Gordon Brown: World ‘sleepwalking’ to another financial crisis September 13, 2018 The world is “sleepwalking” into another financial crisis, former Prime Minister Gordon Brown said today, but said it lacks the international will to quickly recover. Read more: A decade on, hubris is the lesson to learn from the Lehman tragedy Brown issued the warning in the week marking the 10th anniversary of the collapse of [...]
Gordon Brown: World ‘sleepwalking’ to another financial crisis September 13, 2018 The world is “sleepwalking” into another financial crisis, former Prime Minister Gordon Brown said today, but said it lacks the international will to quickly recover. Read more: A decade on, hubris is the lesson to learn from the Lehman tragedy Brown issued the warning in the week marking the 10th anniversary of the collapse of [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]
DEBATE: Should gig economy workers be given more rights and protections, as John McDonnell suggests? September 12, 2018 Should gig economy workers be given more rights and protections, as John McDonnell suggests? Brhmie Balaram, senior researcher in the RSA’s Economy, Enterprise and Manufacturing team, says YES. I imagine most people would agree with John McDonnell that it would be desirable to grant gig economy workers more rights. At the same time, they might [...]
The economic answer behind superstar salaries September 12, 2018 Rugby Union’s Premiership season is underway again. This is yet another professional sport which operates on the principles of socialism: the money all ends up in the pockets of what we might call the “workers”. In a sport which was allegedly only played by amateurs until the mid-1990s, earnings have boomed. The average salary in the [...]
The rise of Chinese finance puts pressure on London and New York as top financial centres September 12, 2018 London and New York remain the top two financial centres in the world but Asian cities are hot on their heels, according to an authoritative ranking to be published today. A major report from London-based think tank and consultancy Z/Yen will show the average ranking of financial centres in Asia and the Pacific region rose [...]
Chancellor Philip Hammond: Bank of England boss Mark Carney will remain in place until 2020 to ensure Brexit ‘continuity’ September 11, 2018 Bank of England governor Mark Carney will stay in post until the end of January 2020 to "support continuity" during the Brexit process, chancellor Philip Hammond confirmed today. There has been widespread speculation about whether the Canadian economist would extend his time in post, having been due to step down from the role in June [...]
Wage growth jumps in boost to Bank of England ahead of monetary policy decision September 11, 2018 The wages paid to British workers grew at the joint-fastest rate since the summer of 2015 in the three months to July, according to data published today which supports the Bank of England's contention that a tight labour market is finally pushing up pay. Average regular pay, which excludes bonuses, rose by 2.9 per cent [...]
British economy enjoys surprise July jump in activity to record strongest growth in almost a year September 10, 2018 The British economy surprised economists in July as output grew by 0.3 per cent, with a sunny services sector outlook alongside unexpected support from the construction sector contributing to the pick-up. The three months to July saw GDP expand by 0.6 per cent, picking up from 0.4 per cent growth in the second quarter of [...]
