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
Wednesday, 26 January 2011
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
Link to the article: Channel 4 News
Bank of England Chief warns of 'choppy' economic recovery
Bank of England boss Mervyn King warns that grim GDP figures serve as a stark reminder of Britain's "choppy" economic recovery and says Britons should expect "uncomfortably high" levels of inflation.
Link to the article: Channel 4 News
Link to the article: Channel 4 News
Tuesday, 25 January 2011
UK economy shrinks by an unexpected 0.5 percent
The economic recovery of the UK suffers a blow, with a shock contraction of 0.5 per cent in the last three months of 2010. It means a double-dip recession is on the cards, says Faisal Islam.
Link to the article: Channel 4 News
Link to the article: Channel 4 News
Monday, 24 January 2011
Impartiality over Prime Minister and BSkyB Deal
The Prime Minister's private dinner with News Corporation executives raises questions over his impartiality in the light of News Corp's attempt to take over BSkyB, one MP tells Channel 4 News.
Link to the article: Channel 4 News
The Labour MP, Tom Watson, demanded to know whether Prime Minister David Cameron would be holding any meetings with Rupert Murdoch, the head of News Corporation, on his visit to the UK over the next few days.
Mr Watson told Channel 4 News that "deep questions" over impartiality had been raised by the news revealed in the Independent, that Mr Cameron and his wife dined privately with Mr Murdoch's son and chairman of News Corp in Europe and Asia, James Murdoch, as well as News International Chief Executive Rebekah Brooks and her husband, over Christmas.
Link to the article: Channel 4 News
The Labour MP, Tom Watson, demanded to know whether Prime Minister David Cameron would be holding any meetings with Rupert Murdoch, the head of News Corporation, on his visit to the UK over the next few days.
Mr Watson told Channel 4 News that "deep questions" over impartiality had been raised by the news revealed in the Independent, that Mr Cameron and his wife dined privately with Mr Murdoch's son and chairman of News Corp in Europe and Asia, James Murdoch, as well as News International Chief Executive Rebekah Brooks and her husband, over Christmas.
Tuesday, 18 January 2011
Inflation Rises to 3.7 per cent
The rising cost of fuel and food caused inflation to hit 3.7 per cent in December, up from 3.3 per cent in November. As Faisal Islam reports, this could lead to a rise in interest rates.
Link to the article: Channel 4 News
The Consumer Price Index tracks everyday costs like petrol, utility bills, food and air fares and is used by the Government to measure inflation. The rise in December to 3.7 per cent was the biggest month on month rise since 1996.The only sign of a fall in living costs came in the clothing sector, where the bad weather put pressure on retailers to offer competitive prices.
The rise was partly driven by domestic pressures, as a cold winter damaged vegetable crops, leading to a 1.6 per cent increase in the cost of food. Gas price rises added to the cost of household services, which rose by 1.4 per cent.
But global influences played a large part. Droughts and fires around the world, including in Russia, led to a shortage of bread and grains. Experts are also pointing to an impact from US monetary policy, which has been encouraging risky investment in commodities.
Link to the article: Channel 4 News
The Consumer Price Index tracks everyday costs like petrol, utility bills, food and air fares and is used by the Government to measure inflation. The rise in December to 3.7 per cent was the biggest month on month rise since 1996.The only sign of a fall in living costs came in the clothing sector, where the bad weather put pressure on retailers to offer competitive prices.
The rise was partly driven by domestic pressures, as a cold winter damaged vegetable crops, leading to a 1.6 per cent increase in the cost of food. Gas price rises added to the cost of household services, which rose by 1.4 per cent.
But global influences played a large part. Droughts and fires around the world, including in Russia, led to a shortage of bread and grains. Experts are also pointing to an impact from US monetary policy, which has been encouraging risky investment in commodities.
Inflation rises to 3.7 percent
The rising cost of fuel and food caused inflation to hit 3.7 per cent in December, up from 3.3 per cent in November. As Faisal Islam reports, this could lead to a rise in interest rates.
Link to the article: Channel 4 News
Link to the article: Channel 4 News
Monday, 17 January 2011
Apple shares fall as Steve Jobs suffers fresh health scare
Apple share price falls as CEO Steve Jobs takes a medical leave of absence - but the software giant is on too much of a roll to suffer long-term damage, a market expert tells Channel 4 News.
Link to the article: Channel4 News
Link to the article: Channel4 News
Friday, 14 January 2011
Russian firm to take stake in BP
State-owned Russian oil giant Rosneft has taken a 5 per cent stake in BP, in the first major deal for BP since the Gulf of Mexico oil spill disaster, as Siobhan Kennedy writes.
Link to the article: Channel 4 News
Earlier in the day, the oil giant BP confirmed it was in discussions with Rosneft regarding a "possible arrangement".
But underscoring the deal's significance, the company's chief executive Bob Dubley held a press conference at BP's headquarters in London at 9pm on Friday to announce the deal.
The deal basically involves the two companies swapping shares in each other. Rosneft will now have a 5 per cent stake in BP, which it has swapped for approximately 9.5 per cent of Rosneft's shares. The aggregate value of the shares in BP to be issued to Rosneft is approximately $7.8bn.
Link to the article: Channel 4 News
Earlier in the day, the oil giant BP confirmed it was in discussions with Rosneft regarding a "possible arrangement".
But underscoring the deal's significance, the company's chief executive Bob Dubley held a press conference at BP's headquarters in London at 9pm on Friday to announce the deal.
The deal basically involves the two companies swapping shares in each other. Rosneft will now have a 5 per cent stake in BP, which it has swapped for approximately 9.5 per cent of Rosneft's shares. The aggregate value of the shares in BP to be issued to Rosneft is approximately $7.8bn.
Thursday, 13 January 2011
Petrol price rise will 'slow economy'
Petrol prices are predicted to reach an average of 136p a litre by Easter. One transport group tells Channel 4 News that rising prices at the pumps risk slowing down the economy at difficult time.
Link to the article: Channel 4 News
Link to the article: Channel 4 News
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