Link to the article: Channel 4 News
Bank of England Governor Mervyn King warns of great uncertainty for the UK economy.
Unveiling the bank’s quarterly inflation report, King said: "The economy will heal, but the process may be slow."
He said that this recession was unlike previous ones.
And he noted that there were reasons for optimism - but that rising public debt and the damaged banking system could still delay a recovery.
Wednesday, 13 May 2009
Tuesday, 5 May 2009
EU groups explained with cake
Link to the article: BBC News
European Union wide elections are due in June and the final session of the current European Parliament is underway in Strasbourg.
Dominic Hughes looks at how the 700-plus MEPs from 27 countries will work together.
European Union wide elections are due in June and the final session of the current European Parliament is underway in Strasbourg.
Dominic Hughes looks at how the 700-plus MEPs from 27 countries will work together.
What does an EU commissioner do?
Link to the article: BBC News
As the European elections get closer, BBC News has been to parliament to find out more about who works there and what they do.
Benita Ferrero-Waldner is an EU Commissioner who spends most of her time in Brussels and Strasbourg attending meetings, briefings and press conferences.
As the European elections get closer, BBC News has been to parliament to find out more about who works there and what they do.
Benita Ferrero-Waldner is an EU Commissioner who spends most of her time in Brussels and Strasbourg attending meetings, briefings and press conferences.
What does an MEP do?
Link to the article: BBC News
Every country in Europe is represented in the European parliament by elected members - MEPs.
But what do MEPs do? Proinsias de Rossa is an MEP for Ireland and splits his time between Brussels, Strasbourg and Dublin.
Every country in Europe is represented in the European parliament by elected members - MEPs.
But what do MEPs do? Proinsias de Rossa is an MEP for Ireland and splits his time between Brussels, Strasbourg and Dublin.
Monday, 4 May 2009
Expat business slows in Spain
Link to the article: BBC News
Many people from Britain have moved to Spain in search of the good life, but the global slowdown is hitting those who have started businesses there.
Jenny Hill reports from Malaga.
Many people from Britain have moved to Spain in search of the good life, but the global slowdown is hitting those who have started businesses there.
Jenny Hill reports from Malaga.
European economy 'will shrink 4%'
Link to the article: BBC News
The European Commission has said that the EU economy is now in its deepest recession since the second world war.
New figures released have forecasted that the economy will shrink by four per cent this year.
The forecasts are worse than previously expected, with as many as 8.5 million jobs expected to disappear, wiping out the number of new jobs created in the past year.
Mark Gregory reports.
The European Commission has said that the EU economy is now in its deepest recession since the second world war.
New figures released have forecasted that the economy will shrink by four per cent this year.
The forecasts are worse than previously expected, with as many as 8.5 million jobs expected to disappear, wiping out the number of new jobs created in the past year.
Mark Gregory reports.
Friday, 1 May 2009
Banking system 'failed at all levels'
Link to the article: Channel 4 News
A Parliamentary report concludes that bank chiefs were to blame for the economic crisis, but are they letting government and the regulators off the hook?
The number of companies going into administration or liquidation has risen by more than 50 per cent in the first quarter of the year.
The figures, released this morning by the Insolvency Service, came as the Commons' treasury committee launched a report accusing banks of failing to lend enough money to help struggling firms through the recession.
The committee said that Britain had suffered "a comprehensive failure of the banking system at all levels".
A Parliamentary report concludes that bank chiefs were to blame for the economic crisis, but are they letting government and the regulators off the hook?
The number of companies going into administration or liquidation has risen by more than 50 per cent in the first quarter of the year.
The figures, released this morning by the Insolvency Service, came as the Commons' treasury committee launched a report accusing banks of failing to lend enough money to help struggling firms through the recession.
The committee said that Britain had suffered "a comprehensive failure of the banking system at all levels".
Wednesday, 29 April 2009
How badly has recession hit the US?
Link to the article: BBC Newsnight
Paul Mason has taken a road trip from Chicago, through Indiana, and back again, to find out how badly the recession has hit the US Midwest, and whether President Barack Obama's economic stimulus package appears to be working.
Paul Mason has taken a road trip from Chicago, through Indiana, and back again, to find out how badly the recession has hit the US Midwest, and whether President Barack Obama's economic stimulus package appears to be working.
Tuesday, 28 April 2009
How the European Parliament works
Link to the article; BBC News
Mark Mardell visits the European Parliament buildings in Brussels and Strasbourg to explain how MEPs contribute to the way Europe is run.
Mark Mardell visits the European Parliament buildings in Brussels and Strasbourg to explain how MEPs contribute to the way Europe is run.
Saturday, 25 April 2009
Fairtrade chocolate is just 'Divine'
Apr. 25 - British chocolate company 'Divine' leads as catalyst for change in chocolate market.
Divine has pioneered the market for Fair Trade chocolate for more than a decade and aims to change the way the chocolate industry works forever.
Divine has pioneered the market for Fair Trade chocolate for more than a decade and aims to change the way the chocolate industry works forever.
Friday, 24 April 2009
Biggest fall in output in 30 years
Link to the article: Channel 4 News
Today's dire figures, showing the UK economy declined by 1.9 per cent in the first three months of the year, take the Treasury by surprise.
It is the biggest fall in output for 30 years, casting doubt on Alistair Darling's hopes that the economy will start to recover by the end of the year.
Instead, the British economy is slumping deeper into recession than even the chancellor's gloomy budget predictions just two days ago.
Today's dire figures, showing the UK economy declined by 1.9 per cent in the first three months of the year, take the Treasury by surprise.
It is the biggest fall in output for 30 years, casting doubt on Alistair Darling's hopes that the economy will start to recover by the end of the year.
Instead, the British economy is slumping deeper into recession than even the chancellor's gloomy budget predictions just two days ago.
Spain's jobless rate soars to 17%
Link to the article: BBC News
Spain's unemployment rate hit 17.4% at the end of March, figures have shown, with the jobless total now having doubled over the past 12 months.
The government says help is on the way, but for now Spain is "in the eye of the perfect storm," as Steve Kingstone reports from Madrid.
Spain's unemployment rate hit 17.4% at the end of March, figures have shown, with the jobless total now having doubled over the past 12 months.
The government says help is on the way, but for now Spain is "in the eye of the perfect storm," as Steve Kingstone reports from Madrid.
Thursday, 23 April 2009
Budget 2009: day two verdict
Link to the article: Channel 4 News
Are the money saving schemes announced in the budget as eye-catching as they seem? Our panel of experts discuss the changes.
New changes announced in yesterday's budget included an increase on the amount you are allowed to put into tax-free ISA savings accounts. The rise goes up to £10,200 for everyone next year.
Also, a £2,000 discount for scrapping an old car was announced.
Discussing those schemes are Leonie Kerswill from the accountants PricewaterhouseCoopers and Kieren Puffett from Parkers, which tracks the prices of used cars.
Are the money saving schemes announced in the budget as eye-catching as they seem? Our panel of experts discuss the changes.
New changes announced in yesterday's budget included an increase on the amount you are allowed to put into tax-free ISA savings accounts. The rise goes up to £10,200 for everyone next year.
Also, a £2,000 discount for scrapping an old car was announced.
Discussing those schemes are Leonie Kerswill from the accountants PricewaterhouseCoopers and Kieren Puffett from Parkers, which tracks the prices of used cars.
Wednesday, 22 April 2009
Biggest peacetime rise in debt
Link to the article: Channel 4 News
The Chancellor Alistair Darling's budget speech was the grimmest in memory.
He predicted the biggest increase in the national debt outside wartime and the slowest growth in more than 60 years. The 10-year-long party of low taxes and high spending is over. Mr Darling revealed a fiscal hangover that will last decades.
National debt will soar to a record £175bn this year - more than since the second world war - and the economy will shrink by 3.5 per cent, its biggest dip in 60 years.
To help pay for it, there will be a raid on the rich. The tax rate will increase to 50 per cent for those earning £150,000 or more from next year.
Motorists will be hit as usual as fuel duty goes up by 2p a litre.
Similarly, alcohol duties go up by 2 per cent, putting 1p on a pint, along with tobacco duties which are up by the same amount, putting 1p on a pint of beer and adding 7p to a packet of 20 cigarettes.
The Chancellor Alistair Darling's budget speech was the grimmest in memory.
He predicted the biggest increase in the national debt outside wartime and the slowest growth in more than 60 years. The 10-year-long party of low taxes and high spending is over. Mr Darling revealed a fiscal hangover that will last decades.
National debt will soar to a record £175bn this year - more than since the second world war - and the economy will shrink by 3.5 per cent, its biggest dip in 60 years.
To help pay for it, there will be a raid on the rich. The tax rate will increase to 50 per cent for those earning £150,000 or more from next year.
Motorists will be hit as usual as fuel duty goes up by 2p a litre.
Similarly, alcohol duties go up by 2 per cent, putting 1p on a pint, along with tobacco duties which are up by the same amount, putting 1p on a pint of beer and adding 7p to a packet of 20 cigarettes.
Tuesday, 21 April 2009
UK 'overcoming recession', says Brown
Link to the article: Channel 4 - ITN News
Last Modified: 20 Apr 2009
Source: ITN
Speculation is growing as to the medicine Wednesday's Budget will handout to Britain's ailing economy.
Chancellor Alistair Darling delivered an upbeat message on YouTube at the weekend and the bullish mood was echoed by Prime Minister Gordon Brown who said that Britain is "overcoming" the recession.
But Mr Darling is under pressure to get to grips with the nation's debt and cut spending, while his own colleagues will be reminding him a General Election is less than 12 months away.
Shadow Chancellor George Osborne predicted the Treasury would forecast the longest recession since 1945 and urged Mr Darling to scrap the Government's "unrealistic" future spending plans.
This comes amid reports Mr Darling is already prepared to write off £60 billion that was lent to banks as part of their bailout.
He is expected to concede the Government will not claw back all the money it pumped into the financial sector.
Meanwhile, Mr Darling has been warned that plans to hike taxes for top earners are "very unlikely" to boost Treasury coffers.
The Institute for Fiscal Studies (IFS) said a 45 per cent tax rate for those on incomes above £150,000 would not raise the £1.6 billion anticipated by Chancellor Alistair Darling in his Pre-Budget Report last November.
Last Modified: 20 Apr 2009
Source: ITN
Speculation is growing as to the medicine Wednesday's Budget will handout to Britain's ailing economy.
Chancellor Alistair Darling delivered an upbeat message on YouTube at the weekend and the bullish mood was echoed by Prime Minister Gordon Brown who said that Britain is "overcoming" the recession.
But Mr Darling is under pressure to get to grips with the nation's debt and cut spending, while his own colleagues will be reminding him a General Election is less than 12 months away.
Shadow Chancellor George Osborne predicted the Treasury would forecast the longest recession since 1945 and urged Mr Darling to scrap the Government's "unrealistic" future spending plans.
This comes amid reports Mr Darling is already prepared to write off £60 billion that was lent to banks as part of their bailout.
He is expected to concede the Government will not claw back all the money it pumped into the financial sector.
Meanwhile, Mr Darling has been warned that plans to hike taxes for top earners are "very unlikely" to boost Treasury coffers.
The Institute for Fiscal Studies (IFS) said a 45 per cent tax rate for those on incomes above £150,000 would not raise the £1.6 billion anticipated by Chancellor Alistair Darling in his Pre-Budget Report last November.
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