Link to the article: Channel 4 News
UK economic growth in the third quarter grew by a better than expected 0.8 per cent. Our Economics Editor, Faisal Islam says it's the best day of news for George Osborne since he became Chancellor.
Tuesday, 26 October 2010
Wednesday, 20 October 2010
Unions Condemn Spending Review Job Losses
Link to the article: Channel 4 News
George Osborne said it was the day Britain stepped back from the brink. But union leaders tell Channel 4 News the spending review will lead to "wholesale unemployment".
The Chancellor confirmed that almost 500,000 public sector jobs were set to be axed as a result of the spending review, leading to warnings from union leaders that the UK was being condemned to "unnecessary wholesale unemployment".
Unison described the cuts as "ideologically driven" and accused the Government of failing to consider that there was a fairer alternative.
Monday, 11 October 2010
IMF fails to curb currency war fears
OCT.11 - Fears of an international currency war grow as International Monetary Fund weekend meeting fails to tackle tensions in money markets.Penny Tweedie reports.
Microsoft unveils new phones
Oct 11 - Summary of the early headlines: Microsoft aims to restart mobile phone unit; Wall Street expecting big bonus. Conway G. Gittens reports
Virgin spaceship's first solo flight
Oct 11 - The world's first commercial spacecraft, operated by Virgin Group, successfully completes its inaugural solo test flight.
Emerging economies snap up big brands
Link to the article: Financial Times
By Louise Lucas in London
Emerging market buyers are swooping on food and drink assets in the developed world – in some cases relieving private equity investors of holdings that have already been shuffled between sponsors.
Bright Food of China is in exclusive talks to buy United Biscuits from private equity owners Blackstone and PAI Partners in a deal that would value the maker of British favourites such as Jaffa Cakes and Twiglets at £2.5bn ($4bn), it emerged last month.
By Louise Lucas in London
Emerging market buyers are swooping on food and drink assets in the developed world – in some cases relieving private equity investors of holdings that have already been shuffled between sponsors.
Bright Food of China is in exclusive talks to buy United Biscuits from private equity owners Blackstone and PAI Partners in a deal that would value the maker of British favourites such as Jaffa Cakes and Twiglets at £2.5bn ($4bn), it emerged last month.
Monday, 27 September 2010
Bank of England: Savers Should Eat Into Cash
Link to the article: Channel 4 News
Exclusive: Bank of England Deputy Governor Charlie Bean tells Channel 4 News Britain's savers should "eat into" their reserve cash now to help them survive historically low interest rates.
Exclusive: Bank of England Deputy Governor Charlie Bean tells Channel 4 News Britain's savers should "eat into" their reserve cash now to help them survive historically low interest rates.
Thursday, 23 September 2010
Link to the article: Chnnel 4 News
The economic euphoria of the 'go go years' quickly turned to bust as the credit crisis rocked banks and entire continents. But what lessons have been learned by global finance?
Tuesday, 7 September 2010
Google reveals TV plans
Sep. 7 - The internet search giant Google is planning to launch its TV service in the U.S. this autumn according to Chief Executive Eric Schmidt. (00:56)
Friday, 27 August 2010
UK Economic Growth Overshadowed by US Data
Link to the article: Channel 4 News
The US Federal Reserve says it will "do all that it can" to prevent a double-dip recession as US growth is revised sharply lower. David Blanchflower explains how this threatens UK economic growth.
Mr Blanchflower, former Bank of England policymaker, said all the evidence from 2008 shows that a few months after the US went into a deep recession, the UK followed. The UK economy posted its best quarterly performance in almost a decade today. Output in the UK grew by 1.2 per cent during the second quarter of 2010, the Office for National Statistics said, surpassing previous estimates of 1.1 per cent gross domestic product (GDP) growth.
Friday, 23 July 2010
Tuesday, 22 June 2010
Age of Austerity: Political Response
Link to the article: Channel 4 News
George Osborne's emergency budget kick-started the government's plans to cut the deficit. Was he VATman, public spending slasher, or responsible chancellor, asked political editor Gary Gibbon.
George Osborne's emergency budget kick-started the government's plans to cut the deficit. Was he VATman, public spending slasher, or responsible chancellor, asked political editor Gary Gibbon.
Sunday, 9 May 2010
BP seek solution after oil spill setback
Link to the article: Channel 4 News
By Julian Rush
Updated on 09 May 2010
Methane ice crystals halt BP's attempt to stem the flow of oil gushing from its well in the Gulf of Mexico. Methane too may have been the original cause of the fire.
The huge, 93 ton, steel and concrete box that BP had hoped to place over the leaking pipe from the well head has been moved 200 metres to one side while engineers decide what to do.
As they lowered it into position, a sludge of methane ice crystals began forming in the top of the box, clogging the hole where BP had hoped to fit a pipe to take the oil to a ship on the surface.
The methane comes from the oil itself, dissolved in it in the pores of the rock beneath the sea bed. Indeed, methane may have been the cause of the original fire.
Professor Robert Bea from the University of California Berkeley, a former engineering consultant to BP, says he has seen transcripts of interviews with three survivors of the blast on the Deepwater Horizon rig. They say a gusher of oil and water spurted out of the top of the drill pipe on the rig as a bubble of methane gas rose up the drill column from the depths.
Alarms designed to warn of the highly flammable gas failed to go off, they said, and the huge cloud of invisible, odourless methane enveloped the rig and was ignited, perhaps by a spark from electrical equipment or motors.
By Julian Rush
Updated on 09 May 2010
Methane ice crystals halt BP's attempt to stem the flow of oil gushing from its well in the Gulf of Mexico. Methane too may have been the original cause of the fire.
The huge, 93 ton, steel and concrete box that BP had hoped to place over the leaking pipe from the well head has been moved 200 metres to one side while engineers decide what to do.
As they lowered it into position, a sludge of methane ice crystals began forming in the top of the box, clogging the hole where BP had hoped to fit a pipe to take the oil to a ship on the surface.
The methane comes from the oil itself, dissolved in it in the pores of the rock beneath the sea bed. Indeed, methane may have been the cause of the original fire.
Professor Robert Bea from the University of California Berkeley, a former engineering consultant to BP, says he has seen transcripts of interviews with three survivors of the blast on the Deepwater Horizon rig. They say a gusher of oil and water spurted out of the top of the drill pipe on the rig as a bubble of methane gas rose up the drill column from the depths.
Alarms designed to warn of the highly flammable gas failed to go off, they said, and the huge cloud of invisible, odourless methane enveloped the rig and was ignited, perhaps by a spark from electrical equipment or motors.
Monday, 3 May 2010
BP Gulf Coast oil spill poses 'logistical nightmare'
Link to the article: Channel 4 News
By Channel 4 News
Updated on 03 May 2010
As BP admits the operation to keep its oil spill away from the Louisiana coast could take three months, one expert tells Alex Thomson it is "a logistical nightmare".
The race to keep the oil offshore, as BP admits it could be three months before the leak is fully sealed.
Today saw a further fall in BP’s share price mid the unfolding disaster in the Gulf of Mexico. How long will it take to tame the gushing well 5,000 feet below sea level?
The company hopes to drop a dome over it before siphoning the oil flow away - but that will take a week. And to stem the leak altogether could take at least three months.
Tony Hayward, the head of BP, promised today that the company would pay for the leak, as he outlined plans to try to contain the massive oil spill in the Gulf of Mexico . President Obama has called the leak a “massive and potentially unprecedented environmental disaster”.
Mr Hayward admitted it could be three months before the flow of oil from the ruptured well is capped. For now, the company is trying to drop giant metal hoods directly over the leaking pipe.
The spill has been growing steadily since an explosion sank the Deepwater Horizon rig eleven days ago. Scientists think it may have tripled in size and could threaten coastlines further east - towards Alabama.
By Channel 4 News
Updated on 03 May 2010
As BP admits the operation to keep its oil spill away from the Louisiana coast could take three months, one expert tells Alex Thomson it is "a logistical nightmare".
The race to keep the oil offshore, as BP admits it could be three months before the leak is fully sealed.
Today saw a further fall in BP’s share price mid the unfolding disaster in the Gulf of Mexico. How long will it take to tame the gushing well 5,000 feet below sea level?
The company hopes to drop a dome over it before siphoning the oil flow away - but that will take a week. And to stem the leak altogether could take at least three months.
Tony Hayward, the head of BP, promised today that the company would pay for the leak, as he outlined plans to try to contain the massive oil spill in the Gulf of Mexico . President Obama has called the leak a “massive and potentially unprecedented environmental disaster”.
Mr Hayward admitted it could be three months before the flow of oil from the ruptured well is capped. For now, the company is trying to drop giant metal hoods directly over the leaking pipe.
The spill has been growing steadily since an explosion sank the Deepwater Horizon rig eleven days ago. Scientists think it may have tripled in size and could threaten coastlines further east - towards Alabama.
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