Tuesday, 27 December 2011

The future for the British high street bleak or booming..?

Link to the article Channel 4

A bumper Boxing Day and up to 12 million shoppers on the streets on Tuesday - but economists are still warning of gloom for the British economy in 2012.



Economist Tony Dolphin warned: "Going into 2012, the risk is that talk of austerity at home and crisis in Europe will dampen spirits to such an extent that the economy drifts into recession."

Friday, 23 December 2011

The brands gone bad in 2011

Link to the article Channel 4

As the British high street emerges from 2011 a shadow of its former self, Channel 4 News looks at the brands gone bust, or hanging on by a thread, at the end of a difficult year.

It has been a tough year in the world of retail. The latest government-commissioned report found that a third of high streets are failing, or as retail consultant Mary "Queen of Shops" Portas called it, "degenerating". Its forecast for coming years is not much better either - by 2014, the government estimates that less than 40 per cent of retail spending will be on the high street.

A combination of the economic crisis in the eurozone, rising unemployment, and a cultural move towards shopping online rather than on foot, has added to retailers' problems, who are trying desperately to lure back consumers.

In homage to the British high street, Channel 4 News looks at the brands that have gone bust, as well as those struggling to hold on to their place in the market - and in the hearts and minds of consumers.

Thursday, 22 December 2011

BMI jobs at risk in British Airways deal

Link to the article Channel 4

BMI jobs could be on the line as the owner of British Airways agrees to buy the troubled airline for £172.5m, in a move that will boost BA's stranglehold on Heathrow.

International Airlines Group (IAG), which also owns Spanish carrier Iberia, will acquire up to 56 additional taking off and landing slots at Britain's biggest airport once it acquires loss-making BMI from German operator Lufthansa.

Willie Walsh, IAG chief executive, warned BMI job losses were on the horizon as the new owner will restructure the business after the deal is completed. IAG hopes it will go through in the first three months of next year, subject to regulatory approval.

Tuesday, 20 December 2011

Opting out of EU talks could risk 3m jobs

Link to the article Channel 4

Sir Richard Branson and other British businessmen urge the government to "re-engage in the decision-making process" within the EU, which they say is vital to the British economy.

Monday, 19 December 2011

HMV bids to sell live music division

Link to the article Channel 4

The struggling music retailer will bid to sell the live music arm of the business in an attempt to boost finances, after its half-year losses nearly doubled.

HMV Live runs 13 venues and a number of festivals, including London's Lovebox festival and Global Gathering near Stratford-upon-Avon.

The group, which recently sold off the bookseller Waterstone's, said today that HMV live would be placed under strategic review.

Shares in the company fell by 10 per cent following the news. HMV previously announced the closure of 60 shops in a bid to make £10m in savings.

The recent shift towards technology products, which has seen 144 out of 252 stores refitted, has generated growth in the company with like-for-like sales of headphones, speakerdocks and tablet computers up by 144 per cent. And in the first half of the year total company sales were up 8.2 per cent to £3.2m.

Wednesday, 14 December 2011

Retired judge to investigate tax write offs for top firms

Link to the article Channel 4

Channel 4 News understands that former judge Sir Andrew Park has been asked to look into controversial decisions by the UK tax authorities to do deals with large corporations to forgive unpaid taxes.



It's believed that Sir Andrew's investigation on behalf of the National Audit Office will cover up to ten deals struck by the taxman with companies including phone company Vodafone and the investment bank Goldman Sachs.

In one agreement with Vodafone, a potential tax bill of up to seven billion pounds was waived. That decision was subsequently criticised by a whistleblower, Osita Mba, who told the Public Accounts Committee that in striking such a deal the HMRC may have over-reached its powers.

Thomas Cook to close 200 stores

Link to the article Channel 4

Travel firm Thomas Cook says it will close 200 stores over the next two years after revealing losses of nearly £400m in the first part of 2011.

Tuesday, 13 December 2011

Uk inflation slows to 4.8 percent

Link to the article Channel 4

Inflation eases slightly in November for a second successive month, raising expectations that the Bank of England will be able to provide additional stimulus for the economy next year.



Slower growth in food, transport and clothing prices helped push down annual consumer price inflation to 4.8 per cent, its lowest since August.

In October inflation eased for the first time since June to 5.0 percent, from a three-year high of 5.2 per cent

The Bank of England has forecast that weak economic growth will push inflation below its 2 per cent target by the end of 2012, leading some economists to believe the bank will inject an extra £75bn into the economy in February, when its current asset purchases are completed.

"The Bank of England has been arguing for some time that consumer price inflation will fall back sharply once temporary upward pressures wane," said Howard Archer, analyst at IHS Global Insight.

High streets at crisis point

Link to the article Channel 4

A third of high streets are "degenerating or failing", according to a government commissioned review by TV retail expert Mary Portas.

By 2014 less than 40% of retail spending will be on the high street, according to the study, which also found that over the past decade out of town retail floorspace has increased by almost a third while in towns it has shrunk by 14%.

"I believe that our high streets have reached a crisis point. Unless urgent action is taken, much of Britain will lose, irretrievably, something that is fundamental to our society, and which has real social and economic worth to our communities," she said.

The report proposed plans for a national market day in a bid to promote indoor or outdoor markets and help drive traffic towards shops.

She also urged that licensing rules for market stalls should be relaxed to make it easier for people to set up stands in their local high street.

Sunday, 11 December 2011

RBS report to blame errors and light touch controls

Link to the article Channel 4

A report into the failure of Royal Bank of Scotland (RBS) by the FSA will blame light-touch regulation and a catalogue of financial errors for pushing it to a taxpayer bailout in 2008.

Friday, 9 December 2011

Bodleian treasures first anglo japanese trade deal

Link to the article Channel 4

n our final Bodleian treasures feature, Faisal Islam assesses the significance of a 1613 trade deal between England and Japan - "of incredible importance to Britain's political and economic history".

Tuesday, 29 November 2011

Economic growth how to attain it

Link to the article Channel 4

As Chancellor George Osborne announces that growth will be lower than forecast, Channel 4 News asks economists how they would boost activity.

Small business big ideas waiting anxiously

Link to the article Channel 4

Memset is one of many British companies anxiously waiting to hear what help George Osborne will give to small businesses in his autumn statement, writes Business Correspondent Sarah Smith.

Growth down, borrowing up, autumn statement

Link to the article Channel 4

Britain's economic prospects take a hammering as Chancellor George Osborne's autumn statement reveals that growth will be lower than expected and borrowing far higher.

Monday, 28 November 2011

China and the World rebuild our infrastructure

Link to the article Channel 4

Britain’s economy has at best stalled. Its joblessness is sky-high. So tomorrow we’ll see perhaps a roadmap for reindustrialisation. Britain is badly in need of hundreds of billions of pounds of ports, roads, railways just to keep up with eastern high-growth economies. But the government says it doesn’t have the money.

Lucky then, that the man overseeing China‘s $410bn sovereign wealth fund, Jin Liqun has told me that: “We would be more than happy to step in and invest in the infrastructure development in the UK.

OECD predicts double dip recession for Britain

Link to the article Channel 4

With the OECD think tank predicting for the first time that Britain is about to slip back into recession, tomorrow's autumn statement will include a slew of policies to boost growth.

Friday, 25 November 2011

Clegg to announce £1bn youth job scheme

Link to the article Channel 4

Deputy Prime Minister Nick Clegg outlines his flagship £1bn youth jobs programme. But will it work and is it any different to previous schemes? Channel 4 News FactCheck investigates.

Wednesday, 23 November 2011

James Murdoch resigns from uk newspaper boards

Link to the article Channel 4

James Murdoch resigns as director of the companies which publish the Sun, the Times and the Sunday Times.

Tuesday, 22 November 2011

Groupon good or bad for small businesses

Link to the article Channel 4



A baker from Reading reveals she lost £2.50 per order after a Groupon promotion went wrong, but a photographer tells Channel 4 News that group-buying sites can be good for business.

Executive pay corrosive to economy

Link to the article Channel 4

The salaries of Britain's executives are "corrosive" to the economy and "out of control", according to an independent report by the High Pay Commission.

Thursday, 17 November 2011

Northern Rock sold to Virgin for £747m

Link to the article Channel 4

Northern Rock will be sold to Virgin Money for an initial £747m, at an estimated loss of over £400m to the taxpayer. But the government insists it was the best deal on the table.

Wednesday, 16 November 2011

Bank's grim growth forecast too optimistic

Link to the article Channel 4

As the Bank of England lowers its forecasts, an economist tells Channel 4 News Britain is unlikely to grow at all next year.

Tuesday, 15 November 2011

Made in Britain: The future of manufacturing

Link to the article Channel 4

Rolls-Royce is the poster boy for British manufacturing, but what is the future for the sector the government hopes can pull the UK out of recession? Business Correspondent Sarah Smith investigates.

Monday, 14 November 2011

Can manufacturing save the British economy..?

Link to the article Channel 4

The government says economic growth will come from rebalancing the British economy in favour of manufacturing. But what does Britain still make? Business Correspondent Sarah Smith investigates.

Thursday, 10 November 2011

Energy giant EDF hit by spying fine

Energy giant EDF hit by spying fine

Energy company EDF is fined 1.5 million euros by a French court after being found guilty of spying on environmental group Greenpeace, as Science Correspondent Tom Clarke reports.

Land Rover to create 1000 new jobs

Link to the article Channel 4

Car giant Jaguar Land Rover is creating 1,000 new jobs in the west Midlands to support a boost in production over the next five years.

The plant in Solihull, west Midlands, is expecting thousands of applications from skilled tradesmen and women and production staff.

Jaguar Land Rover, owned by Indian firm, Tata, employs nearly 20,000 people in the UK, including 5,000 in Solihull, and has announced a series of recruitment drives this year. In September it revealed that a new factory in Wolverhampton will create up to 750 jobs.

The job creation will give a much needed boost to the UK economy and the news was welcomed by the government, unions and business leaders who said it showed global investors' commitment to the UK.

These 1,000 jobs are being created to support the delivery of 40 "significant product actions" over the next five years, as part of a multi-billion pound investment in new products, which is likely to include a new Range Rover model.

Interest rates stay on hold despite fears of UK slump

Link to article Channel 4 News

The Bank of England resists further emergency action despite fears that the economy will go into reverse by the end of the year.



The Bank's Monetary Policy Committee (MPC) has again kept interest rates at their record low of 0.5 per cent, maintaining its quantitative easing programme at £275bn after October's shock increase.

The MPC pumped an extra £75bn into the economy last month amid signs that the recovery was heading towards a fresh crisis.

Economists do not now expect further action until early next year.

The bank unanimously voted for the QE boost amid fears that growth in the UK will grind to a halt by the end of the year, while governor Sir Mervyn King warned that the UK could be facing "the most serious financial crisis" it has ever seen.

Friday, 4 November 2011

BA owner buys BMI

Link to the article

The owner of British Airways is buying BMI from Lufthansa - giving it control of more than half of Heathrow's take-off slots.



The decision to make the acquisition by International Airlines Group (IAG) - which also owns Iberia - has angered rival Virgin Atlantic.

The sale will increase BA's hold on the take-off and landing slots at Heathrow airport, Britain's busiest. Assuming the deal goes through, IAG will end up in control of more than half of the slots.

Sunday, 30 October 2011

St Paul's clergy to meet Occupy London protestors

Link to the article: Channel 4 News


The Dean of St Paul's and the Bishop of London will meet anti-capitalist protesters who have been camped outside the cathedral.


Saturday, 29 October 2011

Quantas grounds all flights over jobs row

Link to the article at Channel 4 News

All 108 Qantas aircraft have been grounded indefinitely and staff are to be locked out, as the company responds to recent strikes over proposals to move jobs overseas.



The airline issued a statement this morning saying that all its domestic and international flights will be stopped until further notice. Flights in transit would continue to their destination, but all other flights would be stopped from taking off.

The company say it will lock-out staff from Monday morning until three unions behind recent industrial action move to "drop their extreme demands".

Qantas staff have been striking over infrastructure changes and proposals to move some operations to Asia.

Tens of thousands of passengers will be hit and the lock-out will cost the company an estimated $20m per day.

The airline is offering full refunds to any customers that are hit by the strike and has promised them flights at a later stage - although there is no indication at this time when flights will resume.

Friday, 28 October 2011

How much does it cost to buy global clouy..?

Link to the article: Channel 4 News

China has the second largest economy in the world but its hasn’t yet been punching its weight when its comes to global economic influence. Thanks to the euro bailout deal agreed in Brussels this week that is all about to change. As Europe goes cap in hand to the forbidden city asking for the cash to finance their euro rescue fund we can clearly see global economic power sailing east.

Thursday, 27 October 2011

What role will China play in the euro bailout..?

Link to the article: Channel 4 News

An outline deal to save the eurozone has been agreed - but does it still need China's input to succeed? Let's hope not, because a top economist tells Channel 4 News the country may not be interested.

EU debt crisis summit

Link to the article: Channel 4 News

Osborne welcomes deal on eurozone debt crisis

Link to the article: Channel 4 News

Chancellor George Osborne welcomes the eurozone deal but says the "ultimate lesson" of the crisis is that "if you can't pay your way, you'll be next in firing line".

Wednesday, 26 October 2011

What is the eurozone debt deal all about..?

Link to the article: Channel 4 News

As storm clouds gather around the euro, with European leaders meeting in Brussels to try to fix the crisis, Channel 4 News asks a leading economist what the future may hold.

Monday, 24 October 2011

How private is your facebook data..?

Link to the article: Channel 4 News

As Facebook faces an audit over its storage of information, Channel 4 News talks to the 24-year-old Austrian student who has gone head to head with the social networking giant.



As part of his research into privacy law this summer, 24-year-old Austrian law student Max Schrems asked Facebook to turn over all the data the social networking site had collected on him for the past three years, as is his right under European data protection legislation.

In response, Facebook sent him a CD containing more than 1,200 pages of wall posts, messages, removed friends, and "pokes" - activity that Mr Schrems thought had been deleted.

"I think it's quite frightening just how much data is stored by Facebook," Mr Schrems told Channel 4 News.

"They think it's legal and they talk about 'industry standards'. That may be the case in America, but this is Europe, and they're just not getting it," he continued.

Tuesday, 18 October 2011

Record inflation piles pressure on

Link to the article: Channel 4 News

With inflation rising to match record highs, Channel 4 News looks at the effect on the economy and consumer and considers if there are any reasons to be cheerful.

Monday, 17 October 2011

Ex-Olympus CEO's concerns over improper payments

Link to the article: Channel 4 News

The ousted CEO of Olympus tells Channel 4 News he was fired for raising questions about more than £1bn in alleged improper payments made during acquisitions by the company between 2006 and 2008.

Saturday, 15 October 2011

Occupy Wall Street protests go global

Link to the article: Channel 4 News

The Occupy Wall Street movement inspires protests in the UK and dozens of other countries, as campaigners rage against bankers and politicians accused of condemning millions to hardship.

London banks targeted in Occupy Wall St-style protest


Link to the article: Channel 4 News

Hundreds of campaigners target London's City in a bid to replicate New York's Occupy Wall Street protest. One protester tells Channel 4 News it is "direct democracy" but will stay peaceful.

Wednesday, 12 October 2011

Blackberry PR debacle as blackout enters third day

Link to the article: Channel 4 News

As BlackBerry users contemplate a third day of disruption to the service, parent company Research In Motion faces criticism for not keeping customers informed over technical problems.

Young people suffer as unemployment hits 17 year high

Link to the article: Channel 4 News

UK unemployment soars to its highest level for 17 years with 16 to 24-year-olds the hardest hit. Economics Editor Faisal Islam meets some of the young jobless fighting to get onto the career ladder.

Sunday, 9 October 2011

Health reform protestors black Westminster Bridge

Link to the article: Channel 4 Newshttp://www.blogger.com/img/blank.gif

As trade unionists, anti-cuts campaigners and health workers demonstrate in protest at planned health reforms, Lord Owen warns that the NHS could be unrecognisable in 10 years' time.

Saturday, 8 October 2011

BAE jobscuts hit Brough's elite workforce

Link to the article: Channel 4 News

With BAE Systems announcing plans to shed 900 jobs at its Brough plant, the town - for nearly a century a centre for aircraft manufacture in Humberside - faces hard times ahead.

Thursday, 6 October 2011

Steve Jobs: A Creative Genius

Link to the article: Channel 4 News


As tributes are paid to Apple co-founder Steve Jobs who has died, aged 56, following a battle with pancreatic cancer, David Cameron says the world has lost a "great creative, entrepreneurial genius".


Bank pumps further £75bn into economy

Link to the article: Channel 4 News

The Governor of the Bank of England Sir Mervyn King says this is the 'biggest financial crisis' the world has ever faced as the bank increases its quantitative easing programme to £275bn.

Sunday, 2 October 2011

Hundreds arrested in anti-Wall St protest

Link to the article: Channel 4 News

More than 700 people have been arrested during anti-Wall Street protests in the US. Police were forced to close the Brooklyn Bridge as campaigners marched across it without permission.



The arrests took place when a large group of marchers, participating in a second week of protests by the Occupy Wall Street movement, broke off from others on the bridge's pedestrian walkway and headed across the Brooklyn-bound lanes.

The group is protesting against corporate greed and claim they are defending 99 per cent of the US population against the wealthiest 1 per cent.

Thursday, 22 September 2011

Tesco launches supermarket price war


Link to the article: Channel 4 News

Tesco wages a major price offensive on rival supermarkets, aggressively cutting as much as 20 per cent from the cost of everyday items.

The UK's biggest supermarket chain has announced plans to cut the price of 3,000 essential items in a bid to halt the gradual slide of its share price.

Tesco says the move, which will cost the company £500m, is in response to the demands of its cash-strapped consumers. The group has suffered in recent years as Britons have cut back on groceries and switched to discounters such as Aldi and Lidl.

Families have seen the biggest fall in living standards in 30 years in the last financial year, and according to the Institute for Fiscal Studies (IFS) household budgets could be squeezed for another 10 years.

Tesco, where one in every ten pounds in Britain is spent, said it will reduce the number of multi-buy promotions and scrap its double Clubcard points offer in order to cover the cost of the price drop.

Tuesday, 20 September 2011

IMF slashes Britains growth forecast

Link to the article: Channel 4 News


The International Monetary Fund says economic growth in Britain will be lower than expected this year and the government may have to delay its tax and spending plans.


Monday, 19 September 2011

£355m Jaguar investment could create 750 jobs

Link to the article: Channel 4 News

Car giant Jaguar Land Rover announces a multi-million pounds investment which could bring hundreds of jobs to the employment-starved Midlands.



The company will build low-emission engines in the UK, creating up to 750 jobs. The new facility will be based at a business park near Wolverhampton in the Midlands, with work due to start early next year.

"We expect the engine manufacturing facility to create up to 750 highly-skilled engineering and manufacturing posts at Jaguar Land Rover, along with hundreds more highly-skilled manufacturing jobs in the supply chain and the wider UK economy," said Dr Ralf Speth, chief executive of Jaguar Land Rover.

"This is truly exciting news and is a major commitment for our company.

"As we invest £1.5bn a year for the next five years in new product developments, expanding our engine range will help us realise the full global potential of both our Jaguar and Land Rover brands."

Friday, 16 September 2011

Arms and the men - London weapons fair

Link to the article: Channel 4 Newshttp://www.blogger.com/img/blank.gif

This week's DSEi arms fair in London, funded in part by the UK taxpayer via UKTI, is among the biggest in the world.

Wednesday, 14 September 2011

Biggest unemployment rise in two years

Link to the article: Channel 4 News

Unemployment is rising at its fastest level for two years, as the number of young people without jobs surges.



Tuesday, 13 September 2011

Pressure on families as inflation rises again

Link to the article: Channel 4 News

Inflation rates rise again as increases in the price of gas and electricity, combined with higher clothing costs, continue to pile pressure on household incomes.

Wednesday, 7 September 2011

Yahoo! CEO sacked over the phone

Link to the article: Channel 4 News

Yahoo! CEO Carol Bartz is fired over the phone after a two-and-a-half year tenure plagued by falling growth. One analyst tells Channel 4 News the company has "endemic problems".

Osborne admits ecoomic growth has slowed

Link to the full article: Channel 4 News

Chancellor George Osborne admits that the economic recovery will be "choppy", but says he is sticking by his plans for deficit reduction despite evidence of a slowdown.

Tuesday, 6 September 2011

Steve Jobs in his own words

Link to the article: Channel 4 News

Steve Job's motivational speeches are as famous as Apple's products. One particularly well-documented speech given to the graduates of Stanford University in 2005 covered failure, mortality and hope.



Steve Jobs broke his speech down into three areas - his decision to quit college, life after being kicked out of Apple and being diagnosed with cancer. All seemingly dire things to reflect upon, but they demonstrate Jobs' determination to find the positive in all things.

'Trust the dots'

The first section covered his decision to drop out of college, but he began by explaining that he was given up for adoption by his biological mother.

However his birth-mother insisted to Jobs' adoptive parents that they must send him to college before she gave him to them.

The couple agreed and promised her that someday he would go.

Jobs said: "And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life.

"So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.

He explained how after taking the decision to leave college, he became involved in calligraphy lessons - which one day would ultimately influence how Mac computers, and their imitators, would look and function.

"So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life."

'Don't settle'

His second tale was about "love and loss" - the loss he felt when he left Apple in 1985, but how that led to him finding his wife, starting a family and ultimately returning to Apple.

"I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith," Jobs explained.

"I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers.

"Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle."

'Your time is limited'

Finally Steve Jobs explained in intimate detail the day he was diagnosed with cancer, detailing the moment his doctors cried when they realised it was a rare form that they could cure.

"No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary."

Monday, 5 September 2011

Bosses 'bonuses' up 187 percent in last decade

Link to the article: Channel 4 News

The average annual bonus for a director in a FTSE 100 firm has increased by 187 per cent in the last ten years, a new study finds.

The huge leap in bonuses for top bosses has come despite the wider economic turmoil of recent years.

Salaries have also increased over the same 10-year period, by 63 per cent, according to research done by the High Pay Commission.

The average value of long-term incentive plan awards paid out to top executives across the FTSE 350 has increased by 700 per cent in total, the report said. In the state-supported banks, average total earnings of directors are now 130 per cent higher than ten years ago. In 2000, bank directors earned on average £1.7m while in 2010, this reached just under £4m.

Thursday, 25 August 2011

A one man brand: can Apple survive without Jobs..?

Link to the article: Channel 4 News

As Steve Jobs quits as Apple boss, Channel 4 News looks at the power of the company's creative guru and what happens when you build a brand around one man.



n his trademark uniform of jeans, sneakers and black turtlenecks, Steve Jobs is the man behind the iconic Apple gadgets which have inspired an almost cult-like following, including the iPod, iPhone and the iPad.

He has been the public face of just about every major product launch in the past decade.

Stocks in Apple plunged more than 5 per cent after the announcement that Jobs, who is battling pancreatic cancer, would step down and hand over the top job to chief operating officer, Tim Cook.

Richard Merrin, managing director of PR agency Spreckley, told Channel 4 News that it is rare to find someone as charismatic and powerful as Jobs to spearhead a company's brand.

"Jobs is an extraordinary visionary, he's synonymous with the Apple brand. But you don't come across someone like that very often.

Thursday, 17 February 2011

British bankers head to Switzerland

There has been a 28 per cent increase in the number of British bankers and financial services workers migrating to Switzerland, writes Business Producer Ben King.

Link to the article: Channel 4 News

Wednesday, 16 February 2011

Interest Rates: 'Don't run ahead of yourself', King

The Bank of England lowers its growth forecast and signals a rise in interest rates to tame inflation - but Faisal Islam says the Monetary Policy Committee cannot agree on the way forward.

Link to the article: Channel 4 News

In its latest quarterly report published today, the Bank said output was likely to be weaker than expected in 2011, but a double dip recession was not expected.



Inflation is likely to continue rising this year to around 5 per cent, before falling close to the Government's 2 per cent target in 2012 - but only if interest rates rise in the second quarter of 2011.

Higher mortgages

That would mean higher mortgage costs for those who are not on fixed-rate deals and more expensive borrowing for business. Yesterday, official figures showed that the Government's preferred measure of inflation - the Consumer Prices Index - had risen to 4 per cent.

Tuesday, 15 February 2011

Pressure on mortgages as inflation rises

As inflation rises to 4 per cent, Economics Editor Faisal Islam says an interest rate increase is likely in the next four or five months.

Link to the article: Channel 4 News

A rise would mean higher mortgage costs for millions of people who are not on fixed rate deals, as well as increased borrowing costs for businesses.

As expected, the Government's preferred measure of inflation - the consumer prices index (CPI) - rose from 3.7 to 4 per cent last month.

The increase has been attributed to a rise in the cost of oil and the decision to raise VAT from 17.5 to 20 per cent.

The Bank of England's base rate is at an historic low of 0.5 per cent, but with inflation at its highest level since November 2008, the Bank's Monetary Policy Committee (MPC) may be forced to increase it for the first time in two years.

Thursday, 10 February 2011

Interest Rates kept on hold

The Bank of England votes to keep interest rates at 0.5 per cent for the 23rd month in succession.

Link to the article: Channel 4 News

Despite rising inflation, the Bank's Monetary Policy Committee (MPC) decided against an increase in rates, which are at an historic low.

The Consumer Prices Index measure of inflation rose to 3.7 per cent in December, well above the Bank's 2 per cent target - and further rises are expected this year.

But while Britain has come out of recession, there was an unexpected contraction in growth in the last three months of last year - and members of the MPC will have been wary of damaging demand in the economy by increasing borrowing costs for households and businesses.

Wednesday, 26 January 2011

The German economy and a 'Sputnik' moment for British jobs

On my way from Frankfurt to Davos, driving around the Alps. And ringing in my ears is the sound of British economic existentialism. What exactly is the point of the British economy? Clearly yesterday’s awful GDP figure is a starting point, and the snow-capped mountains are a vivid reminder of that horror.

Link to the article: Channel 4 News

What is the Plan B for the UK economy..?

David Cameron insists he won't change course on the UK economy despite a shock contraction but do we need a "Plan B" to boost growth? Cathy Newman reports as two economists debate for Channel 4 News.

Link to the article: Channel 4 News