Link to the article: Channel 4 News
Last Modified: 08 Apr 2009
By: Tom Clarke
Gordon Brown will unveil measures to pave the way for the mass introduction of electric cars on the roads.
A greener Britain will be a better Britain according to the prime minister, who says environmentally-friendly measures will be a major focus of this month's budget.
But a green car is only as green as the electricity used to power it.
Wednesday, 8 April 2009
Tuesday, 7 April 2009
Sub-prime home loans 'disappearing'
Link to the article: Channel 4 News
Last Modified: 07 Apr 2009
Source: PA News
The sub-prime mortgage market has all but disappeared as lenders become increasingly risk averse, figures have shown.
There is now only one provider, Platform, with products that are widely available to people with impaired credit histories, and it offers just eight different products, representing a steep decline from the 1,599 mortgages on offer across all providers a year ago, according to Moneyfacts.
The number of sub-prime loans that are widely available has dived from 204 to just eight during the past week alone, leaving the products accounting for 0.5% of all mortgages, compared with 12.3% at the end of March.
At the same time, the rates charged on the loans are prohibitively expensive, with sub-prime borrowers looking at paying interest of at least 8%, despite the fact that the Bank of England base rate is now at a record low of 0.5%.
The steep fall in the number of sub-prime mortgages available has been driven by GE Money Home Lending's decision to limit the volume of business it does.
Link to the full article: Channel 4 News PA News
Last Modified: 07 Apr 2009
Source: PA News
The sub-prime mortgage market has all but disappeared as lenders become increasingly risk averse, figures have shown.
There is now only one provider, Platform, with products that are widely available to people with impaired credit histories, and it offers just eight different products, representing a steep decline from the 1,599 mortgages on offer across all providers a year ago, according to Moneyfacts.
The number of sub-prime loans that are widely available has dived from 204 to just eight during the past week alone, leaving the products accounting for 0.5% of all mortgages, compared with 12.3% at the end of March.
At the same time, the rates charged on the loans are prohibitively expensive, with sub-prime borrowers looking at paying interest of at least 8%, despite the fact that the Bank of England base rate is now at a record low of 0.5%.
The steep fall in the number of sub-prime mortgages available has been driven by GE Money Home Lending's decision to limit the volume of business it does.
Link to the full article: Channel 4 News PA News
9,000 job cuts 'truly devastating'
Link to the article: Channel 4 Newss
Last Modified: 07 Apr 2009
By: John Sparks
Critics highlight the uncertainty confronting RBS staff facing job cuts compared with the huge pension being paid to the former chief executive Sir Fred Goodwin.
Described by a union as "truly devastating", Royal Bank of Scotland unveiled plans today to axe 9,000 jobs over the next two years.
Half those cuts will be in the UK, with back office functions like IT and property management to bear the brunt.
RBS, which is now 70 per cent owned by the government, said the job losses were needed as it tries to save £2.5bn.
Last Modified: 07 Apr 2009
By: John Sparks
Critics highlight the uncertainty confronting RBS staff facing job cuts compared with the huge pension being paid to the former chief executive Sir Fred Goodwin.
Described by a union as "truly devastating", Royal Bank of Scotland unveiled plans today to axe 9,000 jobs over the next two years.
Half those cuts will be in the UK, with back office functions like IT and property management to bear the brunt.
RBS, which is now 70 per cent owned by the government, said the job losses were needed as it tries to save £2.5bn.
End of the innocence
Link to the article: Channel 4 News
Last Modified: 07 Apr 2009
By: Harry Anscombe
Innocent Smoothies have just sold out, in part anyway, to Coca Cola, but More4 News asks whether ethically aware consumers should care.
This is just the latest example in a long line of big multinational companies buying a stake in an ethical company.
The people behind Ben and Jerry ice cream, the Body Shop, Green and Black chocolate all fashioned for themselves a cutting edge, fun, ethical image, before selling part or all of their businesses to a big corporation.
Harry Anscombe reports
Last Modified: 07 Apr 2009
By: Harry Anscombe
Innocent Smoothies have just sold out, in part anyway, to Coca Cola, but More4 News asks whether ethically aware consumers should care.
This is just the latest example in a long line of big multinational companies buying a stake in an ethical company.
The people behind Ben and Jerry ice cream, the Body Shop, Green and Black chocolate all fashioned for themselves a cutting edge, fun, ethical image, before selling part or all of their businesses to a big corporation.
Harry Anscombe reports
Unlocking Bolivia's lithium wealth
Link to the article: Channel 4 News
By Lindsey Hilsum
High in the Andes lie the world's largest reserves of lithium, the metal which is likely to help power the electric and hybrid vehicles of the future.
The lithium is locked in the brine of Salar de Uyuni, the largest salt flats in the world.
If oil transformed the wealth and economic clout of the Middle East during the last century is lithium about to do the same for South America's poorest country, Bolivia?
With demand predicted to massively outstrip supply companies from across the world are now queuing up to register their interest with a government that's determined to keep its resources under state control.
By Lindsey Hilsum
High in the Andes lie the world's largest reserves of lithium, the metal which is likely to help power the electric and hybrid vehicles of the future.
The lithium is locked in the brine of Salar de Uyuni, the largest salt flats in the world.
If oil transformed the wealth and economic clout of the Middle East during the last century is lithium about to do the same for South America's poorest country, Bolivia?
With demand predicted to massively outstrip supply companies from across the world are now queuing up to register their interest with a government that's determined to keep its resources under state control.
Friday, 3 April 2009
Mandelson on G20 deal
Link to the artilce: BBC Newsnight
The Business Secretary Lord Mandelson has spent years trying to negotiate a world trade deal in the Doha round and now, among other things, is trying to help save what he can of the British car industry.
He joined Gavin Esler to discuss how the outcomes of the G20 summit will affect us.
The Business Secretary Lord Mandelson has spent years trying to negotiate a world trade deal in the Doha round and now, among other things, is trying to help save what he can of the British car industry.
He joined Gavin Esler to discuss how the outcomes of the G20 summit will affect us.
George Soros on G20 deal
Link to the interview: BBC Newsnight
Businessman and investor George Soros said before Thursday's G20 meeting that the summit was "make or break".
He joined Gavin Esler to discuss the deal.
Businessman and investor George Soros said before Thursday's G20 meeting that the summit was "make or break".
He joined Gavin Esler to discuss the deal.
RBS shareholders against payouts
Link to the article: Channel 4
Last Modified: 03 Apr 2009
By: John Sparks
Those close to Sir Fred Goodwin deny he is "considering" a voluntary reduction to his pension, despite RBS's new chairman saying just that.
Public outrage at RBS has spilled into its annual general meeting with 90 per cent of shareholders voting against the banks pay and pension policy, including the controversial payout to Sir Fred.
The vote does not mean that RBS's former boss can be compelled to pay any of his pension back, however.
Last Modified: 03 Apr 2009
By: John Sparks
Those close to Sir Fred Goodwin deny he is "considering" a voluntary reduction to his pension, despite RBS's new chairman saying just that.
Public outrage at RBS has spilled into its annual general meeting with 90 per cent of shareholders voting against the banks pay and pension policy, including the controversial payout to Sir Fred.
The vote does not mean that RBS's former boss can be compelled to pay any of his pension back, however.
Thursday, 2 April 2009
$1.1 trillion to save the world
Link to the article: Channel 4 News
Last Modified: 02 Apr 2009
By: Gary Gibbon
A $1.1tr (trillion) fix for the global economy - that's the deal finally agreed by the world's most powerful leaders.
It's new money and a new method of injecting it into the global system.
The International Monetary Fund will be given vastly more resources to help troubled economies get spending again, issuing what amounts to its own special currency.
The final communique also promises a clampdown on tax havens, controls on bankers pay and more money to support world trade.
Even France and Germany signed up to what they called a "very good, almost historic compromise". But will it actually work?
Economics correspondent Faisal Islam analyses the G20 deal.
Last Modified: 02 Apr 2009
By: Gary Gibbon
A $1.1tr (trillion) fix for the global economy - that's the deal finally agreed by the world's most powerful leaders.
It's new money and a new method of injecting it into the global system.
The International Monetary Fund will be given vastly more resources to help troubled economies get spending again, issuing what amounts to its own special currency.
The final communique also promises a clampdown on tax havens, controls on bankers pay and more money to support world trade.
Even France and Germany signed up to what they called a "very good, almost historic compromise". But will it actually work?
Economics correspondent Faisal Islam analyses the G20 deal.
1979 - 2009: Thatcherism R.I.P?
Link to the article: Channel 4
Last Modified: 02 Apr 2009
By: Keme Nzerem
The world hopes today saw the birth of an economic recovery. More4 News asks if it also marks the end of an economic ideology that has prevailed in the West for the last 30 years?
So, will future historians define today as the end of Thatcherism?
The supremacy of a lightly regulated financial sector, the belief in market forces - the ideology, call it Thatcherism or Reaganomics, that dominated Britain and America for 30 years - did it all end?
Last Modified: 02 Apr 2009
By: Keme Nzerem
The world hopes today saw the birth of an economic recovery. More4 News asks if it also marks the end of an economic ideology that has prevailed in the West for the last 30 years?
So, will future historians define today as the end of Thatcherism?
The supremacy of a lightly regulated financial sector, the belief in market forces - the ideology, call it Thatcherism or Reaganomics, that dominated Britain and America for 30 years - did it all end?
Wednesday, 1 April 2009
German Finance Minister on G20
Link to the article: BBC Newsnight
French President Nicolas Sarkozy and German Chancellor Angela Merkel are to hold a joint press conference on Wednesday, fuelling speculation of a united front against UK and US calls for further co-ordinated fiscal stimulus.
Jeremy Paxman spoke to the German Finance Minister Peer Steinbruck and began by asking him if the Germans would follow the French out the door if they do not get what they want at the G20.
French President Nicolas Sarkozy and German Chancellor Angela Merkel are to hold a joint press conference on Wednesday, fuelling speculation of a united front against UK and US calls for further co-ordinated fiscal stimulus.
Jeremy Paxman spoke to the German Finance Minister Peer Steinbruck and began by asking him if the Germans would follow the French out the door if they do not get what they want at the G20.
The rift G20 hopes to heal
Link to the article: Channel 4
Last Modified: 01 Apr 2009
By: Faisal Islam
Gordon Brown hails the dawn of a new consensus, but France calls it a confrontation between "two worlds".
On one side, Britain and America are pushing for another huge injection of fiscal spending. On the other, France and Germany are leading demands for far tougher regulation.
So what would it take to bring the world's economies back into balance?
Last Modified: 01 Apr 2009
By: Faisal Islam
Gordon Brown hails the dawn of a new consensus, but France calls it a confrontation between "two worlds".
On one side, Britain and America are pushing for another huge injection of fiscal spending. On the other, France and Germany are leading demands for far tougher regulation.
So what would it take to bring the world's economies back into balance?
Interview: Robert Zoellick
Link to the article: Channel 4
Last Modified: 01 Apr 2009
By: Jon Snow
Jon Snow interviews the president of the World Bank, Robert Zoellick, about whether he believes we need more fiscal stimulus?
Last Modified: 01 Apr 2009
By: Jon Snow
Jon Snow interviews the president of the World Bank, Robert Zoellick, about whether he believes we need more fiscal stimulus?
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