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.
Monday, 27 September 2010
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.
Friday, 30 April 2010
Ecological disaster looms as oil from damaged BP well head reaches US shoreline
Link to the article: Channel 4 News
By Kris Jepson
Updated on 30 April 2010
The prospect of an ecological disaster looms along America’s vulnerable Gulf of Mexico coastline as oil from a damaged BP well head begins to wash ashore. But BP’s head of group media tells Channel 4 News that the cause of the accident is still not known.
It is BP’s fourth major incident in the United States in as many years.
The rig exploded last Friday, killing 11 men. One week on, oil is still belching out of the open well hole, 5,000 feet below sea level, at the rate of 5,000 barrels a day.
Desperate efforts have been launched to try to protect the wildlife habitats along the coast.
President Obama has ordered a complete halt on oil exploration in the area.
The White House has suspended any new exploration in the Gulf pending the review of last week's explosion on the Deepwater Horizon oil rig.
By Kris Jepson
Updated on 30 April 2010
The prospect of an ecological disaster looms along America’s vulnerable Gulf of Mexico coastline as oil from a damaged BP well head begins to wash ashore. But BP’s head of group media tells Channel 4 News that the cause of the accident is still not known.
It is BP’s fourth major incident in the United States in as many years.
The rig exploded last Friday, killing 11 men. One week on, oil is still belching out of the open well hole, 5,000 feet below sea level, at the rate of 5,000 barrels a day.
Desperate efforts have been launched to try to protect the wildlife habitats along the coast.
President Obama has ordered a complete halt on oil exploration in the area.
The White House has suspended any new exploration in the Gulf pending the review of last week's explosion on the Deepwater Horizon oil rig.
Sunday, 25 April 2010
China gains clout at World Bank
Link to the article: Reuters
Apr 25 - The World Bank agreed to give emerging economies greater influence in the institution, a shift that puts China third in voting power behind the U.S. and Japan. Jon Decker reports.
Apr 25 - The World Bank agreed to give emerging economies greater influence in the institution, a shift that puts China third in voting power behind the U.S. and Japan. Jon Decker reports.
Friday, 23 April 2010
Greece asks EU-IMF for rescue loans
Link to the article: Channel 4 News
By Channel 4 News
Updated on 23 April 2010
Debt-laden Greece has formally asked for a 45bn euro emergency bailout from the International Monetary Fund and the European Union.
The first injection of funds is expected in under a month, yet the news did little to ease uncertainty in the financial markets.
City experts deemed the move a temporary sticking plaster for a long-awaited bailout.
"The true fact of the matter is that 45 billion isn't enough to sort out the Greek problem", David Morrison, market strategist at GFT Global said.
Indeed, shares in Greek banks crept up just 0.1 per cent before the markets closed.
Meanwhile, queries over how the loan would be paid and what delays might occur were raised.
"Concerns remain during this transitory phase as regards the terms that will be asked for the loans with markets also watching the process of aid approval," said analyst Nick Galousis at Kappa Securities in Athens.
By Channel 4 News
Updated on 23 April 2010
Debt-laden Greece has formally asked for a 45bn euro emergency bailout from the International Monetary Fund and the European Union.
The first injection of funds is expected in under a month, yet the news did little to ease uncertainty in the financial markets.
City experts deemed the move a temporary sticking plaster for a long-awaited bailout.
"The true fact of the matter is that 45 billion isn't enough to sort out the Greek problem", David Morrison, market strategist at GFT Global said.
Indeed, shares in Greek banks crept up just 0.1 per cent before the markets closed.
Meanwhile, queries over how the loan would be paid and what delays might occur were raised.
"Concerns remain during this transitory phase as regards the terms that will be asked for the loans with markets also watching the process of aid approval," said analyst Nick Galousis at Kappa Securities in Athens.
Friday, 9 April 2010
Innocent smoothie denies sell-out after Coca-Cola gets majority stake
Link to the article: Guardian
Innocent insists founders will keep operational control despite 58% of shares going to Coca-Cola.
The founder of Innocent smoothies denied last night he had sold out to Coca Cola despite allowing the US multinational to swallow a 58% stake in the small and ethically-minded British business.
Richard Reed said the existing directors would continue to control Innocent and their goal of bringing healthy drinks to a global market could only be enhanced by a transaction estimated to be worth £75m.
"I genuinely believe that this is not a selling out but a continuation of our work. There will be no change in the commitment to natural healthy food, to sustainability and to giving 10% of our profits to charity.
"We remain in full operational control of the business and we should be able to proceed towards our goal of taking Innocent to every country in the world," he added.
Innocent, which markets itself as Europe's favourite smoothie company, is the latest in a long line of UK firms falling into the hands of foreign ownership but is also another example of a business set up with high-minded goals that has been taken over by a very large and conservatively-run predator.
Cadbury, which had caused adverse comment by buying up the Green and Black chocolate firm, was itself recently bought up by Kraft of America while Body Shop has been acquired by L'Oreal and Pret a Manger by McDonald's.
Innocent has been working with Coke since the US group took an initial 18% stake in the business last year. The latest deal sees a further 40% of Innocent change hands, largely due to the disposal of shares by one of the original "angel" investors in Innocent.
But Reed and his co-founders, Adam Balon and Jon Wright, have also sold a small number of their shares giving Coke the 58% stake while protecting their ability to run the company in the way they want by legal agreement, they say.
Tuesday, 6 April 2010
Toyota sees sales surge amid safety woes after slashing prices
Link to the article: Guardian.co.uk
After the most testing year in the company's 73-year history, Toyota executives can perhaps afford to greet the new financial year with guarded optimism after last month's dramatic sales increases in the US and Japan.
The rebound was to be expected after the catastrophic collapse in sales prompted by the global recession, but the firm will be more encouraged by signs that its recent safety recall of more than 8.5m cars has so far failed to deliver the killer blow many had expected.
The world's biggest carmaker saw US sales rise 41% in March from a year earlier, having fallen 16% year-on-year in January and 9% in February.
Toyota attributed its March performance to a series of incentives that gave buyers discounts of up to $2,250 (£1,480) a vehicle last month.
The sweeteners, which included interest-free loans and discount leases, were introduced after the company's disastrous handling of complaints involving defective brakes and accelerators.
After the most testing year in the company's 73-year history, Toyota executives can perhaps afford to greet the new financial year with guarded optimism after last month's dramatic sales increases in the US and Japan.
The rebound was to be expected after the catastrophic collapse in sales prompted by the global recession, but the firm will be more encouraged by signs that its recent safety recall of more than 8.5m cars has so far failed to deliver the killer blow many had expected.
The world's biggest carmaker saw US sales rise 41% in March from a year earlier, having fallen 16% year-on-year in January and 9% in February.
Toyota attributed its March performance to a series of incentives that gave buyers discounts of up to $2,250 (£1,480) a vehicle last month.
The sweeteners, which included interest-free loans and discount leases, were introduced after the company's disastrous handling of complaints involving defective brakes and accelerators.
Monday, 29 March 2010
Bribery case may harm China's image
Link to the article: Reuters Video
Mar 29 - As Rio Tinto executives are sentenced to jail on bribery and secrets charges, analysts say China's business image may be harmed.
Anna McIntosh reports.
Mar 29 - As Rio Tinto executives are sentenced to jail on bribery and secrets charges, analysts say China's business image may be harmed.
Anna McIntosh reports.
New Greek bond will test EU plan
Link to the article: Reuters
Mar 29 - Greece launches its first bond since the Eurozone leaders approved an aid package for the struggling country.
Anna McIntosh reports.
Mar 29 - Greece launches its first bond since the Eurozone leaders approved an aid package for the struggling country.
Anna McIntosh reports.
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