and sold more than 28m vehicles last year, according to the International Organization of Motor Vehicle Manufacturers. The sale of new energy vehicles topped 500,000 in the world’s second-largest economy in 2016, over 50% more than the previous year, according to national industry figures. ...
The Guardian view on the economy: the City is now too big for Britain | Editorial image
....The report released last week by the centre-left thinktank IPPR commission on economic justice comes not a moment too soon. In hosting a commission bringing together public intellectuals, representatives of industry, finance and tech, the IPPR seeks to publicise our failures as an economy on the cusp of a “decade of disruption”. ...
Economic cost of Hurricane Irma 'could reach $300bn' image
Source : Guardian [Read Article] Sunday 10th of September 2017 05:05:29 PM
....Florida also grows other important crops including tomatoes, grapefruits, watermelons and sugar cane. Irma could wipe out as much as 20% of the state’s citrus crop, a significant part of its economy, analysts have suggested. ...
To understand the UK's low-pay crisis, Mark Carney needs to get out more | Phillip Inman image
.... The railway workers might use their muscle should they embark on a winter of disputes over driverless trains, but elsewhere workers face draconian employment laws that make them among the most flexible in the world when it comes to how and when they work. That’s not how the Bank reads the broader economy. ...
UK windfarms cheaper than Hinkley Point, experts claim image
Source : Guardian [Read Article] Sunday 10th of September 2017 11:16:29 AM
....”. He said that with the UK committed to a low carbon economy regardless of Brexit, and with gas replacing coal on the power system, now would be a good time to ask where the country would go next on energy. ...
There is no Brexit ‘punishment’, apart from the self-inflicted one image
Source : Guardian [Read Article] Sunday 10th of September 2017 06:00:29 AM
....As the French president, Emmanuel Macron, stated in June, in spite of everything, the door to continued EU membership remains open. The ridiculous thing is that there are enough problems in the British economy and British society without the added self-inflicted damage from Brexit – a first taste, of course, being the collapse of the pound, which has hit British holidaymakers forcibly this summer. ...
Major players in the Northern Rock saga unlikely to stage reunion image
Source : Guardian [Read Article] Sunday 10th of September 2017 05:59:29 AM
.... Otherwise delegates may find that they have paid up to £300 for the pleasure of watching the discussion descend into a fist fight, ending with panellists slurring that they’re each other’s best friend. The old cliché is that you can gauge the health of the economy by counting the number of cranes towering over the London skyline. ...
Like fading powers of the past, Britain shows signs of being in terminal decline  | Will Hutton image
....It was a glorious September morning. But I was in a ruminative mood, walking towards Westminster’s Church House for the unveiling of another damning account of Britain’s economy. ...
Politicians hand over power at their peril | David Kynaston image
Source : Guardian [Read Article] Saturday 9th of September 2017 11:04:20 PM
....Britain eventually won the war and in 1821 returned to the gold standard. Over the rest of the century, on the back of a globalising economy, the City of London became the most dominant international financial and commercial centre that the world had ever seen, while the Bank itself assumed an increasingly public role, albeit still in private ownership. ...
Tax cuts for the rich don't help the rest. Don't take my word for it, ask the IMF | Greg Jericho image
. A new study by the IMF examining the impacts of tax cuts has found that while lowering tax rates for the rich will stimulate the economy, it does so at the great cost of increased inequality. ...
Tory EU migration crackdown plans: the key questions answered image
Source : Guardian [Read Article] Saturday 9th of September 2017 03:00:11 PM
.... The reaction was also fuelled by the government’s refusal to disown the plans, alongside its apparent support of a hard Brexit agenda. We answer the key questions raised by the leak, including the potential consequences for the UK economy. ...
UK exports outside EU fall despite weak pound image
Source : Guardian [Read Article] Friday 8th of September 2017 10:42:19 AM
....In a damaging development for the government, housing orders were down almost 10% on a year ago with public housing the worst affected. Howard Archer, the chief economic adviser to the EY Item Club forecasting group, described the trade, construction and manufacturing data as a “mixed bag” that showed the upbeat signals from some manufacturing industry surveys was starting to register in official data, though the trade and construction data “point to a UK economy still struggling to break out of sluggish growth”. ...
Harvey spells it out: markets alone won't protect you | Joseph Stiglitz image
Source : Guardian [Read Article] Friday 8th of September 2017 09:58:59 AM
.... But the storm that pummelled the Texas coast for the better part of a week also raises deep questions about the United States’ economic system and politics. It is ironic, of course, that an event so related to climate change would occur in a state that is home to so many climate-change deniers – and where the economy depends so heavily on the fossil fuels that drive global warming. ...
UK economy 'treading water' as eurozone stretches ahead, says BCC image
Source : Guardian [Read Article] Friday 8th of September 2017 05:01:30 AM
....7% for 2019 as the economic recovery of the single currency bloc continues. Adam Marshall, the BCC’s director general, said: “While some businesses report strong trading conditions, the UK economy as a whole is treading water, and there is no sign on the horizon of a return to healthier levels of growth. ...
Amazon seeks prime North American spot for second headquarters image
Source : Guardian [Read Article] Thursday 7th of September 2017 03:06:03 PM
.... Amazon says the second HQ will include “as many as 50,000 high-paying jobs”, and notes that the construction and economic impact of the building “is expected to create tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community”. Amazon estimates that in the last six years alone, it has brought an extra $38bn to Seattle’s economy. ...
The Guardian view on EU migration: economically and culturally vital | Editorial image
.... Thanks to Brexit fears and a falling pound, net migration from the EU is falling anyway but too slowly to hit Mrs May’s target. There’s little to suggest that she has anything substantial to replace immigration and European single-market membership to fuel the British economy. ...
Bell Pottinger has toxified political debate in South Africa | Justice Malala image
Source : Guardian [Read Article] Wednesday 6th of September 2017 05:59:41 PM
.... It is everywhere. It is in the spatial arrangements: the pristine formerly whites-only suburbs (where a few of us black people now live) and their high walls, sitting miles away from the sprawling black squatter camps and townships that provide labour for the still – two decades after democracy – white-dominated economy. ...
Government asks big companies to sign letter backing Brexit strategy image
Source : Guardian [Read Article] Wednesday 6th of September 2017 04:24:03 PM
....But the Labour MP Ben Bradshaw, a supporter of the Open Britain campaign group, said the leak was a sign businesses were opposing the government’s hard Brexit plan. “Just today, businesses in sectors ranging from farming to hospitality have reacted with fury to the government’s leaked plans to damage our economy by carrying out a draconian crackdown on immigration from the EU,” he said. ...
Leaked immigration plans ‘catastrophic’ for industry, say employers image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:16:38 AM
....Britain’s blueprint for a post-Brexit immigration policy, outlined in leaked Home Office documents, would be “catastrophic” for some industries, employers have warned. Corporate chiefs and industry leaders in sectors including housebuilding, aerospace, farming and hotels said the tighter controls could lead to labour shortages and damage the economy, as one of their biggest fears about Brexit shows signs of becoming a reality. ...
UK’s economic model is broken, says Archbishop of Canterbury image
Source : Guardian [Read Article] Tuesday 5th of September 2017 06:26:34 PM
....Britain’s economic model is broken and produces widespread inequality, the Archbishop of Canterbury has warned in a report backed by business leaders. Justin Welby said the UK needed to make fundamental choices about the direction of its economy, in a study that found the gains from growth are being diverted into profits rather than wages. ...

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