Link to the article
Last Modified: 31 Jan 2009
By: Carl Dinnen
Gordon Brown may have been insisting in Davos he was confident about Britain's economic future - but is anyone else?
PY Gerbeau, a French businessman and eternal optimist, tells Channel 4 News it's in the British national character to always see the glass as half empty. But if Britain badly needs to regain some confidence where can we get it?
Saturday, 31 January 2009
Friday, 30 January 2009
Strikers put Brown's promise of 'British jobs' to the test
Link to article at Channel 4
Last Modified: 30 Jan 2009
By: Siobhan Kennedy
'British jobs for British workers' Gordon Brown promised last year. But the phrase looked increasingly meaningless as ministers admitted nothing could be done to favour them, and warned against any moves to protectionism.
In Lincolnshire, where the dispute started over foreign workers on a construction site, unions and contractors are to meet at the conciliation service Acas.
Krishnan Guru-Murthy spoke to the Minister for Employment Relations Pat McFadden. He put to him that given European law he would have to tell the strikers they were wrong.
Last Modified: 30 Jan 2009
By: Siobhan Kennedy
'British jobs for British workers' Gordon Brown promised last year. But the phrase looked increasingly meaningless as ministers admitted nothing could be done to favour them, and warned against any moves to protectionism.
In Lincolnshire, where the dispute started over foreign workers on a construction site, unions and contractors are to meet at the conciliation service Acas.
Krishnan Guru-Murthy spoke to the Minister for Employment Relations Pat McFadden. He put to him that given European law he would have to tell the strikers they were wrong.
Debate: What do the protests really tell us?
Link to the article
Emily Maitlis is joined by Lord Brittan, Former European Commissioner, Brendan Barber, Secretary General of the TUC, and Daniel Hannan, Conservative MEP to discuss the significance of the French protests.
Emily Maitlis is joined by Lord Brittan, Former European Commissioner, Brendan Barber, Secretary General of the TUC, and Daniel Hannan, Conservative MEP to discuss the significance of the French protests.
The unravelling of the Eurozone?
Link to the article
More than a million people took to the streets of France on Thursday in the first violent protest of the current global recession. Paul Mason examines how much the single currency has to do with these economic crises.
More than a million people took to the streets of France on Thursday in the first violent protest of the current global recession. Paul Mason examines how much the single currency has to do with these economic crises.
Brown: protectionism hurts prosperity
Link to article at Channel 4
Last Modified: 30 Jan 2009
By: Faisal Islam
The prime minister's speech at Davos warns against protectionism, which he says could have a huge impact on prosperity in every part of the world.
Gordon Brown, in Switzerland at the World Economic Forum, said he understood people's worries about jobs and employment.
Last Modified: 30 Jan 2009
By: Faisal Islam
The prime minister's speech at Davos warns against protectionism, which he says could have a huge impact on prosperity in every part of the world.
Gordon Brown, in Switzerland at the World Economic Forum, said he understood people's worries about jobs and employment.
Thursday, 29 January 2009
German jobless totals rise again
Link to article and video report at Euronews
In another sign that Europe’s largest economy is in a deep recession, German unemployment rose in January for the third straight month. It was the biggest increase in nearly four years.
As the Federal Labour Office statistics were released economists predicted further significant jobless rises.
The headline total in Germany – which is not adjusted for seasonal factors – rose by 387,000 to almost 3.5 million. The Berlin government only recently predicted that total would not be reached until the end of this year.
That is 8.3 percent of the working population.
The figures have political significance with a national election due in September.
The Employment Minister Olaf Scholz, said: “It is very clear that the worldwide crisis is effecting the German job market. Looking at the figures, you can see a better trend than in the past few years. Nevertheless, it is quite obvious that unemployment is on the rise because of the economic problems that we’re seeing right now.”
German companies are slashing jobs in response to the deepening recession as demand falls for their goods and services.
People frightened of losing their jobs are delaying making major purchases, like cars; vehicle sales are predicted to fall 6.5 percent this year.
Volkswagen, Daimler and BMW have suspended production, cancelled shifts and shortened working hours.
In another sign that Europe’s largest economy is in a deep recession, German unemployment rose in January for the third straight month. It was the biggest increase in nearly four years.
As the Federal Labour Office statistics were released economists predicted further significant jobless rises.
The headline total in Germany – which is not adjusted for seasonal factors – rose by 387,000 to almost 3.5 million. The Berlin government only recently predicted that total would not be reached until the end of this year.
That is 8.3 percent of the working population.
The figures have political significance with a national election due in September.
The Employment Minister Olaf Scholz, said: “It is very clear that the worldwide crisis is effecting the German job market. Looking at the figures, you can see a better trend than in the past few years. Nevertheless, it is quite obvious that unemployment is on the rise because of the economic problems that we’re seeing right now.”
German companies are slashing jobs in response to the deepening recession as demand falls for their goods and services.
People frightened of losing their jobs are delaying making major purchases, like cars; vehicle sales are predicted to fall 6.5 percent this year.
Volkswagen, Daimler and BMW have suspended production, cancelled shifts and shortened working hours.
Darling ducks out as dark clouds hang over 'downturn Davos'
Link to article
Last Modified: 29 Jan 2009
By: Faisal Islam
Fears of protectionism, global instability and the failure of politicians to cope haunt those gathered at the economic summit in Davos.
There were plenty more warnings for western leaders at Davos today. India's trade minister joined the head of the world trade body, urging countries not to safeguard their own national interests and jobs at the expense of others.
Little wonder perhaps that the Chancellor Alastair Darling has just cancelled his plans to attend.
Last Modified: 29 Jan 2009
By: Faisal Islam
Fears of protectionism, global instability and the failure of politicians to cope haunt those gathered at the economic summit in Davos.
There were plenty more warnings for western leaders at Davos today. India's trade minister joined the head of the world trade body, urging countries not to safeguard their own national interests and jobs at the expense of others.
Little wonder perhaps that the Chancellor Alastair Darling has just cancelled his plans to attend.
Money transfers hit by low pound
Link to article
Last Modified: 29 Jan 2009
By: Ben King
The pound has been at a record low against other world currencies - and that is affecting the people who send money to their families in the developing world.
Money is often sent home to help with school fees, building costs or medical expenses.
It is worth more than three times the value of world aid spending - but families in Britain are finding that their pounds buy considerably less money for their families abroad than it did six months ago.
Last Modified: 29 Jan 2009
By: Ben King
The pound has been at a record low against other world currencies - and that is affecting the people who send money to their families in the developing world.
Money is often sent home to help with school fees, building costs or medical expenses.
It is worth more than three times the value of world aid spending - but families in Britain are finding that their pounds buy considerably less money for their families abroad than it did six months ago.
Wednesday, 28 January 2009
Credit crunch takes the shine off Davos
Link to article
Last Modified: 28 Jan 2009
By: Faisal Islam
The Davos summit has traditionally been a gathering of the world's wealthy elite. Faisal Islam reports on how fears of long-term recession has changed all that.
Bankers, ministers, glitzy parties - in these challenging times, they are all thin on the ground at the global economic summit in Davos.
The four-day gathering of the world's business and political elite kicked off today at the exclusive Swiss ski resort.
But it is looking very different this year, with fears of a long-term recession and confidence in the future reaching a new low.
Last Modified: 28 Jan 2009
By: Faisal Islam
The Davos summit has traditionally been a gathering of the world's wealthy elite. Faisal Islam reports on how fears of long-term recession has changed all that.
Bankers, ministers, glitzy parties - in these challenging times, they are all thin on the ground at the global economic summit in Davos.
The four-day gathering of the world's business and political elite kicked off today at the exclusive Swiss ski resort.
But it is looking very different this year, with fears of a long-term recession and confidence in the future reaching a new low.
Britain 'bottom of the economy league'
Link to article
Last Modified: 28 Jan 2009
By: Siobhan Kennedy
The British economy is set to shrink faster than any other in the developing world, according to the International Monetary Fund. Siobhan Kennedy reports
The IMF's World Economic Outlook report says world economic growth will fall to a near standstill this year - the worst forecast for 60 years. And it warns Britain will be the hardest hit of all.
The Conservatives said it showed the "true cost of Gordon Brown's failure" but the prime minister insisted he was taking the right action to get Britain through the global recession
Interview: Kenneth Clarke
Krishnan Guru-Murphy interviews the shadow business secretary Ken Clarke.
Last Modified: 28 Jan 2009
By: Siobhan Kennedy
The British economy is set to shrink faster than any other in the developing world, according to the International Monetary Fund. Siobhan Kennedy reports
The IMF's World Economic Outlook report says world economic growth will fall to a near standstill this year - the worst forecast for 60 years. And it warns Britain will be the hardest hit of all.
The Conservatives said it showed the "true cost of Gordon Brown's failure" but the prime minister insisted he was taking the right action to get Britain through the global recession
Interview: Kenneth Clarke
Krishnan Guru-Murphy interviews the shadow business secretary Ken Clarke.
Why one country's rescue package could be another's ruin
Link to the article
Last Modified: 28 Jan 2009
By: Faisal Islam
As the world's economic and political leaders prepare to meet in Davos for the World Economic Forum, Faisal Islam looks at the downside of bailouts.
It's Pascal Lamy's responsibility to prevent the severe recession now affecting two-thirds of the world economy turning to a depression.
His organisation, the World Trade Organisation, is an "insurance policy against the 1930s" he says.
I have wondered for some time what the world's high priests of globalisation have thought about the bailouts of banks, insurers, car companies, and in France, even the newspapers.
It's the world's biggest rescue act - right across the globe, governments are bailing out businesses.
Supposedly free market politicians are pumping their taxpayers' cash in to the private sector. But when does industrial rescue become unfair protectionism and is this leading to a 1930s-style trade war?
"If you look at that from the side of developing countries who, by definition, cannot afford big bailout packages simply because they don't have the money - let's not make a system [that] we have been trying, in recent years, to make more development friendly, let's not make it development adverse," Lamy says.
The fear is that developing countries may resort to straightforward tariff barriers if they can not protect their industries with actual bailouts.
So far Lamy says he only sees "small waves" of protectionism. It's important to remember that WTO rules allow a bit of wiggle room for countries in a downturn.
The problem is that as bailouts fail to boost economies, or those bailouts begin to have a protectionist tinge, small waves can start to turn in to a rather large swell.
One country's rescue package can be another's ruin.
Last Modified: 28 Jan 2009
By: Faisal Islam
As the world's economic and political leaders prepare to meet in Davos for the World Economic Forum, Faisal Islam looks at the downside of bailouts.
It's Pascal Lamy's responsibility to prevent the severe recession now affecting two-thirds of the world economy turning to a depression.
His organisation, the World Trade Organisation, is an "insurance policy against the 1930s" he says.
I have wondered for some time what the world's high priests of globalisation have thought about the bailouts of banks, insurers, car companies, and in France, even the newspapers.
It's the world's biggest rescue act - right across the globe, governments are bailing out businesses.
Supposedly free market politicians are pumping their taxpayers' cash in to the private sector. But when does industrial rescue become unfair protectionism and is this leading to a 1930s-style trade war?
"If you look at that from the side of developing countries who, by definition, cannot afford big bailout packages simply because they don't have the money - let's not make a system [that] we have been trying, in recent years, to make more development friendly, let's not make it development adverse," Lamy says.
The fear is that developing countries may resort to straightforward tariff barriers if they can not protect their industries with actual bailouts.
So far Lamy says he only sees "small waves" of protectionism. It's important to remember that WTO rules allow a bit of wiggle room for countries in a downturn.
The problem is that as bailouts fail to boost economies, or those bailouts begin to have a protectionist tinge, small waves can start to turn in to a rather large swell.
One country's rescue package can be another's ruin.
No blank cheque for car industry
Last Modified: 27 Jan 2009
By: Siobhan Kennedy
The government will provide guarantees of up to £1.3bn to the car manufacturers, but Lord Mandelson warns it is not a bailout.
Business Secretary Lord Mandelson said he was not offering struggling firms a blank cheque. But the cash would unlock £1.3bn of loans from Europe to fund investment in eco-friendly vehicles.
The Conservatives dismissed the package as "pretty small beer", while union leaders said it was a fraction of the support being offered elsewhere in Europe.
Lord Mandelson
Business Secretary Lord Mandelson joins Jon Snow from Westminster.
'Beware protectionism' says WTO head
Link to article
Last Modified: 27 Jan 2009
By: Faisal Islam
The head of the World Trade Organisation exclusively warns this programme that anti-globalisation forces stalk the recession.
Go it alone policies won't solve the world's economic crisis, they'll just make it worse.
That is the warning from Pascal Lamy, the man in charge of defending the world's free trade system.
Speaking exclusively to Channel 4 News, he raised concerns about the string of car and bank bailouts around the world, as they could mark the beginning of a return to protectionism.
And he's waiting to see whether President Obama will be as committed to free trade as previous American administrations.
Exclusive interview: Pascal Lamy
Last Modified: 27 Jan 2009
By: Faisal Islam
The head of the World Trade Organisation exclusively warns this programme that anti-globalisation forces stalk the recession.
Go it alone policies won't solve the world's economic crisis, they'll just make it worse.
That is the warning from Pascal Lamy, the man in charge of defending the world's free trade system.
Speaking exclusively to Channel 4 News, he raised concerns about the string of car and bank bailouts around the world, as they could mark the beginning of a return to protectionism.
And he's waiting to see whether President Obama will be as committed to free trade as previous American administrations.
Exclusive interview: Pascal Lamy
Tuesday, 27 January 2009
Corus cuts jobs as orders fall 40 per cent
Link to article
Last Modified: 26 Jan 2009
By: Darshna Soni
Steel giant Corus says it is cutting 3,500 jobs around the world, 2,500 of them in Britain.
One union described the move as "a body blow to UK manufacturing".
What survived of British Steel after the last recession became Corus, now owned by the Indian conglomerate Tata.
It says orders globally are down by up to 40 per cent and it must make efficiency savings in the face of falling demand.
One of the worst hit areas is Wales with over 1,000 job losses, 600 of them at steel mill in Llanwern.
A further 1,400 jobs are to go at other UK sites, including 108 at Wednesbury in the West Midlands, 93 in Scunthorpe, 61 at Wolverhampton and 713 in Rotherham in Yorkshire.
Last Modified: 26 Jan 2009
By: Darshna Soni
Steel giant Corus says it is cutting 3,500 jobs around the world, 2,500 of them in Britain.
One union described the move as "a body blow to UK manufacturing".
What survived of British Steel after the last recession became Corus, now owned by the Indian conglomerate Tata.
It says orders globally are down by up to 40 per cent and it must make efficiency savings in the face of falling demand.
One of the worst hit areas is Wales with over 1,000 job losses, 600 of them at steel mill in Llanwern.
A further 1,400 jobs are to go at other UK sites, including 108 at Wednesbury in the West Midlands, 93 in Scunthorpe, 61 at Wolverhampton and 713 in Rotherham in Yorkshire.
Saturday, 24 January 2009
Jon Snow talks to Alistair Darling
Link to article
Last Modified: 23 Jan 2009
By: Jon Snow
Chancellor Alistair Darling talks to Jon Snow on the day that official government figures confirm the UK is in recession for the first time since 1991.
Gross domestic product plummeted by 1.5 per cent in the last three months of 2008, after a 0.6 per cent fall in the previous quarter.
This means economic growth has fallen two quarters in a row, which is the accepted definition of a recession.
Last Modified: 23 Jan 2009
By: Jon Snow
Chancellor Alistair Darling talks to Jon Snow on the day that official government figures confirm the UK is in recession for the first time since 1991.
Gross domestic product plummeted by 1.5 per cent in the last three months of 2008, after a 0.6 per cent fall in the previous quarter.
This means economic growth has fallen two quarters in a row, which is the accepted definition of a recession.
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